Alda Asset Management hf.

ALDA Asset Management is an authorized UCITS management company according to Act No 161/2002 on Financial Undertakings, and is licensed by the Financial Supervisory Authority of Iceland .

Established in 2013 Alda Asset Management is a leading boutique asset management company in Iceland dedicated to serve institutional investors and corporate clients. Our client base include pension funds, insurance companies, foundations and corporates. We are an independent asset manager and our focus is on equities, fixed income and alternative products and funds investing predominantly in Iceland. We offer as well a broad range of high quality international products in cooperation with our partners. ALDA Asset Management is an active fund manager. We rely on analytical research, own forecasts, insight and judgement as well as our experience in investment decisions. Our aim is to provide our investors with superior long term risk adjusted returns. Key persons at the company have long term experience in fund management and have received highest rankings from Morningstar and Lipper. The company is solely in ownership of employees and we are steadfastly putting our clients' interests first. We are committed to deliver our clients with best solutions and services. To achieve this we are passionate about our work in providing highest industry practises and products across all investment categories.

Board of Directors:

  • Dr. Birgir Orn Arnarson, Chairman of the Board
  • Egill Thor Sigurdsson
  • Dr. Oli Gretar Blondal Sveinsson
Thorarinn Sveinsson is the Chief Executive Officier of ALDA Asset Management.

Birgir Orn Arnarson, Chairman of the Board
Mr. Arnarson holds Ph.D. in Theoretical Mechanics from Cornell University (1999). He has concluded the Certified Brokerage Exam. Mr. Arnarson worked in the Risk Management Division at Kaupthing bank in Iceland from 1999-2008, and as Managing Director of Risk Management in Kaupthing Iceland from 2005. He was Managing Director of Risk Management for New Kaupthing bank during 2008 - 2009. He served as a Board Director for many Fund Management Companies from 2004 and led the Basel II implementation within the Kaupthing Bank group. Mr. Arnarson has overseen and participated in projects that have been ground breaking for the Icelandic Financial Market including Asset Liability Simulation and Research for Pension Funds and Simulation and Dynamic Allocation for Asset Backed Security Issuance, including the € 2bn Covered Bond Program for Kaupthing. Many of the biggest Pension Funds of Iceland have sought his advice for Risk and Asset Liability Management. Mr. Arnarson has been the Head of Market Risk Analytics within Investment Management at Zurich Insurance Group since 2011.

ALDA’s Directors Key Qualificatons:

Thorarinn Sveinsson, Chief Executive Officier
Mr. Sveinsson holds M.Sc. (SM) in Engineering from MIT (1995). He has concluded the Certified Brokerage Exam. He started his career as the Head of Transportation Systems and Logistics at Samskip hf. 1995-1998. He started at Kaupthing in 1999 as Senior Vice President of Corporate Finance and M&A. He became Managing Director of Alternative Investments, Asset Management in 2001 and Managing Director of the Asset Management Division from 2003 to 2008. Under his leadership AUM grew fourfold to € 6 Billion over a 5 year period and the division became the largest Asset Manager in Iceland. Mr. Sveinsson was the Chairman of the board of number of Fund Management Companies within the Kaupthing Group. He hired staff and managed number of investment teams within the group, organized their actions, initiated new products, assessed performance, and made changes when needed. Furthermore, Mr. Sveinsson was responsible for the co-ordination of the Asset Management divisions in different countries within the Kaupthing Group with € 13 Billion in AUM. He has been the Chief Executive Officer of ALDA Asset Management since 2009.
Pia Michelsson, Managing Director of Business Development
Previously Deputy Head of Business Development Nordics at Aberdeen Asset Management, Mrs Michelsson has an extensive and long term experience in international asset management and working with institutional clients. She has been working her entire career with institutional clients and especially in the area of manager selection of equity, fixed income, property and other alternative products. She joined Aberdeen in 2010 where she was Head of Business Development Finland working with institutional and wholesale clients with great success. She started her career at Investment Banking unit of Banque Indosuez and was Head of Sales at Amundi Asset Management Finland until 2001 whereafter joining Sofi Financial Service, which was a pioneer of open architecture and manager selection. In 2006 she became the Deputy CEO of Kaupthing in Finland and prior that she was Head of Kaupthing Asset Management in Finland, while always maintaining key role in business development and sales. She finished her studies at the Swedish School of Commerce and Marketing and made her major in "Sales and Marketing of Mutual Funds" in 1990.
Arnor Gunnarsson, Managing Director, Equities
Mr. Gunnarsson holds BSc. in Business Administration from Reykjavík University (2001) and is a CFA® charterholder. He has concluded the Certified Brokerage Exam. He was the Head of Equities at Stefnir Asset Management Company in 2007 – 2013, member of Stefnir´s Investment Board and a Fund Manager of a multiple funds managing International and Icelandic equities. Under the management of Mr. Gunnarsson, the funds grew to be the largest funds managed by an Icelandic entity and the International Equity Funds were credited with highest ratings from Morningstar and Lipper. He was the Head of Fund Management in 2006-2007 and a Fund Manager of Frjálsi Pension Fund and other segregated mandates in 2002-2006. He started his career at Kaupthing hf. as a Specialist in the Asset Management division in 2001.
Thorkell Magnusson, Managing Director, Fixed Income
Mr. Magnusson holds M.Sc. in Mechanical Engineering from the University of Minnesota (2001) and Cand.Eng from the University of Iceland. He has concluded the Certified Brokerage Exam. He was the Head of Fixed Income at Stefnir Asset Management Company in 2007 - 2013, member of Stefnir´s Investment Board and a Fund Manager of multiple Fixed Income and Asset Backed Funds. He was a deputy Managing Director of Stefnir in 2009-2013. He oversaw and led the development in Asset Backed Securities and all issuance. Mr. Magnusson started his career as an Analyst at Kaupthing in 1998, and later became the Fund Manager of the Audlind Equity Fund hf. He was a Fund Manager of Icelandic and International Fixed Income Funds during the period from 2001-2007, except for 2002-2003 when he worked at Alcan now Rio Tinto Alcan.
Sigurður Ottó Þovarðarson, Vice President, Client Management

Sigurður holds Cand.oecon in Business Administration from the University of Iceland (1999). He has concluded the Certified Brokerage Exam. He was a Corporate and Commodity Analyst at IFS from 2011 to 2013. From 2006 to 2011, Sigurdur was head of Pension- and Financial Advisory at the Asset Management Division of Kaupthing, later Arion Bank. He started as a Financial Advisor within the Asset Management Division of Kaupthing in the year 2000.

Thordur Jonsson, Vice President, Credit Research
Thordur has an extensive experience in Corporate Credit, Credit Research and Credit Compliance from 1985 to YTD. Before heading Credit Research at ALDA, Thordur worked at KPMG as Senior Manager in Advisory and Business Consulting. From 2001 to 2011 Thordur worked at Arion Bank first as Head of Credit and later as General Manager in Corporate Banking. Prior to that Thordur spent 10 years at Islandsbanki first as a manager in Corporate Banking but then as Managing Director of Credit Control. He started his career in Corporate Banking and Credit Research at the Fishery Bank of Iceland in 1985. Thordur holds cand.oecon from University of Iceland.