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OPM Optim ized Portfolio M anagem ent Driven by research www.optimized.se Optimized Portfolio Management Steering Hedge Funds towards sustainable investments – Who is in it to win? TBLI CONFERENCE™ EUROPE 2010 OPM Optim ized Portfolio M anagem ent

André havas

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Page 1: André havas

OPMOptimized Portfolio

Management

Driven by research

www.optimized.se

Optimized Portfolio Management

Steering Hedge Funds towards sustainable investments – Who is in it to win?

TBLI CONFERENCE™ EUROPE 2010

OPMOptimized Portfolio

Management

Page 2: André havas

OPMOptimized Portfolio

Management

Driven by research

www.optimized.se

Agenda

OPM

Hedge Funds

Our challenge

How ethical guidelines can be intergrated into our portfolios

Conclusion

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Page 3: André havas

OPMOptimized Portfolio

Management

Driven by research

www.optimized.se

OPM in brief

A Swedish independent fund management company founded in 2003

Specialized in the field of hedge funds and alternative investments

Continuous outperformance

The client base is constituted of Pension Funds, Endowments, Private Banks, Insurers

Owned by the founders and Carnegie

HFM week European performance Awards 2010

0%

1%

2%

3%

4%

5%

6%

0% 2% 4% 6% 8%Risk

Avk

ast

nin

g

OP M Alfa i USD

HFRX Global HFIndex

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Page 4: André havas

OPMOptimized Portfolio

Management

Driven by research

www.optimized.se

Team

Simon Reinius

Founder of and Head of Investor Equity Trading, Investor AB. Partner, GKR Corporate Finance AB. Focus on the development of new equity

valuation tools and asset allocation models. Founder of Speed Ventures NV, Head of Business Development. The company was

involved in seed investment in combination with operational support through a global network comprising 10 offices on three continents. The company was sold in 2002.

Risk manager, Lendtech AB. Developer of macro economic models at “Det Naturliga Steget”, Stockholm. The

models were utilized to create a mutual fund, Svensk Miljöfond. M Sc, Finance and Business Administration, the University of Stockholm.

Tom Berggren

Managing Director at the Swedish Private Equity and Venture Capital Association. Founding Partner and Chairman of Stockholm Fondkommission. CEO of Berggren Investment Management AB. Financial / strategic advise and

private equity investments with board representation.

Martin Larsson, CAIA

CFO, Wahlstedt Sageryd. M Sc, Finance and Business Administration, The Stockholm School of Economics.

Peter Seippel

Investment Manager, Alternative Investments Department, at Länsförsäkringar. Assistant Consultant at Wassum Investment Consulting. Licentiate degree (Filosofie Licentiat) in Financial Economics from the Stockholm

School of Business and Cass Business School, City University, London. MSc. in Economics from the Department of Economics at Stockholm University. MSc. in Business Administration and Financial Economics from the Stockholm School of Business.

Jesper Dahlqvist

Consultant at VPD Financial Software Consulting. M Sc in Industrial Engineering and Business Management, Royal institute of

Technology. Bachelors degree in Business and Administration, Stockholm School of Business.

Marcus Nilsson

Consultant at Mindwell. M Sc in Industrial Engineering and Business Management, Linköping Institute of

Technology. Bachelor of Science in Business and Economics with a major in National

Economics, University of Linköping.

Johanna Mattsson

Substitute CFO, Larmassistansteknik AB. M Sc, Marketing and Business Administration, University of Södertörn.

André Havas

Vice President at Deutsche Bank Asset Management . Director, Head of Nordic Region, Scottish Widows . CDK Group, Sales & Marketing Director Europe. Client Manager GAM UK ltd. Business Development Director Skandia Global Funds . Bsc in Business Law, French and Italian,  University of Lund.

