Stockholm (HedgeNordic) – Stockholm-based alternative investment manager Resscapital AB has announced the addition of Fredrik Thor (pictured) as new portfolio manager to Ress Life Investments, strengthening its existing portfolio management team. Thor joins Resscapital after a 15-year journey at Swedish pension fund AMF Pension.
“With his long experience in financial markets and portfolio management, Fredrik brings valuable knowledge to our company,” Gustaf Hagerud, the managing director of Resscapital, comments on Thor’s appointment. “As an investment manager in a complex asset class, Fredrik’s strong academic background will further strengthen our ability to deliver attractive and predictable returns to our investors,” he adds.
Ress Life Investments invests in the secondary market for U.S. life insurance policies in an attempt to provide uncorrelated returns. The investment vehicle acquires life insurance policies from original owners for lump sums lower than their face values, but much higher than the surrender values policyholders can get by voluntarily terminating the policies. Ress Life Investments then takes over the payments of premiums and receives the insurance payout upon the insured’s death. The fund returned 9.9 percent last year, handily beating its annual target return of seven percent. Ress Life Investments was last year’s fourth best-performing member of the Nordic Hedge Index (NHX).
Fredrik Thor has 25 years of experience in the financial industry, including many years as portfolio manager of global equities at AMF Pension. During his 15-year tenure at AMF, he was also active in infrastructure investments and served as a director of offshore windfarm company Ormonde Energy Limited. Thor also has experience in equity derivatives, experience acquired between 1994 and 2003 as part of ABB Aros Securities.