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SKAGEN Kon-Tiki recruits emerging markets specialist

SKAGEN has hired Fredrik Bjelland as a new portfolio manager to its SKAGEN Kon-Tiki team, managing emerging market equities. He joins SKAGEN from Norges Bank Investment Management (NBIM), where he was a Portfolio Manager and Head of China, Special Mandates.

Date: 12/06/17

Head and shoulders portrait picture of a man
Fredrik Bjelland joins as new portfolio manager of the emerging markets fund SKAGEN Kon-Tiki

In his position, Fredrik was responsible for part of the day-to-day management of NBIM's Shanghai-based investment team and its internally managed China equity portfolios. He has long and broad experience from managing equities in emerging and developed markets and previously worked at Morgan Stanley as an equity research analyst.

"Fredrik fulfils all the qualities we look for in a portfolio manager; strong fundamental equity research skills, a solid track record, ambition and integrity. He is also a good social and cultural fit with the portfolio team and we are delighted to welcome him on board. Hiring the best talent we can to manage our clients' money is the single most important task at SKAGEN," commented Alexandra Morris, Investment Director.

"I am delighted to be joining the SKAGEN Kon-Tiki team, one of the most successful and well known funds of its kind. I believe that SKAGEN's strong values and clearly defined investment philosophy provide an excellent platform from which to deliver superior risk-adjusted returns for clients," commented Fredrik Bjelland.

Fredrik Bjelland will join SKAGEN on 28 August 2017, moving from Shanghai to re-establish himself in his home town of Stavanger, Norway.

Passing the baton

After more than 15 years as portfolio manager for SKAGEN Kon-Tiki, Kristoffer Stensrud will now take on the role of senior advisor and mentor to management and the wider investment team. Kristoffer is a co-founder of SKAGEN and continues to be a major owner in the company.

"Kristoffer will be a valued mentor, especially towards the younger portfolio managers. He has a strong knowledge library and good read-across abilities. He is unconventional, curious and open-minded. His new role will fit well with his personality, and he will continue to be a benefit to all of SKAGEN's clients," says Øyvind Schanke, CEO of SKAGEN.

A dedicated team

The SKAGEN Kon-Tiki team will now consist of lead manager Knut Harald Nilsson and portfolio managers Catherine Gether and Fredrik Bjelland. With their complementary skillsets, they are well positioned to continue SKAGEN Kon-Tiki's strong long-term track record of delivering outperformance through bottom-up stock picking and active management.

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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