Times change. Sound investing principles don’t.
Our firm
Aristoi Capital Management Ltd(“Aristoi”) is an investment management firm founded with the purpose of growing our client-partners’ capital at exceptional rates.
“Every aspect of our firm is designed to improve our chances of achieving meaningful and lasting excess returns. Our strategy to accomplish this is to create a stable and peaceful environment supportive of rational, independent and long-term thinking.”
Aristoi is fully independent. This is critical for guaranteeing the integrity of our investing activity. Investment opportunities are often peculiar and sometimes controversial, and gaining required conviction often personal. Returns are earned by being right, and often by delaying gratification further than what most other investors are able to. On the way some volatility and adversity are unavoidable, and staying the course requires stable, long-term and well-capitalized ownership.
We have an investment committee of one. Our long-term investment success – if any – will principally depend on our investment manager’s competence. Our decision-making doesn’t suffer from groupthink, office politics, organizational layers or interfaces: We know what we have and haven’t done, who did it, and what our thinking is based on. We don’t try to hide our mistakes, nor do we evade responsibility.
This investing activity is enabled by the right type of employees taking care of all the other activities of the firm. Our people share the same, right culture, and are rewarded with right incentives. We aim to combine clear accountability with high levels of trust. Also our Board of directors supports keeping investing at the center of what we do.
We look to partner only with the right type of clients. The investing we do neither requires nor allows client participation, which our client-partners consider positive. They want to spend their time on other things, and want us to spend our time investing, not entertaining them or writing them pointless market reviews. They are mentally committed to the long haul, as there cannot be long-term investing without equally long-term capital.
We have designed our service as partner-friendly as possible given business and regulatory realities. Aristoi is designed with a partnership in mind, and we feel that our interests are aligned with those of our clients in a unique way.
Undeterred by the odds stacked against all active investors, we believe that our investment strategy, people, and how we manage our firm give us more than a fighting chance over a vast majority of other market participants.
Aristoi Capital Management Ltd was founded in 2018. It’s regulatory minimum capital is 50,000 euros and it is fully owned by its staff.
Most of our competitors go marketing first. Some go service first. We go investing first.
People and culture
Aristoi is built upon a culture of honesty, professional excellence and purposeful service. Our skilled employees are supported by an experienced board of directors, and a group of high-quality co-operation partners.
Employees
Paul Sundqvist
Antti Bergholm
Jaro Willman
Board of directors
Antti Bergholm
Juha Karttunen
Kim Karhu
Jorma Yli-Jaakkola
Co-operation partners
We are happy to provide information about our trusted co-operation partners to our current and future client-partners.
Aristoi Capital Management Ltd is audited by KPMG.
Investment strategy
We invest long-only in international publicly listed securities by applying sound and time-tested principles learned from some of the best investors in history. What we do has not changed for a very long time.
All intelligent investing is value investing. We look for mispricings opportunistically in a wide variety of cases, but make investments only when we can form an informed opinion about the risks, prospects, economics and valuation of our target. Our portfolios are constructed with a limited amount of positions often with very different weights. Holdings are kept for a number of years, making occasional changes to control risk, or to go after even more attractive opportunities. We are risk-averse, return-on-investment-focused, and tax-conscious.
Risk is managed by striving to stay within our circle of competence, knowing what we own, investing only with a sufficient margin of safety, and maintaining appropriate diversification. Knowledge of history helps, as does healthy paranoia, but there is no substitute for separately thinking through each investment.
No investor can fully escape bad luck, but mistakes can be reduced by keeping our own biases and other human shortcomings in check. Hence, we apply a bespoke investment process designed with our own personality and background in mind. Furthermore, we believe that our timeless investment principles provide some shelter against conditions rarely experienced, and the ever-unpredictable future.
We try to keep an open mind, explore, trial and learn. No matter how successful we have been in the past, our true motivation comes from becoming even better in the future.
We are committed to responsible investment, that aims to incorporate environmental, social and governance (ESG) factors into investment decisions and ownership practices. We are happy to tell more about our responsible investment activities to our current and future client-partners.
How we treat our clients
“Aristoi” (the best) refers first and foremost to our valued client-partners.
