Fund Manager Leaves DNB

Stockholm (HedgeNordic) – Jon Sigurdsen (pictured), former portfolio manager of now-closed DNB ECO Absolute Return, is leaving DNB Asset Management to focus on managing his own assets, according to a press release by DNB’s asset management arm. Sigurdsen was part of DNB’s Renewable Energy team as lead portfolio manager alongside co-portfolio manager Christian Rom.

Jon Sigurdsen used to manage both DNB Renewable Energy, a long-only equity fund focusing on companies operating in the renewable sector, and its market-neutral version, DNB ECO Absolute Return, alongside Christian Rom. DNB ECO Absolute Return was closed down earlier this year due to its small size and a sustained period of underperformance. Rom, who has been part of DNB’s Renewable Energy team in his role as co-portfolio manager since 2010, took over responsibility for managing DNB Renewable Energy starting from August 11.

According to the press release by DNB Asset Management, Christian Rom has “been actively involved in the strategic direction and the management of DNB’s Renewable Energy strategy” since joining the asset manager in 2010. “As part of the portfolio management team for DNB’s Renewable Energy strategy for more than ten years, Christian Rom has the required in-depth knowledge and understanding to further manage and develop the fund,” continues the press release. “He has a strong track record in alpha generation and has gradually managed an increasing share of the portfolio over the years.”

DNB Asset Management states that “the Renewable Energy team is set to be further strengthened” following the departure of Sigurdsen, who originally joined the Norwegian asset manager in 2005. “While the Renewable Energy team is set to be further strengthened, the investment philosophy and all processes of the Renewable Energy strategy will remain unchanged,” writes the press release. “In addition, the intensive cooperation with the five-member ESG team will be successively expanded.”