Stefan Lindblad

FMRIM UK uses various security analysis methods, investment strategies, and trading approaches to manage client assets. The firm invests in securities of companies engaged in a variety of economic sectors and industries that are domiciled in the US and outside the US (in developed, emerging and frontier markets); in stocks with growth or value characteristics; and in companies with market capitalizations of all sizes. With respect to money market funds, FMRIM UK observes industry-standard regulatory requirements for money market funds for the quality, maturity, and diversification of investments.

FMR-UK is a research-oriented manager which provides European expertise to FMR in the US. They favor established companies which are reasonably valued and which are likely to demonstrate greater than average long-term earnings growth. Their investment approach is based on in-depth fundamental research which includes company visits. The firm utilizes a bottom-up security selection process and is supported by FMR's research capabilities shared through a global research platform, in particular, Fidelity International Ltd. and their subsidiaries worldwide. They apply the same fundamental approach to equity, fixed-income and money-market securities. Investment ideas and research are generated by teams, but individual portfolio managers are ultimately the investment decision makers.

KDA Capital is an active, value/growth, long-only manager which is always fully invested in European equities. The firm's Managing Partner manages their fund with sector analysts following consumer goods, financials, cyclical, real estate, medical technology and Scandinavia. They invest across sectors including banks, media, logistics, consumer-related medical technology and residential construction. They do not cover pharma or technology because these fields are too complex and too specialized. The firm aims to exploit lags in the perception of industry change (outside the company), management change (inside the company), change of perception by investors either of the sector or company and change in valuation techniques applied by sell-side analysts to a company or sector. KDA Capital invests in companies where the sector has seen structural disruption, but management has not adapted, resulting in a profit warning. They typically have 20 to 25 stocks in their portfolio and invest with a two to three year horizon.