Stefan Guter

Zenit is an active, absolute return-based manager which invests through their fund, specializing in equity and equity-related instruments. Their geographic focus is global with a preference for Europe and the Nordic region. The firm performs fundamental stock analysis of individual companies combined with business-oriented macroeconomic analysis complemented by the managers' perception of the market trend, momentum and liquidity aspects. The analysis is based on a large network of businesses and business leaders and includes information gathering and analysis, company visits and in-house analysis. The fund's positions are mainly based on in-house forecasts produced by the fund analyst team and attractive valuation (too high or too low). Special interest is paid to companies in which Zenit's own analysis differs significantly from market forecasts. The portfolio managers rank opportunities and construct a concentrated portfolio based on the managers' ability to systematically identify surpluses and undervalued stocks in order to generate alpha returns. Their investment horizon is generally six to twelve months.