• Our portfolios

    BLS Capital manages two portfolios: Danish Equities and Global Equities. Both portfolios are founded on the same investment philosophy focusing on the generation of attractive risk-adjusted returns over the long term to our co-investors.

    Learn more…

  • Our investment team

    BLS Capital was established in 2008 and is owned by the two investment professionals, Peter Bundgaard and Anders Lund. The investment professionals are required to invest all of their investable assets in portfolios managed by BLS Capital.

    Learn more…

  • Company information

    It is important to us at BLS Capital to be open and accessible to our co-investors. We are therefore always available if you want to know more about us, our companies or our investment philosophy.

  • Invest with us

    You can invest in our portfolios through the fund BLS Invest, which is advised by BLS Capital. The fund has three sub-funds; Danish Equities, Global Equities, and Global Equities Akk., all of which are publicly traded and have daily subscription and redemption.

    Learn more…

  • Our companies

    Please fill in the form on the right to subscribe to our newsletter and/or receive the 9th edition of our book “Our Companies” – in which you can read more about the portfolio companies in BLS Invest.

    If you require any further information or wish to be contacted, please advise us thereof in the “message” box.

  • book

S&P Global

In 2013, the company promoted a CEO from outside the McGraw family, and Douglas L. Peterson has managed to elevate what was already a great profit margin to new, impressive heights. S&P Global has an impressive market dominance not found in many other industries or companies globally.

Debt is often regarded as an attractive way of financing business expansions or parts of daily operations, and just like individuals, businesses try to secure the best possible terms. for that to happen, it is virtually a necessity for companies to get a credit rating from either S&P Global or Moody’s,

Læs mere...

Novo Nordisk

Novo Nordisk remains a powerhouse with an impressive ability to innovate, a focus on the long term, market leadership and strategic position on key markets which is envied by almost everyone in the pharmaceutical industry. In the years ahead, we have a favourable view on Novo Nordisk’s product portfolio, and there is a small and somewhat overlooked product group that is growing in size and strategic importance.

Novo Nordisk is a global market leader that eases illnesses and improves the daily life of people around the world. After a weak stock exchange performance in 2016, the share price

Læs mere...


One of Denmark’s undisputedly best-managed companies, with a share price that has been challenged over the last few years. However, we do not think this is warranted, and find Coloplast to be a growth and earnings machine that keeps blazing ahead. A management team with a long-term focus, a great ability to innovate and growth opportunities in both East and West continue to make us happy shareholders.

In the short run, the stock market does not always reward the best long-term decisions, and in our view Coloplast exemplified this well in 2017. The share price development did not reflect how

Læs mere...


Mastercard is in a sweet spot, where the demand for the company’s services is growing significantly. Thus, the underlying growth is excellent for one of the world’s leading payment networks, and so is the marginon the core business. It is so high, in fact, that many other highly profitable industries can only look at with envy. Exciting potential awaits in India.

Electronic payments are becoming an increasing part of everyday life all over the world, whether it be paying with cards in stores, online shopping or through smartphone apps. Mastercard is one of the world’s leading payment

Læs mere...


The integration of American, UTi, has resulted in significant margin increases at DSV, and we contribute the unique corporate culture of this freight forwarder. Time after time, textbooks state that acquisitions destroy value. Time after time, DSV has proven differently.

The story of DSV starts with eleven truckers joining forces. This took place in 1976, when Leif Tullberg lead the integration desiring collaboration and economies of scale. The rest is history. While DSV started with a focus on road-transportation, today the majority of earnings are in the attractive markets for air and sea

Læs mere...

Ringkjøbing Landbobank

No other Danish banks can compare with the results achieved at Ringkjøbing Landbobank, where efforts to keep the costs under control are in a league of their own. This is nothing new, and even though the bank’s senior management are very careful who they lend money to, the crafty businessmen from Ringkjøbing continue to find new niches that result in good customers, sky-high earnings and a low risk profile. Sweet music to our ears.

Ringkjøbing Landbobank is Denmark’s most cost-efficient bank, and you don’t earn this position by sitting back and letting things run their course. You

Læs mere...


SimCorp is an innovative player in a small, but quite profitable market. The Danish software developer of portfolio management systems has begun to gain serious ground with its products, landing a large portion of the investment managers switching software suppliers. In the United States, which is a vital market, there are indications that the US customers are also impressed by the Danish technology.

SimCorp is a global market leader in the attractive market for systems for portfolio managers’ monitoring of portfolios, sending up-to-date information to optimise decision-making

Læs mere...

BLS Invest Net Asset Value

Please be aware that on January 23rd, 2019, BLS Invest Global Equities and BLS Invest Danish Equities have paid DKK 306 per share in dividends.

BLS Invest Danish Equities: 1346.97     BLS Invest Global Equities: 1919.68
BLS Invest Global Equities Akk.: 1752.20

Last update on Feb 15th at 16:12

*) Returns in DKK after all costs, and including reinvested dividends.
**) Market is represented by the OMX Copenhagen Capped index (KAX CAPPED) and MSCI World from launch and to January 1, 2011 and from January 1, 2011 by MSCI All Countries World (MSCI AC WORLD) – both include reinvested dividends.