- Advertisement -
- Advertisement -

Related

Sticking to the Core

Latest Report

- Advertisement -

Stockholm (HedgeNordic) – Stockholm-based asset manager Rhenman & Partners, best known for its healthcare-focused fund Rhenman Healthcare Equity L/S, has put its second vehicle, Rhenman Global Opportunities L/S, into liquidation. The fund managed by Staffan Knafve has struggled to step out of the shadows of its multiple-award-winning sister fund since launching in September of 2016.

“Rhenman Global Opportunities L/S is put in liquidation and capital is returned to investors,” according to an announcement by Rhenman & Partners. “The decision to liquidate the sub-fund Rhenman Global Opportunities L/S is primarily because the value of the sub-fund’s total net assets is deemed to be the minimum level for the sub-fund to be operated in an economically efficient manner,” writes a notice to the unitholders of Rhenman Global Opportunities L/S. The fund had SEK 64 million or a little over €6 million under management at the end of October. “In addition, the preconditions for raising capital to the sub-fund are not deemed to be in place,” according to the notice to unitholders.

“Rhenman Global Opportunities L/S is put in liquidation and capital is returned to investors.”

After booking a 25.2 percent-return for 2019, Rhenman Global Opportunities L/S fell by 23 percent year-to-date through the end of October. The retail share class of the high-conviction global long/short equity fund accumulated a cumulative loss of about 20 percent since launching in 2018 through October of this year. Rhenman Global Opportunities L/S relied on a strategy combining a fundamental top-down approach with thorough bottom-up analysis to build a relatively concentrated portfolio of 40 positions. The fund used to maintain a long-bias with a net market exposure in the range of 50 percent to 90 percent.

“A final NAV-calculation for Rhenman Global Opportunities L/S will take place on December 4,” writes the notice to unitholders. “Liquidation proceeds will be transferred to each relevant unitholder on December 7,” the notice adds. “With this note we want to thank all investors who have been invested in Rhenman Global Opportunities L/S.”

“With this note we want to thank all investors who have been invested in Rhenman Global Opportunities L/S.”

Following this fund liquidation, Rhenman & Partners continues to run the strong-performing healthcare-focused, long-biased long/short equity fund, Rhenman Healthcare Equity L/S. The fund managed by Susanna Urdmark and Henrik Rhenman has generated an annualized return of almost 19 percent since launching in mid-2009 through the end of October this year.

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

Othania’s All-In-One Fund Celebrates Five Years

Danish fund boutique Othania is celebrating the five-year anniversary of Othania Balanceret Makro, its all-in-one fund blending equity, bond, and alternatives exposure through Exchange...

Atlant Fonder Crosses SEK 10 Billion Milestone

Strong performance and steady inflows have propelled alternative fund boutique Atlant Fonder past the SEK 10 billion milestone in assets under management. Its flagship...

Nordea PM Joins Lancelot Global as Co-Manager

Lancelot Global, a long-only equity fund with flexible net exposure ranging from 60 to 120 percent, has strengthened its portfolio management team with the...

Quirky Questions – or, A Peoples Business

If asset management were only about numbers, we could all go home and let the calculators get on with it. But calculators are dull...

Navigating CLOs Through ETFs: Opportunities in AAA-Rated Tranches

By UBS Asset Management: Collateralized Loan Obligations (CLOs) have long been a cornerstone of the U.S. securitized products market, evolving from a niche institutional investment...

From Core to Alternatives: The ETF-Driven Approach of a Finnish Wealth Manager

Wealth managers are tasked with designing investment portfolios that align with clients’ needs, objectives, risk tolerance, preferences, and financial circumstances. While high-net-worth clients often...

Allocator Interviews

In-Depth: High Yield

Voices

Request for Proposal

- Advertisement -
HedgeNordic
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.