Delphi Funds

Delphi Funds
Delphi Fondene
Type Subsidiary
Industry Financial services
Founded 1995
Headquarters Lysaker, Norway
Products Mutual funds
AUM NOK 7,6 billion (July 2011)
Parent Storebrand
Website www.delphifund.com

Delphi Funds is a Norwegian mutual funds manager, established in the mid-1980s as a market analysis and data processing firm. By 1995 the company had shifted its activities to mutual fund- and equity management, and was acquired by the Storebrand group in 2000. Delphi Funds was merged with Storebrand Fondene in 2002 to become part of the Storebrand Asset Management subsidiary[1].

By 2011, Delphi Funds manages six actively managed unconstrained and concentrated long-only mutual funds, of which the global equity fund Delphi Verden, the European equity fund Delphi Europa, and the Nordic equity fund Delphi Norden are open to international investors. Standard & Poor's have assigned AA or A fund ratings to all three funds, citing a distinctive and defined investment process as building a strong track record for the funds[2]. As a fund needs to perform in the top 20% in its category to be considered for an S&P rating, only three other Norwegian fund managers had attained one at the time[3].

The Delphi Verden fund, alongside the until-then Franklin Mutual-managed ODIN Global, was after its first year in operation touted by domestic media as a challenger to the much larger Skagen Global fund, owing to an impressive performance relative to the MSCI World index[4]. Two years later, Morningstar ranked Delphi Verden second out of 2500 global mutual funds, only outperformed by US-based Franklin Mutual Global Discovery[5].

In march 2011, portfolio manager Espen Furnes of Delphi Europa, was ranked as the top Europe equity manager by Citywire, based on total returns over the past five years[6]. Furnes also received the Citywire rating AA, while Delphi Norden-manager Øyvind Fjell received the rating A; both for 3 year risk-adjusted performance. Approximately 170 managers possess any Citywire rating at any one time[7].

Outside the domestic market, the Delphi Funds only offer their services to institutional clients and professional investors[8].


References

  1. ^ Storebrand ASA. "Business Model - Asset Management". http://www.storebrand.no/site/stb.nsf/Pages/ir_memo_am2.html. 
  2. ^ Standard & Poor's. "Press Release: S&P Fund Services Assigns Rating to Delphi Europa, Verden and Norden funds". http://www.standardandpoors.com/servlet/BlobServer?blobheadername3=MDT-Type&blobcol=urldata&blobtable=MungoBlobs&blobheadervalue2=inline%3B+filename%3DS%26P+Fund+Services+Assigns+Rating+to+Delphi+Europa.pdf&blobheadername2=Content-Disposition&blobheadervalue1=application%2Fpdf&blobkey=id&blobheadername1=content-type&blobwhere=1243899778720&blobheadervalue3=UTF-8. 
  3. ^ Hegnar Online. "Delphi-managers receive top rating". http://www.hegnar.no/personlig_okonomi/article605745.ece. 
  4. ^ Dine Penger. "Challenging Skagen's success fund". http://www.vg.no/dinepenger/artikkel.php?artid=171576. 
  5. ^ E24. "Delphi Verden second best in the world". http://e24.no/makro-og-politikk/delphi-verden-knuser-konkurrentene/3088183. 
  6. ^ Citywire. "Top ten Europe equity managers over five years". http://citywire.co.uk/global/top-ten-europe-equity-managers-over-five-years-in-graphs/a481709?ref=citywire-global-picture-galleries-list#i=10. 
  7. ^ Financial Express. "Citywire rating". http://webfund6.financialexpress.net/clients/barclays/Help/help_citywire_ratings.htm. 
  8. ^ Delphi Funds. "Disclaimer". http://www.delphifund.com. 

External links


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