ALCUR FONDER

Name

ALCUR FONDER

Legal name

ALCUR FONDER AB

Website

https://www.alcur.se/

Company type

Private

Operating status

Operating

Ownership category

akta.pro rank

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. ALCUR Classic Management Fees: Fixed fee of 1% per year paid monthly in arrears (0.083% per month) plus performance fee of 20% over 90-day SSVX (risk-free rate), with high watermark applied. Collective calculation method.
2. ALCUR Select Management Fees: Fixed fee of 1% per year paid monthly in arrears (0.083% per month) plus performance fee of 20% over SSVX90 +5% units (minimum 0), with high watermark applied.
3. ALCUR Grow A Management Fees: Fixed fee of 0.8% per year for institutional share class, paid monthly. Plus performance fee of 10% over 90-day SSVX +5% units, with high watermark.
4. ALCUR Grow B Management Fees: Fixed fee of 1.6% per year for retail share class, paid monthly. Plus performance fee of 10% over 90-day SSVX +5% units, with high watermark. Minimum initial investment SEK 1,000.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

ALCUR Fonder is an independent Swedish boutique fund management company that manages three special funds (alternative investment funds under Swedish LAIF 2013:561) focused on Nordic equities: ALCUR Classic (absolute-return long/short hedge fund), ALCUR Select (long/short Nordic small/mid-cap hedge fund), and ALCUR Grow (concentrated small/mid-cap fund with institutional and retail share classes). The firm applies active stock selection, strict risk control, ESG integration (SFDR Article 8), and charges fixed plus performance fees with high watermarks.

Product overview

ALCUR Fonder is an independent Swedish fund management company offering three distinct special funds (alternativa investeringsfonder, AIF) classified under Article 8 of SFDR: ALCUR Classic (absolute return hedge fund with long/short strategy), ALCUR Select (hedge fund with long/short equity focus on Nordic small caps), and ALCUR Grow (split into institutional share class A and retail share class B, focused on Nordic small and mid-cap growth companies). The funds are managed with a focus on risk-adjusted returns, with the Classic targeting 4-8% annually, Select targeting 10% above risk-free rate, and Grow targeting >15% annually. All funds are regulated under Swedish LAIF (2013:561) and supervised by Finansinspektionen.

Differentiator

Problem solved

Functional benefit

Brands

• ALCUR Classic: Absolute-return hedge fund focused on the Nordic equity market, launched January 2007. Strategy uses long and short positions with a target annual return of 4-8% and annualised standard deviation of 2-5%.
• ALCUR Select
• ALCUR Grow

Products and services

• ALCUR Classic Absolute-return Nordic equity hedge fund launched in January 2007. Uses long and short positions to target 4-8% annual returns with standard deviation of 2-5% and low market correlation. Charges 1% annual fixed fee plus 20% performance fee over 90-day SSVX, with high watermark and collective calculation method. Risk class 3, monthly subscription and redemption with T-10 notice. For institutional investors, corporations, and HNW private individuals.
• ALCUR Select Long/short equity hedge fund in Nordic small and mid-cap companies, launched May 2018. Targets +10% return over time with below-market volatility (vs. OMXSPI). Charges 1% annual fixed fee plus 20% performance fee over SSVX90 +5% (min 0), high watermark. Minimum SEK 500,000 initial investment, SEK 100,000 thereafter. Quarterly redemption. For institutional and HNW investors.
• ALCUR Grow A Institutional share class of ALCUR Grow, a concentrated Nordic small/mid-cap fund of approximately 30 holdings targeting companies able to grow more than 15% annually with a 3-year horizon. Charges 0.8% annual fixed fee plus 10% performance fee over SSVX +5% units, high watermark. Minimum initial investment SEK 10,000,000. Monthly subscription, quarterly redemption (30-day notice). For institutional investors.
• ALCUR Grow B Retail share class of ALCUR Grow with the same Nordic small/mid-cap investment strategy as Grow A. Charges 1.6% annual fixed fee plus 10% performance fee over SSVX +5% units, high watermark. Minimum initial investment SEK 1,000. Monthly subscription, quarterly redemption (30-day notice). Up to 5% subscription fee and 0.5% redemption fee possible but not currently charged. For HNW and retail investors via platforms and advisors.

