- Advertisement -
- Advertisement -

Hedgie Joins Riksbank’s QE Effort

- Advertisement -

Stockholm (HedgeNordic) – Sweden’s central bank has hired a former hedge fund manager, Anders Nordborg (pictured left), for a credit trading role as the Riksbank has offered to purchase SEK 10 billion in corporate bonds to mitigate the effects of the coronavirus pandemic on the Swedish economy. Nordborg co-managed credit hedge fund Trude with Marek Ozana under the umbrella of Excalibur Asset Management until the fund’s closure last year.

“The central bank’s presence in the capital market has increased markedly in the last decade, which makes for an exciting workplace,” Anders Nordborg told Bloomberg. “It will be incredibly fun to be part of the Riksbank family,” Nordborg added.

A little more than a month ago, the Riksbank expanded its quantitative-easing measures by increasing its asset purchase programme from SEK 300 billion to SEK 500 billion and extending its duration to the end of June next year. The Riksbank’s boosted asset purchases include corporate bonds for the first time. According to the Riksbank, “this is a new measure and the intention is that the purchases will be initiated in September 2020.” The purchases will entail corporate bonds issued by companies with a credit rating equivalent to Baa3/BBB- or higher, with a remaining time to maturity of up to five years.

The mandate to buy corporate bonds, however, accounts for a small fraction of Riksbank’s SEK 500 billion asset purchase programme, with some questioning whether the plans would have a material impact on mitigating the effects of the coronavirus pandemic on the Swedish economy. “They are expected to be made on the secondary market and from the Riksbank’s monetary policy counterparties,” writes the Riksbank. “By initiating purchases of corporate bonds in this way, the Riksbank can establish a presence on the market for these securities and thereby ensure a good capacity to rapidly extend the scope of the purchases if monetary policy needed to be made more expansionary going forward,” the Riksbank continues.

Anders Nordborg and Marek Ozana joined Excalibur Asset Management in 2015 to launch and manage Trude. Both Nordborg and Ozana joined the Stockholm-based asset manager from SEB, where they had been managing fixed-income and credit funds. Trude was launched in October 2015 with more than SEK 500 million under management and was closed at the end of September last year after a challenging market environment for the fund.

close

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

Most Popular This Week

Request for Proposal

- Advertisement -

Latest Articles

The Spectacular Unspectacular 20th Anniversary

Stockholm (HedgeNordic) – Reaching the 20th anniversary in the often short-lived and fast-paced hedge fund world is quite an achievement. In fact, some activity...

Head of Research Havnen Leaves CARN

Stockholm (HedgeNordic) – Harald Havnen is leaving CARN Capital and his role as Head of Research to join Norway’s largest pension fund advisor Gabler...

Strand to Launch the “Essential”

Stockholm (HedgeNordic) – Former hedge fund manager Eric Strand is launching the fourth fund under his own fund boutique AuAg Fonder after receiving approval...

Back to the Old Home

Stockholm (HedgeNordic) – Carnegie’s previously announced acquisition of Carnegie Fonder has been completed. The acquisition completed under the umbrella of the newly formed Carnegie...

Round Table: ETFs & Asset Management

Stockholm (HedgeNordic) – At a round table discussion that took place in Stockholm on October 17, asset managers and ETF providers discussed and answered...

Nordic Managers Win EuroHedge Nominations

Stockholm (HedgeNordic) – With Intelligence has released the first round of nominations for the EuroHedge Awards 2022, with the list featuring seven Nordic hedge...