Our investment philosophy is grounded in solid academic research on momentum as a systematic factor premium in equity markets. There is extensive empirical evidence showing that the momentum effect occurs across asset classes and markets. Over longer time horizons, serial correlation in stock prices has repeatedly proven to be a robust source of risk-adjusted excess returns.

Investment Process

From investment universe to portfolio – illustrated here using the equity fund Delphi Global as an example.

Our active investment process begins by filtering the initial investment universe according to Storebrand Asset Management’s exclusion criteria, as defined in the Storebrand Exclusion Policy.

Our proprietary quantitative screening process identifies attractive investment candidates based on stock price trends and revisions in analysts’ estimates (fundamental trend). These signals are then subjected to qualitative fundamental analysis, assessing whether positive trends are likely to persist. This analysis focuses especially on drivers of earnings improvement and potential upward revisions of analysts’ forecasts.

The portfolio manager makes the final investment decisions and executes trades, emphasizing adherence to the fund’s investment mandate and best execution. Portfolio construction is balanced to ensure appropriate diversification and exposure to various value drivers.

Have questions about investing in Delphi’s funds? Please get in touch with one of our team members.