Stockholm (HedgeNordic) – Former hedge fund manager Eric Strand (pictured) is planning the launch of at least one new fund in 2020 as part of an extended cooperation with fund management company AIFM Group, according to a press release. The soon-to-be-launched fund, AuAg Green Gold, is a UCITS fund that allocates 60 percent to the green-tech sector and 40 percent to gold and other precious metals.
“It is always very exciting to work on a new fund and see it come alive,” Strand comments on the upcoming launch. “I look forward to going international with our EUR-asset class focusing on the Nordics, where Finland will be our first destination.” Strand’s collaboration with AIFM started last year when they joined forces to bring to the market innovative funds that focus on precious metals and green-tech-elements such as lithium, platinum, and palladium.
AIFM has been “everything you want as a portfolio manager so that you can fully focus your attention on the market,” Strand comments on the collaboration with AIFM. “AIFM is top of the line both as an administrator of the fund as well as a service provider for all questions or wishes I may have – making my job easy.”
In November of last year, Strand and AIFM launched silver-focused long-only equity fund AuAg Silver Bullet. The fund managed by Strand is up 1.2 percent year-to-date through June 12 after gaining about 48 percent quarter-to-date. Despite turbulent market conditions so far in 2020, AuAg Silver Bullet has received strong capital inflows and considerably widened its investor base. The fund’s assets under management increased by about 150 percent from the pre-COVID-19 asset base.