Hilbert Group on Track to Hit 2023 Target of 1.5B SEK in Assets

Key takeaways:

• Hilbert Group raised more than 1B SEK in the first half of 2023 and is targeting 1.5B by year-end.
• Ten new institutional investors have chosen its funds as their preferred investment vehicles this year.

Inflows keep coming

Hilbert Group, the Sweden-based public asset manager, is having a strong year across its suite of funds. By the end of July, its investment vehicles had raised more than 1B SEK ($90M) — putting the firm well on course for its target of 1.5B SEK ($135M) in assets under management by the end of 2023.

The interest is broadening, too. Ten new institutional investors have tapped Hilbert Capital, the group's asset management division, as their gateway to global markets this year, and more than 20 other groups are eyeing Hilbert's funds as potential investment vehicles.

The market has noticed. Rising inflows have helped lift the Stockholm-listed asset manager's share price in recent months — the stock gained a hefty 200% in the first half of the year.

To match a diverse set of investor expectations, Hilbert is rotating its funds' exposure from Long-Only trading (profit in rising markets) to Long-Short (profit from rising and falling prices). The aim: keep drawdowns to a minimum while making room for more non-correlated returns.

That rotation sits inside a wider overhaul of how Hilbert approaches markets — sharper investment solutions and stronger trading technology, so investors can scale their positions across funds. Read the full press release here.

New funds for more growth

Hilbert Capital's main specialisation is digital assets and blockchain technology products. Last year alone, Hilbert launched two new hedge funds — Hilbert V1, which runs a market-neutral strategy with zero correlation to crypto, and Hilbert V30, which captures wide upside swings in crypto assets while limiting the downside. There's also Hilbert V100, a fund positioned to absorb the return to growth for crypto markets.

The firm has steered a volatile crypto market with a risk-conscious approach — one that kept it clear of the FTX collapse. Hilbert had no exposure to the Sam Bankman-Fried-led exchange or its sister company, trading house Alameda Research.

Assembling an A-team

The group's investment strategy revolves around quantitative intelligence, and the bench behind it is deep: financiers, analysts, programmers and more.

In July 2022, Hilbert Group appointed a new CEO to Hilbert Capital — former Cevian Capital executive Richard Murray, who also worked at hedge funds Brevan Howard and Finisterre. Bruce Terry, former US CEO at Brevan Howard, joined Hilbert's advisory board in 2022.

The quant side got heavyweight hires of its own. Dr. Thierry Pudet, Citadel Europe's former chief risk officer, was tapped as senior quant strategist, and Nick Yannakoyorgos, a former lead programmer with 23 years at JPMorgan, was appointed senior quant developer.