We don’t compete for most customers or most capital, but for the best clients with some of the smartest capital in the market. Our client-partners “get it”, and agree that our approach serves their interests better than competing offerings.
Such clients are a privilege. We consider ourselves truly successful only if both our investment returns and client satisfaction are among the best in financial industry. This will not be over every month or every year, but it is what we aim for over any reasonably long period of time.
We are honest, open and frank. We prefer plain talk, and want to give our client-partners the information we would wish to receive if our positions were reversed. Few of our competitors operate like this – mostly because they can’t afford to.
Our communication both before and during relationship aims to educate our client-partners about what we try to achieve, and how. Clients can compare our words against our actions and outcomes, which we believe provides a much sounder base for an intelligent assessment than any arcane risk or efficiency figures. Over time, we hope this to build understanding and trust in our work.
Nevertheless, Aristoi is a commercial for-profit enterprise, promoting its own services. We do not give investment advice, neither independent nor non-independent, nor do we offer many other services. We simply aim to offer our clients an exceptional deal, where the returns after fees more than justify the additional risk and effort involved. We’re keeping our fees lower than what we could possibly charge, and will not raise them unless we must.
Our offering does not become obsolete. There is no need or use in trying to time our service. Once a client-partner has selected us, there should rarely be a reason to quit, or to even keep looking for better alternatives. Our aim is to partner with our clients for the life of our company. The longer our client-partners’ investment period, the bigger difference we can make on their financial future. Most of the time the best moment to start investing is “now”.
We cannot give any guarantees we will be successful. The only guarantee we can give is that our Investment Manager invests most of his life savings alongside our client-partners. Not only because it’s the right thing to do, but also because our investments are generally highly promising. We eat our own cooking, and – for richer, for poorer – share the eventual returns, treating you as partners along the way.
We invest our clients’ money only in assets we’d be willing to invest our own money – because we do.
How to become a client
Aristoi’s service is aimed at a limited group of non-retail investors.
Our private clients are typically high-net-worth individuals who have led a successful professional career, entrepreneurs who have sold their business or want to diversify their holdings, or heirs to substantial family wealth.
Our institutional clients are non-profit foundations, pension funds and university endowments supporting science, culture, welfare and other valuable societal causes.
Our clients share our goal of exceptional capital appreciation with acceptable risk, and are able to provide the time horizon and trust required to achieve it.
We do not provide comprehensive wealth management, and insist that our client-partners keep also other suitable investments. Our role is to form a valuable component (“satellite”) in our client-partners’ portfolios. The extent of our mandate can vary depending on what we consider appropriate.
Legally our service is structured as discretionary portfolio management with a power of attorney. This means that our clients entrust us with a part of their total portfolio, and we make all investment decisions for it. This happens within the boundaries of our client agreement, but without separately consulting the client.
If you’re interested in entrusting us with your capital for a long while, feel free to contact us.
Risks
Like other investments, also asset management services involve risks. These risks are partly general, and partly specific to our service. Investors should fully understand all the risks associated with any kind of investing they choose to do, and services they buy. All investment decisions of an individual/institution remain the sole responsibility of that individual/institution.
This asset management service carries the risk of substantial loss of principal. Over time, the portfolio may, and is likely to show substantial market price volatility and occasional losses of more than -50 % from its highest value. Certain individual investments within the portfolio may, and possibly will result in complete loss of that capital. Losses on entire portfolio can be aggravated if the service is interrupted for any reason on too short a time horizon.
No investor should enter this or any other investment without fully understanding the worst-case scenarios of that investment, and full ability to carry them.
We make our best effort to involve all information relevant to our services in our documentation. However, part of the information we publish is derived from governmental agencies without our independent verification from the source. Therefore, we cannot assure you that the information is fully accurate or complete. We are not liable for any direct or indirect harm, cost or loss resulting from acting upon this information.
Past performance is not necessarily indicative, and no guarantee of future results.
Contact us
email: investors@aristoi.fi
tel: +358 10 – ARISTOI (+358 10 274 7864)
We do not accept client instructions or orders by telephone. All meetings and e-mail correspondence between potential clients and the firm are documented and recorded. For more information about our policies, contact us at above.
Aristoi Capital Management Ltd.
Eteläesplanadi 8, 00130 Helsinki, Finland.
Registration Number 2866806-1