Lancelot Asset Management

Our funds

Lancelot Global

Our global equity fund, Lancelot Global, is an actively managed fund with the goal of achieving significantly higher returns than the fund’s benchmark index in SEK (MSCI World) over a 3-5 year horizon. The fund maintains a concentrated portfolio focused on a few long-term structural growth trends expected to outperform the overall market.

Investment Process - Emphasis on Growth Trends Long-term returns are driven by profit growth. Over time, companies that experience growth tend to perform better than others in the stock market. Lancelot Global identifies structural growth trends, often referred to as megatrends, and invests in market-leading companies within these trends."

DOCUMENTS

Application form (Lancelot Global A)
Redemption form (Lancelot Global A)
Prospectus Lancelot Global (swedish)

Lancelot Sverige

Lancelot Sverige is our equity fund that focuses on the Swedish market. It is actively managed and invests in publicly traded companies with the potential for significant long-term value appreciation.

Lancelot Sverige stands out due to:

• Concentration on a limited number of high-potential companies.
• Comprehensive analysis.
• A long-term perspective in a frequently short-term market.

By concentrating on the most promising companies, Lancelot Sverige enables in-depth analysis. Potential investments are thoroughly examined through independent analysis, meetings with company management, and on-site visits. The goal is to form a well-founded understanding of a company’s long-term value and to invest only when market pricing significantly underestimates this value. Lancelot Sverige also aims to capitalize on short-term market fluctuations.

The fund is open to investing in companies and sectors that may currently be unpopular but offer substantial opportunities in the long run. This includes both companies exposed to structural growth and those undergoing positive changes with a solid fundamental business model.

DOCUMENTS

Application form (Lancelot Sverige A)
Redemption form (Lancelot Sverige A)
Prospectus (swedish)

Lancelot Stabil

Lancelot Stabil is our allocation fund that primarily invests in stocks and bonds with the goal of achieving a good risk-adjusted return over time at low risk. The benchmark index is the 360-day treasury bill rate. The management approach prioritizes capital preservation, and there is no predetermined equity allocation.

The investment strategy is entirely active, disregarding any benchmark, and is based on a structured macro-based analysis. The fund manager selects the most attractive asset classes, mainly stocks and bonds. The allocation to stocks, bond duration, and the proportion of corporate bonds vary based on assessed attractiveness at each point in time, aiming to create excess returns through active allocation as the economy moves through the business cycle. The fund seeks diversification (risk spreading) across countries and industries for stock holdings and across maturities, credit risk, and issuers (governments and companies) for bonds. A broad diversification reduces the fund’s risk and contributes to the goal of achieving a good risk-adjusted return.

The selection of individual stocks and bonds is based on the overall asset allocation but relies on fundamental analysis. The stock allocation primarily targets stable companies in Sweden and globally to achieve consistent returns with limited declines. Stable companies exhibit lower volatility than the market, have a robust business model, stable and relatively recession-resistant earnings, high return on equity, low valuation, and strong profit growth compared to their competitors. In addition to stable companies, more cyclical companies are occasionally chosen when the economy is expected to recover.

The bond portfolio’s duration is adjusted in the short term but remains relatively low over time to limit sensitivity to rising interest rates. The fund primarily holds Investment Grade bonds with high credit quality but may invest in lower-rated securities if the risk-adjusted return is deemed attractive. Geographically, the fund has a focus on Swedish bonds but includes global holdings.

DOCUMENTS

Application form
Redemption form
Prospectus