Quantifiable outcome

• ALCUR Classic achieved 7.21% return in 2025 with 2-5% volatility target
• +3 more outcomes

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core.

• Wahlstedt SagerydcoreOthersExternal risk control and NAV (valuation) service provider for ALCUR Fonder. Provides independent fund valuation and risk measurement services including volatility, standard deviation, beta, Sharpe ratio, and VaR calculations.
• Harvest Advokatbyrå ABcoreOthersRegulatory compliance legal counsel for ALCUR Fonder. Provides rule compliance advisory services. Klagomålsansvarig (complaints officer) Rico Benavides based here.
• Wistrand AdvokatbyråcoreOthersInternal audit function provider for ALCUR Fonder, with Nils Alpman serving as internal auditor.
• Skandinaviska Enskilda Banken AB (SEB)coreOthersCustodian bank for ALCUR fund assets. All fund assets are held in custody by SEB as depositary institution.
• Connect EarthcoreTechnology or IntegrationExternal ESG and sustainability data provider for ALCUR Fonder. Provides environmental, social, and governance data for investment analysis and PAI (Principal Adverse Impacts) monitoring across 18 sustainability indicators.

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Enter Fonder: Swedish independent boutique fund manager specializing in Nordic small/mid-cap equities. Closely comparable to ALCUR Grow on strategy, customer segment (HNWs and institutional), and boutique independence, though smaller and less award-recognized.
• Lannebo Fonder: Independent Swedish boutique fund manager focused on Nordic equities with active management philosophy. Closely comparable to ALCUR on independence, Nordic focus, and boutique scale; Lannebo is meaningfully larger but pursues a similar client base and active value-style approach.
• Rhenman & Partners: Swedish hedge fund manager running equity long/short strategies focused on Nordic and European small/mid-cap names. Directly comparable to ALCUR Select on long/short hedge fund structure, Nordic small-cap universe, and institutional client base.
• Carnegie Fonder: Swedish fund manager with strong Nordic small/mid-cap equity offerings and alternative strategies. Directly comparable to ALCUR in target market (Nordic equities), customer base (institutional and HNWs), and boutique positioning, though larger in AUM.
• Brummer & Partners: Swedish hedge fund manager running multi-strategy and equity hedge fund products. Highly comparable to ALCUR Classic and ALCUR Select given overlapping hedge fund strategies, Nordic equity focus, institutional client base, and external risk/NAV oversight model.

Broad incumbents

• Handelsbanken Fonder: Asset management arm of Handelsbanken with Nordic and global equity strategies distributed through the bank's branch network. Comparable to ALCUR on Nordic equity exposure and institutional client overlap, but operates as a broad incumbent rather than a focused boutique.
• SEB Investment Management: Asset management arm of SEB, one of Sweden's largest banks and ALCUR's own custodian. Overlaps with ALCUR in Nordic equity strategies across retail, institutional and custody-distributed channels but with materially larger AUM and broader product range.
• DNB Asset Management: Large Nordic asset manager within DNB Bank, offering Nordic equity and small-cap strategies alongside a broad product shelf. Overlaps with ALCUR in Nordic small-cap equity (e.g., DNB Nordic Small Cap, referenced as an institutional co-investor in Sivers), but operates at vastly greater scale across multiple asset classes.
• Nordea Asset Management: Largest Nordic asset manager with broad multi-asset and equity product range including Nordic small/mid-cap exposure. Competes with ALCUR for institutional Nordic-equity mandates but at significantly greater scale and lower fee points.
• Swedbank Robur: Sweden's largest domestic fund manager with extensive Nordic equity and small-cap offerings. Overlaps with ALCUR Grow on small/mid-cap focus and Swedish institutional/HNW client base, but with much greater AUM, distribution reach, and pricing flexibility.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks3 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ALCUR FONDER