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Danske HF Nearing Maximum Capacity

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Stockholm (HedgeNordic) – Danske Invest Fixed Income Global Value will soon be closed for new investments after nearly reaching its maximum capacity due to robust performance and strong investor inflows since its inception in early June 2018. Part of Danske Bank Asset Management’s suite of fixed-income hedge funds, the fund currently oversees more than €900 million in assets under management after starting out with about €54 million.

“Since its launch on June 8th, 2018, the Fund has attracted substantial subscriptions and it has now nearly reached its capacity,” writes a notice to investors. “The board of directors of the SICAV has decided to close the Fund to new subscriptions and conversions in, except for W shares, for existing and new investors, as the Fund has nearly reached its maximum capacity,” the notice adds. “The decision has been made in the best interests of existing shareholders in the Fund, in order to allow the investment manager to continue managing the Fund effectively.”

“Since its launch on June 8th, 2018, the Fund has attracted substantial subscriptions and it has now nearly reached its capacity.”

Danske Invest Fixed Income Global Value, which has a more global focus compared to the other two fixed-income hedge funds under the umbrella of Danske Bank Asset Management, has generated an annualized return of 9.1 percent since inception. The fund managed by Anders Møller Lumholtz is up 4.5 percent in the first ten months of this year. Danske Bank’s range of fixed-income hedge funds currently has €2.54 billion under management.

“The decision has been made in the best interests of existing shareholders in the Fund, in order to allow the investment manager to continue managing the Fund effectively.”

“Danske Bank Asset Management’s team of hedge fund managers was a major contributor to our fund getting off to such a good start,” portfolio manager Anders Møller Lumholtz said in June this year, when Danske Invest Fixed Income Global Value celebrated its three-year anniversary. “When we launched Danske Invest SICAV – SIF Fixed Income Global Value three years ago, the head of hedge funds, Michael Petry, ensured that we were integrated with the existing team of hedge fund managers,” he continued. “Thus, we could draw on their experience and vast knowledge. At the same time, we have benefited from having access to some of the industry’s strongest risk analysts, led by Per Søgaard.”

Danske Invest Fixed Income Global Value will be closed for new investments, except for its W shares, which “are solely available to regulated Danske Bank Group entities (i) qualifying as institutional investors and subscribing on behalf of certain of their clients in the context of a discretionary management agreement entered into with those clients or (ii) subscribing on behalf of certain Institutional Investors in the context of an agreement entered into with those clients that explicitly permits investments in these Shares.”

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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

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