Stockholm (HedgeNordic) – Value-oriented fund Pandium Global is officially going live as Carnegie Global as of the beginning of September, several months after fund manager Carnegie Fonder reached an agreement to take over the fund and hire its portfolio manager, Mikael Tarnawski-Berlin (pictured).
The new Carnegie Global fund, an actively managed equity fund that started operating on September 3, was launched in February 2014 as Pandium Global. The fund has been run by the same manager and followed the same management philosophy since inception. Pandium Global generated a cumulative return of 92.0 percent since its inception through the end of August of this year, corresponding to a compounded annual return of 15.3 percent. The value-oriented fund gained 20.8 percent this year through August.
“In recent years, there has been great demand for an equity fund that invests globally with no geographical restrictions. We have been waiting to respond to this demand until we had the appropriate management expertise in place, and that time has now come,” Carnegie Fonder’s chief executive officer, Hans Hedström, was quoted in a press release announcing the launch of Carnegie Global.
Speaking of the investment philosophy of Carnegie Fonder and the new Carnegie Global fund, Mikael Tarnawski-Berlin says: “We are value investors. This means that we invest for the very long term in a few good companies that are well managed – if they are undervalued.” Although Carnegie Global invests globally with no geographical restrictions, the fund does not invest in several industries such as alcohol, tobacco, gambling, and fossil fuels. Not only does Carnegie Global avoid these industries, but the fund also invests only in companies complying with international conventions on environment, human rights and corporate governance. “Sustainable companies are just better companies,” says fund manager Mikael Tarnawski-Berlin.
Prior to being renamed into Carnegie Global and joining the Carnegie family of funds, Pandium Global was structured as an alternative investment fund (AIF). The new fund operates as a UCITS fund under the stewardship of Carnegie Fonder.