Portfolio management team

Delphi's investment team work closely together and shares ideas across the funds' investment universes.

Karl Otto Gulseth

Karl Otto Gulseth

Gulseth  leads the Delphi team and manages the balanced fund; Delphi Kombinasjon. He joined Delphi in 2022. Gulseth holds a BSc Economics and Business Administration degree from BI Norwegian Business School (2000-2003).

  • Portfolio Manager Nordic equities (since 2024)
  • Head of Sales/Marketing at Delphi Funds (2022-2024)
  • Director of Sales & Marketing  at Eika Kapitalforvaltning (2013-2022)
  • Head of Online Equities at Terra Markets (2009-2013)
  • Key Account Manager Equities/Funds at First Securities AS (2007-2009)
  • Sales Manager Funds and Alternative products at Terra Securities (2005-2007)
  • Norwegian Armed Forces. Officer Candidate School. (1998-2000)
Andreas B. Lorentzen

Andreas B. Lorentzen

Lorentzen is lead Portfolio Manager for Delphi Norge. He joined Delphi in 2020. Lorentzen holds a MSc Finance degree from the Norwegian School of Economics (NHH) (1999)

  • Portfolio Manager Nordic Equities (since 2020)
  • Portfolio Manager at Holta Invest (2017-2019)
  • Portfolio Manager Norwegian equities at Storebrand (2008-2017)
  • Economy and Administration Manager at Technet AS (2005-2007)
  • Consultant and Auditor at BDO (1999-2004)
Ivar Harstveit

Ivar Harstveit

Harstveit is lead Portfolio Manager for Delphi Global. He joined Delphi in 2019. Harstveit holds a MSc Finance degree from BI Norwegian Business School (2016-2018).

  • Portfolio Manager for Delphi Global (since October 2023)
  • Portfolio Manager for Delphi Green Trends (2021-2023)
  • Analyst at Delphi Funds (2019-2020)
  • Audit Associate at PwC (2018-2019)
  • Part-time Employee in Equity Brokerage and Analysis at Pareto Securities AS (2015-2017)
  • BSc Economics and Business Administration from BI Norwegian Business School (2013-2016)
Erik Alexander Berg-Johnsen

Erik Alexander Berg-Johnsen

Berg-Johnsen is lead Portfolio Manager for Delphi Nordic. He joined Delphi in 2022. Berg-Johansen  holds a MSc in Finance degree from Imperial College London (2021-2022).

  • Portfolio Manager Nordic equities (since 2024)
  • Analyst at Delphi Funds (2022-2024)
  • BSc in Economics and BSc in Computer Science from the University of Oslo (2018-2021)
Karl Frederik Hellberg

Karl Frederik Hellberg

Hellberg is an analyst with a primary focus on Delphi Global. He joined Delphi in 2025. Hellberg holds a MSc Investment Management degree from Bayes Business School (formerly Cass), City University in London (2021-2022).

  • Assistant Portfolio Manager at Delphi Funds (since 2025)
  • Business Analyst at Storebrand Asset Management (2023-2024)
  • BSc Economics and Business Administration from Copenhagen Business School (2018-2021)
Adil Shah

Adil Shah

Shah is an analyst with a primary focus on Nordic equities. He joined Delphi in 2021. Shah holds a MSc Investment Management degree from Bayes Business School (formerly Cass), City University in London (2009).

  • Portfolio Manager Nordic Equities (since 2021)
  • Portfolio Manager for Nordic and Global equity funds at Eika Kapitalforvaltning (2015-2021) 
  • Analyst at Sissener Kapitalforvaltning (2010-2015)
  • Analyst at DNB Asset Management (2007-2008)
  • BSc Finance from BI Norwegian Business School (2007)