History
Elementa Management AB was founded in 2015 by Marcus Wahlberg. The company has the Swedish Financial Supervisory Authority’s (Finansinspektionen) approval to conduct alternative investment fund management under the Alternative Investment Fund Managers Act (2013:561).
The company is currently managing the fund Elementa which was launched on March 5, 2015, a L/S equity hedge fund with focus on Nordic small- and mid-sized companies.
Organization
Elementa Management AB is managed by the founder of the company, Marcus Wahlberg (CEO & CIO), Adam Lytle (Partner & PM) and Gunnar Wiljander (COO). The Chairman of the Board since April 2023 is Niklas Wakeus, who has long and solid experience, including from the financial industry. Niklas has been a member of the company´s board since the company’s inception.
The company has decided to outsource critical functions to well-known and well-established companies, offering similar services to fund management companies being under the Swedish Financial Supervisory Authority’s (Finansinspektionens) supervision. Through this setup, key functions such as risk management and compliance, are performed independently which leads to maintaining the public’s trust of the stock market. In addition, the choice of organization setup has a favourable impact on company costs, comparing to setting up and employing corresponding infrastructure and competence.
Management
Marcus Wahlberg, CEO & CIO
Marcus Wahlberg is the founder and CEO of Elementa Management AB as well as the CIO of the fund Elementa. Marcus has a background as investment director at Investment AB Öresund and CEO of the subsidiary Ven Capital AB. Marcus has also prior working experience from H Lundén Asset Management managing the hedge fund Eikos, as well as within corporate finance at Carnegie Investment Banking. Marcus holds a M. Sc. degree in finance from the Stockholm School of Economics.
Adam Lytle, Partner & PM
Adam Lytle, joined Elementa in 2023 and today serves as Portfolio Manager. Adam and Marcus studied together at the Stockholm School of Economics and have known each other and discussed investments for over 20 years. Before Elementa, Adam worked for 14 years in private equity with a focus on mid-sized companies at Argan Capital (UK), AEA Investors (UK) and most recently at Polaris Private Equity (DK). Adam began his career as an investment banker at Enskilda Securities (SWE) and JPMorgan (UK). Adam holds a M. Sc. degree in finance from the Stockholm School of Economics and 3 years of studies at the Royal Institute of Technology (industrial economics), Stockholm. Today, Adam sits on the board of Nepa AB (publ) and has historically worked as an owner representative on the board of Distriktstandvården (SWE), Humana (SWE), Gas Control Equipment (SWE), NES Fircroft (UK), Sparrows Offshore (UK), LoneStar Group (UK), IAC Group (UK).
Gunnar Wiljander, COO
Gunnar has a Bachelor’s degree in economics from Stockholm School of Economics and an independent consultant. Extensive experience in capital markets and recently CEO for Tidan Capital. Prior to that Gunnar was CEO during 10 years for Nektar Asset Management. Previously worked as client executive at SEB with focus on US and English hedge funds and has been responsible for fixed income and currency trading at Investor. Prior to that head of capital markets at Swedbank and Midland Bank.
Board of Directors
Niklas Wakèus, Chairman
Niklas Wakeus is currently the founder and CEO of Professional Secrets (Opexi AB). Niklas has previously been COO of Blueair Group, CEO and COO for Tradimus Group and chairman of H1 Communications AB. Niklas has experience from various positions within the Electrolux Group such as Treasury Department and as a Board member of Electrolux Financial Services AB. Niklas has a M. Sc. degree from the University of Gothenburg.
Ola Paulsson, Board member
Ola Paulsson was previously CEO of Brummer & Partners AB and before that he held a number of positions in the same corporate group. Ola has also been a lawyer at Gernandt & Danielsson. Ola was a member of the Swedish Bar Association during the period Jan/2000 - Mar/2004. Ola has a law degree from Uppsala University.
Marcus Wahlberg, Board member
Marcus Wahlberg is the founder and CEO of Elementa Management AB as well as the CIO of the fund Elementa. Marcus has a background as investment manager at Investment AB Öresund and CEO of the subsidiary Ven Capital AB. Marcus has also prior working experience from H Lundén Asset Management managing the hedge fund Eikos, as well as within corporate finance at Carnegie Investment Banking. Marcus has a M. Sc. degree in finance from the Stockholm School of Economics.
Essential control functions
Risk management, Stefan Dahl (ISEC Services AB)
Elementa Management AB has entered into agreement with ISEC Services AB regarding monitoring and measuring risks of the fund. ISEC Services AB has during several years supplied such services for alternative investment funds and to managers of alternative investment funds. Through its experience and knowledge ISEC Services AB can offer necessary support to financial institutions to comply with regulations and risk management.
Compliance, Ann-Sophie Hesser (Apriori Advokatbyrå AB)
Elementa Management AB has entered into agreement with Apriori Advokatbyrå AB regarding compliance. Apriori Advokatbyrå AB has during several years supplied such services to institutions, fund managers included, under supervision from Finansinspektionen. Ann-Sophie Hesser is an Attorney at Law specialised in compliance within the financial industry and she is currently assigned as compliance officer to several financial institutions, AIFM’s included.
Auditor, Daniel Algotsson (PricewaterhouseCoopers AB)
Elementa Management AB has appointed PricewaterhouseCoopers as auditing firm, auditor is Daniel Algotsson.
Policies
Best execution
Elementa Management AB executes trades for the fund Elementa. In order to achieve best execution, the company take price, cost, speed and settlement, volume and type, as well as other essential aspects into account.
Remuneration policy
The company’s remuneration policy is designed in accordance with the Finansinspektionen’s regulations (FFFS 2013:10). The remuneration policy is designed to encourage good performance and attract new personnel, and at the same time pay respect to the business strategy and long-term interests of the company. The remuneration policy shall discourage exaggerated risk taking, conflicts of interests and favour a healthy risk management. One employee is currently categorized as regulated personnel.
Incitament
Elementa Management AB manages the fund Elementa. The company receives remuneration from the fund, partly as a fixed management fee and partly as a performance based fee in accordance with the Elementa fund articles. The company may enter into agreements with companies distributing the fund and with institutional investors. Such agreements may involve in the company paying a rebate as a percentage of the management fee related to distributed and/or institutional investor capital invested. The company does not receive any third party remuneration in connection to trade executions for the fund.
Further information is available upon request to unitholders. Please send an e-mail to info(at)elementamanagement.se.
Owner policy
On behalf of the unit holders, Elementa Management AB exercises an ownership role in the companies in which the Elementa fund invests. Strategies for the use of voting rights shall be used exclusively with the joint interests of the unit holders. The overarching goal of the company’s management and ownership issues is to, over time, with a well-balanced risk-taking, give the shareholders the best possible return in the long term. Furthermore, the company shall work for companies in which the fund invests in accordance with relevant codes as well as in accordance with good practice. Further information about the industry’s guidelines on these issues can be found at www.fondbolagen.se.