- Advertisement -
- Advertisement -

Related

Celina Fined for Conflict of Interest Breaches

Latest Report

- Advertisement -

Stockholm (HedgeNordic) – Fund manager Celina Fondförvaltning has been issued a warning with an administrative fine of SEK 10 million by the Swedish Financial Supervisory Authority, Finansinspektionen, for major deficiencies in managing conflicts of interest. This decision does not affect Case Group’s acquisition of Celina’s fund operations.

Finansinspektionen has investigated how Celina, as part of its fund operations, managed conflicts of interest in a number of transactions linked to undertakings in Athanase Group’s constellation of firms. For example, Celina made a number of investments linked to other undertakings in the Athanase Group at the same time as two of the ultimate owners in the Athanase Group held active roles in Celina as the chair of the board of directors and manager of the relevant funds. “The investigation shows that there have been major deficiencies in Celina’s management of conflicts of interest,” announces Finansinspektionen.

“Celina has not done enough to prioritise the interests of unit holders,” says Susanna Grufman, Finansinspektionen’s Deputy Director General. “We consider this to be a serious matter. There is a risk that this could harm confidence in the fund market.” Following the completion of the investigation, Celina has been issued a warning with an administrative fine of SEK 10 million.

“Even if we do not share the conclusions in all parts, we think it is good that the authority has reached the end of its investigative work,” comments Björn Hårderup, the CEO of Celina Fonder. “We do not want to draw any hasty conclusions from the decision itself, but now we must read and reflect on it before we decide on the way forward.”

Swedish fund manager Case Group has recently completed the acquisition of Celina Fonder’s fund operations from Athanase Group. The Swedish Financial Supervisory Authority approved the sale and transfer of Celina’s remaining alternative investment funds, including hedge funds Celina Credit Opportunity and Celina Hedgefond, to Case on October 28.

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

Fresh Talent, New Funds: ALCUR Expands Reach in Retail Segment

After a wave of portfolio manager hires earlier this year, stock-picking fund boutique ALCUR Fonder is preparing to launch several new funds aimed at...

Quirky Questions for Kathryn Kaminski (AlphaSimplex)

Not every hedge fund conversation needs to revolve around performance charts or trade execution. In HedgeNordic’s Quirky Questions series, we look beyond the strategies to the...

Active Decisions in Passive Wrappers: Othania on ETF Innovation

Founded in early 2016 by brothers Vincent Dilling-Larsen and Christian Mørup-Larsen, Danish fund boutique Othania built its foundation on a proprietary risk model, “Tiger,”...

Rettig Appoints Crescit Manager to Oversee Hedge Fund Strategies

Simon Borgefors has joined Finnish family-owned investment company Rettig as Investment Director for hedge fund strategies in Stockholm, leaving Swedish hedge fund boutique Crescit...

€5m Ticket to Nordic High Yield From German Family Office

A German family office plans an initial €5 million commitment to a UCITS‑compliant Nordic high‑yield fund, with capacity to scale over time. According to...

From Beef to Bitcoin: August’s Wild CTA Ride

In August 2025, the CTA sub-index of the Nordic Hedge Index edged lower after two positive months, reflecting mixed performance among managers. Strong gains...

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.