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EXCALIBUR

Excalibur
continues to deliver returns

in uncertain times

Excalibur is a well-established operator in fund management.
The company’s fund management objective is to generate a positive return

at a low risk, regardless of market conditions. In a tumultuous economic
environment, Excalibur has once again succeeded in doing so, achieving a

6-percent return in 2022.

According to the investment magazine Placeringsguiden, “In this kind of economic situation, everyone wants to own risk,” says
Excalibur was the only fund manager among the managers of Thomas Pohjanen. “In such cases, Excalibur isn’t so attractive. What
99 fixed income funds that delivered a positive return during we’re now entering is a sobering-up phase after the party, with the
the year. In an environment characterized by inflation, rapidly rising Riksbank (Swedish central bank) removing the punch bowl. Going
interest rates and uncertainty, this is something out of the ordinary. forward, investment decisions will be based on a healthier view of the
One of the reasons for this is an easily adjustable portfolio, which is cost of money and risk, which I think is fundamentally a good thing.
good in a changing world, but also extensive knowledge of the market Long periods of very low interest rates inevitably lead to borrowing
and a high level of responsiveness, according to the company’s CEO excesses that end in tears, bankruptcies and consolidations.”
Thomas Pohjanen.
Over the past three years, Excalibur has had the best return of all
“The market has been very volatile recently,” he says. “There’s been a fixed income funds in the Nordic region, with the fund growing by 20
great deal of variation in exchange rates and interest rates. Navigating percent during the year. The goal is to reach one billion Swedish kronor
this environment while maintaining risk control has been challenging. in assets under management, which could be achieved as early as 2023.
The fact that we’re actually ending the year clearly in the black shows
that we’ve succeeded in this regard.” “We’re continuing in the direction we’ve been going in,” says Thomas
Pohjanen. “The fund is profitable and we want to grow it further.
MARKET ‘SOBERING UP’ It’s important to be responsive, and even when we’re wrong, there
The economic environment leading up to the pandemic was shouldn’t be a negative return. No two years are the same, so we’re
characterized by zero and negative interest rates. Risky investments constantly adapting to the current situation.”
have been rewarded. But with recent economic developments, the
situation does not look quite the same anymore.

Thomas Pohjanen, CEO

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