- Advertisement -
- Advertisement -

Related

New PPM Platform Rules Bring Down Sharp Europe

Latest Report

- Advertisement -

Stockholm (HedgeNordic) – Europe-focused hedge fund Atlant Sharp Europe will merge into equity fund Viking Fonder Sverige in mid-December after the Swedish Pensions Agency published new rules for funds seeking distribution via Sweden’s premium pension system (PPM). With one of the new regulatory requirements demanding funds to have at least SEK 500 million in assets from investors outside the PPM system, Atlant Sharp Europe’s heavy reliance on PPM capital means the fund will no longer be allowed to access the PPM platform.

Coming into force on the first day of November, the new rules announced by the Swedish Pensions Agency – the operator of the PPM platform – also stipulate a minimum track record of three years for each fund and their fund managers, as well as minimum mandatory requirements for sustainability practices. The funds which fail to meet the new requirements will be taken off the PPM platform in 2019, according to the Swedish Pensions Agency, with the deadline for applications set for December 28, 2018. Since Atlant Sharp Europe oversees SEK 40.31 million in assets under management through its A share class and SEK 2.14 million through the B share class, the fund will not be able to use the PPM platform to reach pension savers in Sweden.

Following the approval of the Finansinspektionen, Atlant Sharp Europe, a hedge fund employing equity-related derivative strategies on the EuroStoxx50 Index, will be merged into Viking Fonder Sverige on December 20, 2018. Investors holding units in Atlant Sharp Europe will receive units in the Sweden-focused equity fund managed by asset manager Viking Fonder corresponding to the value of their existing units. Unit holders in Atlant Fonder’s Sharp Europe can also sell their units by December 12, 2018.

 

Picture © Aysezgicmeli—shutterstock

Subscribe to HedgeBrev, HedgeNordic’s weekly newsletter, and never miss the latest news!

Our newsletter is sent once a week, every Friday.

Eugeniu Guzun
Eugeniu Guzun
Eugeniu Guzun serves as a data analyst responsible for maintaining and gatekeeping the Nordic Hedge Index, and as a journalist covering the Nordic hedge fund industry for HedgeNordic. Eugeniu completed his Master’s degree at the Stockholm School of Economics in 2018. Write to Eugeniu Guzun at eugene@hedgenordic.com

Latest Articles

Mapping the Finnish Hedge Fund Landscape

Beyond operating as a media platform, HedgeNordic maintains an extensive database of Nordic hedge funds and related data. Although the data is not without...

Quirky Questions for Serge Houles (Tidan Capital)

Not every conversation in the hedge fund world needs to revolve around alpha, Sharpe ratios, or fund flows. In the ongoing Quirky Questions series,...

Quirky Questions for Mette Østerbye Vejen (Caba Capital)

Not every conversation in the hedge fund world needs to revolve around alpha, Sharpe ratios, or fund flows. In the ongoing Quirky Questions series,...

Solid First-Half Finish for Nordic Hedge Funds

Nordic hedge funds wrapped up the first half of the year on a solid note, delivering an average gain of 1.4 percent in June....

Brevan Howard Winds Down Volatility Fund Managed by Ville Helske

Brevan Howard Asset Management is winding down a volatility-focused hedge fund run by high-profile Finnish portfolio manager Ville Helske. Helske, formerly Head of Allocation...

Ymer to Launch Fourth CLO Fund with Proven Strategy and Structure

Building on the track record of three previous credit funds, Swedish alternative credit specialist Ymer SC AB is preparing to roll out its fourth...

Allocator Interviews

In-Depth: High Yield

Voices

Request for Proposal

- Advertisement -
HedgeNordic
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.