Top performing event driven activist fund
- 1. ACCENDO CAPITAL Activist investor in listed Northern European companies
- 2. “All my working life, I have been creating value through active ownership. Initially in private equity, later in angel investing and corporate finance, and since 2007 as the founder of Accendo Capital. Accendo philosophy There are enormous opportunities to increase shareholder value in listed companies. Far too many companies focus on the formalities of corporate governance, use executive nominations as means of securing or repaying favors, and replace real strategic thinking with an over-emphasis on explaining risks.” - Henri Österlund, Founder 2
- 3. -5% 0% 5% 10% 15% 20% 25% 30% 35% Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 BX-class since inception (Sep 2015) vs. Benchmark Accendo BX MSCI Europe Small Cap TR -20% 0% 20% 40% 60% 80% 100% 120% 140% 160% 2008 2009 2010 2011 2012 2013 2014 2015 2016 A-class since inception (Feb 2008) Performance 3-year +92%, 1-year +34%, 2016 YTD +17%, AUM EUR 42M Performance data shown net of fees. Through 15 April 2016. 3 Accendo A-class MSCI Europe Small Cap Total Return MSCI Europe Total Return 0% 2% 4% 6% 8% 10% 12% 10% 12% 14% 16% 18% 20% Annual return Annual volatility Since inception
- 4. Why invest in Accendo Capital 4 Track record Interests aligned Strategic focus Seasoned activist investment team generating superior risk- adjusted and uncorrelated performance over 8+ years in an under-exploited segment. Managers have more than EUR 1 million own money invested, in addition to Mr. Österlund’s significant family investment. Commitment to focus on activist strategy in small cap niche, therefore will only accept commitments above AUM EUR 80 million.