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Investment philosophy

A group of men sitting at a table having a meal.
P.S. Krøyer, At breakfast, 1883. The painting is manipulated and belongs to The Art Museums of Skagen.

SKAGEN's investment philosophy is centred on active, value-based fund management; a combination we believe ensures the best results for clients.

The portfolio managers aim to outperform the broader stock market, enabled by unconstrained mandates and the freedom to invest with conviction in their best ideas. They are agile when selecting the companies with the greatest potential to create value and how it can be achieved. We also believe that engagement with companies is key to delivering sustainable risk-adjusted returns.

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Active

All SKAGEN portfolio managers invest bottom-up by selecting the companies they believe will deliver the most value for clients. Investment decisions are based on detailed analysis and deep knowledge of companies, irrespective of their inclusion or position in an index. We strive to beat the market and create portfolios that diverge from conventional benchmarks to achieve this.

 

  • Unconstrained: Unconstrained mandates give us the freedom to search for the best opportunities from across the globe. They also enable us to create diversified portfolios by geography, sector and investment theme to control risks for clients.

  • Conviction: We are high conviction investors who build concentrated portfolios of our best ideas. We act quickly and decisively when price targets are reached, or if an investment case deteriorates, and redeploy capital into more attractive ideas to optimise the funds' returns.

 

Value

We invest in companies whose assets or earnings potential isn't fully reflected in their share price and take a broad view of value creation. Portfolio managers typically identify businesses with clear catalysts to correct their mispricing and those with an underappreciated ability to compound value over time.

 

  • Agility: We often look beyond traditional metrics to uncover value hidden on company balance sheets or within revaluation triggers. Agile thinking can also lead us to businesses whose intrinsic earnings capacity or growth potential is underestimated by the market.
  • Engagement: Releasing value can require engagement and patience to maximise long-term results. We are active owners and engage with our portfolio companies on key business, financial, environmental, social and governance issues, using performance indicators to drive sustainable returns and revaluation over time.

 

Read more:

Responsible investing

Why choose SKAGEN?

Questions? Feel free to contact us.

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+47 51 80 37 09

Historical returns are no guarantee for future returns. Future returns will depend, inter alia, on market developments, the fund manager’s skills, the fund’s risk profile and management fees. The return may become negative as a result of negative price developments. There is risk associated with investing in funds due to market movements, currency developments, interest rate levels, economic, sector and company-specific conditions. The funds are denominated in NOK. Returns may increase or decrease as a result of currency fluctuations. Prior to making a subscription, we encourage you to read the fund's prospectus and key investor information document which contain further details about the fund's characteristics and costs. The information can be found on www.skagenfunds.com. Storebrand Asset Management administers the SKAGEN funds which are by agreement managed by SKAGEN's portfolio managers.

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