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Page 5: André havas

OPMOptimized Portfolio

Management

Driven by research

www.optimized.se

Awards

HFM week European performance Awards 2010

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Page 6: André havas

OPMOptimized Portfolio

Management

Driven by research

www.optimized.se

Three dimensional approach

With a fourth dimension being added

Yet non quantifiable

But of great value to investors and soceity – hopefully without distorting returns

Return

Correlation

Risk

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Ethical Screening

Page 7: André havas

OPMOptimized Portfolio

Management

Driven by research

www.optimized.se

Investment Philosophy – Cohesive with ”Ethics”

Established Financial Theory

Innovation

Systematic Lasting

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Page 8: André havas

OPMOptimized Portfolio

Management

Driven by research

www.optimized.se

Agenda

OPM

Hedge Funds

Our challenge

How ethical guidelines can be intergrated into our portfolios

Conclusion

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Page 9: André havas

OPMOptimized Portfolio

Management

Driven by research

www.optimized.se

Free to use many financial instruments

Active management

Absolute return target Performance based fee structure

What is a hedge fund?

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Page 10: André havas

OPMOptimized Portfolio

Management

Driven by research

www.optimized.se

A journey into the unknown

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Page 11: André havas

OPMOptimized Portfolio

Management

Driven by research

www.optimized.se

Hedge funds since 1994

Index:Hedge funds – Credit Suisse Tremont Hedge fund Index

Equities – S&P500 (Total Return)Bonds - Barclays Aggregate Bond Index

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50

100

150

200

250

300

350

400

450

Hedge Funds Equities Bonds

Page 12: André havas

OPMOptimized Portfolio

Management

Driven by research

www.optimized.se

Harvard University, allocation 1980 – 2009

Källa: Harvard Management Company

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Page 13: André havas

OPMOptimized Portfolio

Management

Driven by research

www.optimized.se

Agenda

OPM

Hedge Funds

Our challenge

How ethical guidelines can be intergrated into our portfolios

Conclusion

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Page 14: André havas

OPMOptimized Portfolio

Management

Driven by research

www.optimized.se

Repainting the blueprint for hedge fund investing

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Page 15: André havas

OPMOptimized Portfolio

Management

Driven by research

www.optimized.se

Ethics and sustainability are parts of accountability

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Page 16: André havas

OPMOptimized Portfolio

Management

Driven by research

www.optimized.se

The evolution of hedge funds is today investor driven

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Page 17: André havas

OPMOptimized Portfolio

Management

Driven by research

www.optimized.se

Take the hedgy out of the hedge

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Page 18: André havas

OPMOptimized Portfolio

Management

Driven by research

www.optimized.se

Ethics in investments or Investments in ethics

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Page 19: André havas

OPMOptimized Portfolio

Management

Driven by research

www.optimized.se

Agenda

OPM

Hedge Funds

Our challenge

How ethical guidelines can be intergrated into our portfolios

Conclusion

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Page 20: André havas

OPMOptimized Portfolio

Management

Driven by research

www.optimized.se

Reliable managers with good track records

Managers with a clear edge

Funds not exceeding their capacity

Funds with a sound legal structure and robust risk control

What we seek

Recipe for good future returns

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Page 21: André havas

OPMOptimized Portfolio

Management

Driven by research

www.optimized.se

Legal structure Audited statements

Analysis of risk control functions

Referrals

Areas of interest when performing the due diligence

Suspect the worst

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Page 22: André havas

OPMOptimized Portfolio

Management

Driven by research

www.optimized.se

Agenda

OPM

Hedge Funds

Our challenge

How ethical guidelines can be intergrated into our portfolios

Conclusion

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Page 23: André havas

OPMOptimized Portfolio

Management

Driven by research

www.optimized.se

Accomplishments so far

OPM enters into new venture with Wassum & Ethix www.ethix.se

The agreement covers Nordic Hedge

First screening covered first half of 2010

One holding found in violation with governing standards – action has been taken by OPM

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Page 24: André havas

OPMOptimized Portfolio

Management

Driven by research

www.optimized.se

We will push it to the limit

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Page 25: André havas

OPMOptimized Portfolio

Management

Driven by research

www.optimized.se

Thank You!

André Havas

[email protected]

+46 760 492 974

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