- Advertisement -
- Advertisement -

Two New Danske Hedge Funds on the Horizon

- Advertisement -

Stockholm (HedgeNordic) – Traditional assets classes have enjoyed a solid run of performance since the financial crisis, but uncorrelated strategies are gradually stealing attention from long-only strategies. To meet increased investor demand for strategies uncorrelated with capital markets, Danske Bank Asset Management plans to launch two hedge fund vehicles in 2019.

One of the soon-to-be-launched hedge funds will seek to generate absolute returns by investing in the G10 currencies, the most actively traded currencies in the foreign exchange market. The fund is set to launch in the spring of next year and will be managed by Claus Venderby Hornsleth.

The second vehicle is a global macro hedge fund managed by Bo Bejstrup Christensen and Lars Tranberg Rasmussen. Christensen re-joined Danske Bank Asset Management in June of this year as chief portfolio manager of the new macro hedge fund. Rasmussen, meanwhile, joined the asset manager’s hedge fund team as senior portfolio manager earlier this month. Rasmussen has more than ten years of experience in financial markets and asset management, most recently having served as a senior portfolio manager in Danske Bank Asset Management’s solution team.

“Bo and I have been overwhelmed and humbled by the interest in the position. We are both extremely confident that we have found the right person,” says Michael Petry (pictured), head of hedge funds at Danske Bank’s asset management arm, about the appointment of Lars Tranberg Rasmussen as senior portfolio manager of the new macro hedge fund. “I look forward to adding Lars’ skills to the hedge fund team, as we continue on our journey to expand and enhance our hedge fund offering and execute our overall strategy,” he adds.

In contrast to the asset manager’s current suite of hedge funds, the soon-to-be-launched macro hedge fund will not cap assets at the usual level of €1 billion. According to Petry, the unconstrained inflow of capital was among the key reasons for developing the new macro-focused strategy, as it complements the existing range of hedge fund offerings. Petry anticipates the strategy to become market-neutral in the long-term. “Clients use our hedge fund strategies as components that are not correlated with the assets already residing their portfolios, mostly comprised of long-only fixed-income and long-only equity strategies,” Petry tells HedgeNordic.

Danske Bank Asset Management launched two hedge funds earlier this year, Danske Invest Fixed Income Global Value and Danske Invest Global Cross Asset Volatility. The first fund invests in bonds and money market instruments globally and manages €230.2 million in assets as of the end of October. Michael Petry anticipates this fund’s assets under management to double in the next couple of months.

“We have a very strong pipeline of interest from institutional clients, and at the same time, the fund will soon become eligible for Danske Bank’s private banking clients,” says Petry. Danske Invest Global Cross Asset Volatility, which seeks exposure to volatility risk premia across various asset classes, oversees around €58.0 million in assets as of the end of this month.

close

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

Most Popular This Week

Voices

Request for Proposal

- Advertisement -

Latest Articles

Lynx is Fund Company of the Year, Says Privata Affärer

Stockholm (HedgeNordic) – Lynx Asset Management has been named “Fund Company of the Year” by Swedish business magazine Privata Affärer. The distinction comes after...

RFP: Absolute Return Multi-Strategy/Fund of Funds

(Global Fund Search) - A Danish Institutional Investor is searching for an absolute return strategy for an allocation of EUR 40 million. The mandate...

Brummer Multi-Strategy Navigates 2022’s “Perfect” Storm

Stockholm (HedgeNordic) – 2022 experienced a “perfect” inflation storm due to an unprecedented amount of monetary and fiscal policy stimulus during the pandemic, war,...

Dream Comes True for Grönblom

Stockholm (HedgeNordic) – Ernst Grönblom had been running his high-conviction strategy of cherry-picking the stock market’s undervalued future winners under the umbrella of United...

Boarding the Broader Alternatives Ship

Stockholm (HedgeNordic) – Tore Davidsen, portfolio manager of SEB Eureka Fixed Income Relative Value since its launch in 2018, will join BankInvest as Senior...

Year of Stabilization of Interest Rates

By Kari Vatanen, CIO of Veritas: The year 2022 was a year of negative surprises in the investment markets and in the global economy. Hopes...