Coeli Norhammar Property L/S Fund

Coeli Norhammar Property L/S Fund is an actively managed real estate fund, focused on investments in Nordic real estate companies with a proven ability of generating shareholder value through profitable growth. Coeli Norhammar Property L/S Fund is a long-term investor in 10-20 real estate companies.

The fund have a long/short strategy that gives the fund the opportunity to vary the exposure with financial leverage and reduce the exposure during adverse market conditions. The portfolio is concentrated with fewer and larger holdings where the selection is determined based on fundamental analysis. Coeli Norhammar Property L/S Fund is an article 8 fund with ESG-characteristics and has an integrated and systematic method for assessing sustainability.

Summary of the investment opportunity

Market conditions: An unusual monetary policy has created a unique situation where the real estate index is down approximately 60% from its peak.

Company analysis and the importance of the right company: Many companies are fundamentally strong, creating favorable conditions for a robust recovery once financing costs adjust. However, the selection of companies becomes extremely important as not all companies have the same prerequisites.

Valuations: Historically low valuations where approximately 80% of the Swedish real estate market trades at a significant discount to its net asset values.
The strategy: The strategy of the fund aims to capture market upswings with the potential to maximize both beta (market performance) and alpha (excess returns).