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Länsförsäkringar’s Hedge Fund Starts New Journey

Report: Systematic Strategies

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Stockholm (HedgeNordic) – Länsförsäkringar Multistrategi, a hedge fund that embarked upon a new path and journey after a new team took over the portfolio management duties in mid-June, has now joined the Nordic Hedge Index. Martin Axell and Sebastian Hallenius (pictured) assumed responsibility for the day-to-day management of the multi-strategy fund on June 12.

Before the duo took on the new role, Länsförsäkringar Multistrategi had been managed by portfolio manager Peter Fitzgerald from global asset manager Aviva Investors. Launched in mid-September 2016 with €49 million in assets under management, the fund has been employing a variety of investment strategies across currencies, equities, bonds, real estate, among other asset classes and securities. The fund aimed to generate an annual return of five percent above the risk-free rate regardless of the direction of financial markets.

Following the appointment of the new portfolio management team, Länsförsäkringar Multistrategi continues to employ a range of global strategies across the corporate capital structure. To protect against drawdowns in periods of market stress, the new team builds a portfolio of hedges comprised of government bonds, inflation-protection strategies, stable currencies, and insurance bonds.

Axell and Hallenius, who are co-heading the Länsförsäkringar Multi-Asset team, aim to achieve a higher risk-adjusted return than peer hedge funds in the low to medium risk range (3-7 percent annual volatility). The fund’s fee structure was also changed following the appointment of Axell and Hallenius as the fund’s portfolio management team. The annual management fee was reduced to 1 percent from the previous fee of 1.5 percent. Länsförsäkringar Multistrategi does not charge a performance fee.

 

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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

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