Protean Funds May 2024 Partner Letter [Seeking Alpha]
FORTUM OYJ CP UNSP/ADR (FOJCY)
NASDAQ:AMEX Investor Relations:
www3.fortum.com/about-us/investors/focus
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Source: Seeking Alpha
Protean Funds Scandinavia AB was founded in January 2022 and the funds are managed by Pontus Dackmo and Carl Gustafsson. Protean Small Cap returned 7.2% in May, outperforming the benchmark index by 2.2%. Top contributors to the fund's performance were Acast, ITAB, Proact, and Raysearch. Protean Select posted a 3.7% return for the month, with top contributors including Acast, Raysearch, Lindex, Ambea, and Fortum. Beating the Street Dear Partners, Protean Small Cap continued its strong performance and returned 7.2% in May. That is 2.2% ahead of the CSXRN (SEK) benchmark index for the month. Performance since inception in June 2023 stands at +37.2%, outperforming the index by 17.3% in its first year. We are particularly pleased with the quality of returns: the portfolio is diversified; no single position has at any time been larger than 5% until Acast (ACASF) reached that level due to its performance in May. Top contributors were Acast, ITAB, Proact, and Raysearch ( OTCPK:R
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