Stockholm (HedgeNordic) – One of the much awaited fund launches of the year has just postponed its first investment opportunity for Swedish investors which was set for 31 May. Rhenman & Partners, which were aiming to broaden the fund range next to their Healthcare Equity L/S fund by adding Rhenman Global Opportunities L/S, announced the marketing authorization in Sweden has not yet been completed.
In a statement, Rhenman & Partners writes: “Unfortunately, this week we were informed that the processing time for Swedish marketing authorization has dragged on, which means that we have to postpone the fund launch.”
No specific reason is given for the delay, nor is there a new target date communicated. “Responsible coordinator of the process in Luxembourg is SEB Fund Services S.A., and for the Swedish marketing authorization, it is SEB AB. These two institutions have extensive experience in fund launches and they both have good knowledge of how to run a normal licensing process smoothly. This time, different circumstances beyond our control has led to a delay.”
With Rhenman & Partners Healthcare Equity L/S being closed for new investors since December2015 (soft close), the Stockholm based asset manager currently has no product on its home market to market. Rhenman and Partners notes that “Rhenman Global Opportunities L/S is approved by the CSSF – financial regulator in Luxembourg – and that it is only the Swedish marketing authorization process, administered by SEB AB and Finansinspektionen (FI), which has not yet been finalized.”
HedgeNordic interviewed Staffan Knafve, the designated portfolio manager of Rhenman Global Opportunities L/S on his trading approach and strategy. The interview can be read here: Interview Staffan Knafve, Rhenman Global Opportunities L/S
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