- Advertisement -
- Advertisement -

Related

New PPM Platform Rules Trigger Multi-Fund Merger

Latest Report

- Advertisement -

Stockholm (HedgeNordic) – Several funds managed by asset managers Cicero Fonder, Zmartic Fonder and Max Matthiessen are set to merge into asset allocation fund Cicero World 0-100 early next year. The merger comes after the Swedish Pensions Agency published new rules for funds seeking distribution through the Swedish premium pension system (PPM). The merging funds rely on capital from the PPM platform.

Zmartic Fonder AB, which manages equity long/short market-neutral fund Zmart Alfa and three other traditional mutual funds, has agreed to sell its fund operations to Cicero Fonder AB. According to the agreement, the four vehicles will be merged into Cicero World 0-100 against the issuance of units to the investors or unitholders of the merging funds, which will be dissolved following the completion of the merger. The merger will close on February 27 next year, but the unitholders of Zmart Alfa and the other three funds can redeem their units until February 22.

Under the new rules, only funds with at least SEK 500 million in assets from investors outside the PPM system can access the PPM platform. Market-neutral fund Zmart Alfa manages SEK 230 million in assets, therefore, fails to meet the just-mentioned requirement. Zmart Alfa, currently a member of the Nordic Hedge Index (NHX), returned 9.9 percent since launching in March of 2015.

 

Picture © alice-photo 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

Elementa Tops Swedish Hedge Fund Universe in H1

After celebrating its ten-year anniversary in March, long/short equity fund Elementa closed the first half of 2025 as the best-performing Swedish hedge fund, delivering...

Asgard Winds Down Macro Strategy, Refocuses on Fixed Income

Less than a year after the launch of Asgard-Steno Global Macro Fund – a collaborative effort between macro strategist Andreas Steno Larsen and fixed-income...

Eric Strand’s Green-Gold 60/40 Alternative Roars Back to Life

After a two-and-a-half-year drought, including a rough start to 2025, AuAg Precious Green has taken off in recent months. The fund, Eric Strand’s innovative...

BNY Debuts Tail-Risk Overlay Fund

BNY Investments Newton, the specialist multi-asset and equity management arm of BNY Mellon, has launched the BNY Adaptive Risk Overlay Fund – a tail-hedging...

Taiga Fund Delivers Best First Half Since 2019

Usually operating under the radar, Norwegian long/short equity vehicle Taiga Fund delivered one of its strongest first-half performances to date – its best since...

Quirky Questions for Harold De Boer (Transtrend)

Not every conversation in the hedge fund world needs to revolve around alpha, trend signals, or trading models. In HedgeNordic’s Quirky Questions series, we ask industry...

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.