Attractive businesses
Look for financially sound companies with durable competitive positions and credible growth opportunities.
Baltic Market LeadersEquity
Investing in a market we know first-hand.
Baltic Market Leaders is a concentrated portfolio of 6-10 listed Baltic companies selected through local research, financial quality analysis and long-term business assessment.
Minimum investmentEUR 25,000
Strategy facts
A focused equity strategy built on direct research of listed Baltic companies and close knowledge of the local market.
- Strategy name:
- Baltic Market Leaders
- Strategy code:
- BML
- Investment focus:
- Equity
- Investment structure:
- Individually managed mandate portfolio
- Managing entity:
- Alphinox Quality AS
- Minimum investment:
- EUR 25,000
- Benchmark / comparator:
- Baltic Main List
- Reporting currency:
- EUR
- Published performance data:
The Baltic opportunity
A small market rewards closer attention.
The Baltic states host a diverse group of listed businesses operating locally, regionally and internationally. In a smaller and less-followed market, detailed company research and local context can matter more than broad market coverage alone.
Local expertise
Use direct knowledge of Baltic companies, industries and market structure rather than treating the region as a generic small-market allocation.
Long-term opportunity
Focus on businesses with the capacity to compound value over years, not simply react to short-term market momentum.
Our research heritage
Quality research with roots in 2008.
Alphinox has organised the Baltic Corporate Excellence work since 2008, creating a long-running research foundation for assessing listed Baltic companies on financial strength and business-model quality.
Baltic Corporate Excellence is a research foundation, not a mechanical portfolio-selection rule. Strategy decisions additionally incorporate valuation, management assessment, company-specific research, risks and portfolio fit.
01
Corporate Excellence analysis
Financial strength and business-model quality.02
In-depth company research
Competitive position, strategy, management and risks.03
Valuation and investment assessment
Attractive price, long-term return potential and portfolio fit.04
Portfolio construction and monitoring
6-10 companies, active monitoring and a long-term horizon.Portfolio construction
A focused portfolio of Baltic market leaders.
6-10Typically around 8 companies
BalticListed equities in Estonia, Latvia and Lithuania
FundamentalResearch-driven selection
Long-termActive monitoring and continuous research
Selection principles
- Strong financial health and balance sheets
- Healthy cash generation
- Sustainable growth prospects
- Competitive advantage and market position
- Competent management
- Baltic focus
- Long-term investment horizon
- Active monitoring and continuous research
These principles inform the strategy but do not create a mechanical selection rule. Portfolio decisions also incorporate valuation, management assessment, company-specific research, risks and portfolio fit.
Performance
Performance with a clear methodology.
As of
- This year (YTD)
- 13.3%
- 1 year
- 22.3%
- 3 years — per year
- 21.7%
- 5 years — per year
- 12.6%
- Since inception — per year
- 17.1%
- Maximum drawdown
- -22.1%
Cumulative performance, indexed to 100
Both series start at 100 on the first published date.
Baltic Market Leaders 381.31 · Baltic Main List 139.02 ·
Includes modelled Baltic Corporate Excellence-based history through ; actual managed portfolio from .
History: – · EUR.
Benchmark: Baltic Main List · EUR, equal weighted, Net Total Return.
Net Total Return, before Alphinox management fees
Methodology and disclosures
Modelled Baltic Corporate Excellence-based history through 31 Aug 2023.
Actual managed portfolio effective 1 Sep 2023; the first actual month-end observation is 30 Sep 2023.
Past performance does not guarantee future results.
Risks and suitability
A concentrated strategy for long-term investors.
BML is a concentrated regional equity strategy. It carries company-specific, regional, liquidity and market risks and can behave very differently from broad global equity indices.
- Active Baltic equity exposure
- Comfort with concentration
- Understanding of regional and liquidity risks
- Long-term investment horizon
Full strategy risk context
Individual company developments, regional economic conditions, limited market liquidity and broader equity-market moves can materially affect returns. A concentrated regional portfolio can diverge significantly from global equity markets.
Investment structure
Individually managed mandate
Tailored to the client's account under the agreed mandate.
Assets remain with the client
Client assets remain in the client's own account with the custodian bank.
Minimum investment
EUR 25,000
Need help arranging the account? We work with several custodian banks across Europe and support account opening, ongoing bank communication and portfolio management under the agreed mandate.
Explore bank and account supportStart with the objective, not the product.
Tell us what you are trying to achieve and we will explain whether Baltic Market Leaders fits that objective.