Cleaves Asset Management founder Joakim Hannisdahl has left the hedge fund he started just over a year ago under the auspices of Cleaves Securities.
The analyst-turned-investor told TradeWinds he resigned his position at the firm “due to irreconcilable differences” between the Cleaves head office and himself.
“I have done my utmost to continue the fund as a going concern with me as the fund manager, but I have been unsuccessful in my efforts,” he said in a statement.
“The investors are always my top priority and I feel personally responsible for the current situation, despite the situation having arisen due to actions taken which are outside my control.
“I have continuously delivered strong returns to my investors for many years and I have the intention to continue doing the same in the future. The shipping fund was close to a new all-time high the last day I was the fund’s manager.”
Hannisdahl launched the shipping-focused fund in September 2021, after a decade as an analyst and touting a “strict” econometric model he said helped him to become one of the industry’s top observers.
He had been with Cleaves since 2018, joining after selling Gersemi Research to the shipbroker and financial services outfit, according to his LinkedIn profile. He founded Gersemi in 2017.
The fund made well-publicised plays into dry bulk earlier in the year and a quick switch to tanker and gas carrier owners in the wake of Russia’s invasion of Ukraine.
Cleaves was approached for comment.
A note from Cleaves chief executive Per Olav Karlsen to fund investors said the unnamed head of fund management at Cleaves would be leaving his post immediately and would be replaced with a “new experienced team”.
