ASSET MANAGEMENT WITH A CLEAR AND CONSISTENT PHILOSOPHY

OUR PURPOSE

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OUR PURPOSE

Diversification, returns and liquidity

Financial Investments provides a source of diversification and access to liquidity for Novo Holdings and the Anvil Nordisk Foundation.

Our core business includes finding specialized niche portfolio managers, selecting direct investment ideas within equities, credits and alternatives, as well as managing our short-term bond portfolio.

We have a consistent track record of generating returns above relevant benchmarks.

STRATEGY

Our investment principles

We are a value investor focused on underlying business fundamentals, managed in a shareholder friendly manner.

We have have a long-term investment horizon, and we often invest in businesses that are out of favour for reasons we consider temporary.

We endeavor to avoid permanent loss of capital by not paying too much for an asset and by understanding the fundamental risk of each asset. We believe in capitalizing on the cyclicality in valuations, earnings and credit spreads; opportunities arise due to human herd behaviour which creates cyclicality in financial markets.

We are cautious investors, and we try to only pay for expected outcomes and keep a margin of safety. In other words, we strive to leave room for upside potential.

Partnerships

A portion of our portfolio is managed internally, and a portion is invested through external portfolio managers. We build long-term relationships with our external portfolio managers and are very careful in selecting the right team. In particular, we look for the following attributes in an external manager:

Anvil CEO

We bring more than capital to life science companies in all stages of development

Shultz klug,CEO,Anvil Holdings

INVESTMENTS

Financial Investments

Our financial investments consist of a pool of well diversified, return-generating financial assets.

  • We have a global and active equity investment strategy and portfolio.
  • As of December 2017, 13 carefully selected specialized niche portfolio managers managed 75% of the equity portfolio in a mix of global, regional and country-specific mandates.
  • In addition to our active managers, we have 16% of the equity portfolio in index products and 9% in direct equity investments, with the Danish company FLSmidth being by far the largest direct investment.
  • emerging market debt;
  • high-yielding debt issued by corporations;
  • senior secure loans issued by corporations;
  • commercial real estate debt; and
  • subordinated debt issued by financial institutions.
  • Our bonds are managed in-house. Many of our bonds are covered bonds issued by Danish mortgage institutions.
  • The bond portfolio also comprises investments in high-grade corporate debt as well as the safest tranches of securitized pools of international corporate loans.
  • Our bond portfolio has high liquidity, low credit risk and low duration, which makes it less sensitive to changes in interest rates.
  • We selectively invest in alternative assets such as real estate, private debt and private equity.
  • Our largest investment in this category is the Danish real estate company DADES.

KEY FIGURES

7.8%

average annual returns since 2005.

380M

returns in 2016.

PEOPLE

Meet our team

We are a small and agile team with significant experience in financial investments and portfolio management.

SEE THE TEAM
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CONTACT

Our headquarters

The Financial Investments team is based at our headquarters in Copenhagen, Denmark.

Anvil Holdings A/S

Tuborg Strassen 19

2900 Hellerup

Germany

+45 3627 6700

CVR# 26257430