- Advertisement -

Related

Graal Will Soon be Gone Too

- Advertisement -

Stockholm (HedgeNordic) – Several days after announcing that two hedge funds from the Graal family will be merged into Aktie-Ansvar Räntestrategi, Aktie-Ansvar has announced that Graal will be merged into the same fixed-income fund. Graal, once Sweden’s largest hedge fund with about SEK 12 billion under management, will merge into the newly-launched Aktie-Ansvar Räntestrategi at the end of October.

“Graal currently has a significant focus on fixed-income management and follows essentially the same investment strategy as Aktie-Ansvar Räntestrategi,” writes a letter accompanying the merger announcement. “Aktie-Ansvar has found it logical that Graal should be merged by way of absorption into Aktie-Ansvar Räntestrategi,” the letter continues. Similar to the recently-announced mergers of Graal Aktiehedge and Graal Offensiv, the letter adds that “the background to this decision is that major investors have announced significant withdrawals from the fund and that the size of the fund does not justify the fund’s management costs.” Graal had €32.4 million in assets under management at the end of June.

Both Graal and Aktie-Ansvar Räntestrategi are managed by Maria Ljungqvist, who co-managed Aktie-Ansvar’s Graal fund family alongside Philip Wendt for four years before taking sole responsibility for managing the three-fund suite in mid-April this year. Ljungqvist has been responsible for managing the fixed-income portfolios of the Graal funds since joining Aktie-Ansvar in early 2016. Aktie-Ansvar Räntestrategi, which was launched in mid-June this year, can adapt its investment strategy to prevailing market conditions and has the opportunity to invest in fixed-income securities with both high and low credit risk, as well as long or short maturities across the Nordic region and globally.

Since Maria Ljungqvist and Philip Wendt joined Aktie-Ansvar in 2016, Graal Hedgefond has, on average, maintained a net exposure to equities of 20 percent, with the remaining capital being allocated to an actively-managed fixed-income portfolio. Carl Bergenstråhle of Aktie-Ansvar told HedgeNordic in April that “during February, we decided to reduce the equity exposure to zero given the poor risk-reward.” Graal generated an annualized return of about three percent since launching during the summer of 2002.

 

Photo by Evan Wise on Unsplash

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

Historic Small-Cap Discount Offers Long-Term Opportunity, Not a Timing Signal

Small caps are trading at a historically wide valuation discount to large caps, creating a potentially attractive long-term opportunity even as the valuation gap...

Europe’s Sovereignty Push Could Benefit Small & Mid-Caps

European small and mid-cap equities are entering a potentially more constructive phase as Europe’s push for economic and strategic sovereignty coincides with improving domestic...

Taiga’s Long/Short Playbook for Nordic Small Caps

A first-time investor looking at the roughly 6 percent cumulative return from Nordic equities over the past two years could be forgiven for looking...

AI Has Changed the Small-Cap Equation

The AI-driven rally in mega-cap stocks has widened the performance gap between large and small caps, leaving smaller companies trailing across global equity markets....

Simplicity Completes Norron Deal

Three months after announcing the deal, Swedish asset manager Simplicity has completed its acquisition of Norron’s fund management business, taking over the management of...

Rethinking the 60/40 Portfolio

The 60/40 portfolio remains one of investing’s most recognizable conventions, even where few institutional portfolios literally consist of 60 percent equities and 40 percent...

Allocator Interviews

- Advertisement -

Voices

Request for Proposal

- Advertisement -