Catella Head Departs
Stockholm (HedgeNordic) – Catella Fonder has recently announced the decision to shut down its long/short equity fund, Catella Nordic Long/Short Equity, ten years after its launch in December 2010. In a separate announcement, Catella also announced that Thomas Elofsson (pictured), Head of Portfolio Management, is leaving his role during the month of February.
“We would like to thank Thomas for his contributions over the years he has worked with us,” Catella Fonder wrote in a press release last week. Elofsson joined Catella in September of 2016 from Skandia, where he was head of Investment Strategy within Skandia Investment Management (SIM), deputy CEO and a member of the SIM senior management team. He had worked at Skandia Liv, Länsförsäkringar VN, Västernorrlandsfonden, Erik Penser, Danske Bank, Handelsbanken, and SEB Fonder. Following Elofsson’s departure from Catella, portfolio manager Anders Wennberg is set to take over the mandates where Elofsson had portfolio management responsibilities.
“We would like to thank Thomas for his contributions over the years he has worked with us.”
Earlier this month, Catella Fonder announced the liquidation of its long/short equity fund following free consecutive years of losses. “The reason for the decision is based on the fact that assets under management have become far too low to conduct cost-effective management in the long term, as a result of unsatisfactory value development,” Catella Fonder said in a press release. Catella Nordic Long/Short Equity will be put into liquidation as of February 26.
Catella Fonder also announced the launch of two Luxembourg-domiciled property funds, one index fund and an actively-managed fund. The property index fund is a rules-based, passive vehicle tracking the Nasdaq Catella Sweden Property Index, an index co-developed by Catella and Nasdaq that focuses on the largest listed property management companies in Sweden. The actively-managed property fund, called Catella Systematic Property Fund Active, employs a systematic approach in an attempt to outperform its Nasdaq Catella Sweden Property Index.