- Advertisement -
- Advertisement -

QQM Equity Hedge to Wind Down After Manager Exits

- Advertisement -

Stockholm (HedgeNordic) – Following the departures of both Ola Björkmo and Jonas Sandefeldt from QQM Fund Management to join Meriti Capital earlier this year, QQM’s board has made the decision to close down the systematic market-neutral equity fund, QQM Equity Hedge. Initially, QQM had set out to find a replacement portfolio manager, but subsequently opted to wind down the fund.

Since 2022, QQM Fund Management has operated as a subsidiary of Nowonomics, a Swedish fintech company offering a digital savings platform. QQM continues to manage the Nowo Global Fund, serving about 46,600 investors, and is actively considering the introduction of additional fund products in line with the needs of its client base, according to QQM’s CEO, Rutger Selin. With Nowonomics and its savings platform primarily oriented towards retail investors, one contributing factor to the decision to close down the monthly-traded alternative investment fund QQM Equity Hedge is its focus on institutional investors.

After the departures of Ola Björkmo and Jonas Sandefeldt to Meriti Capital, QQM Equity Hedge found itself without a portfolio management team. The two have been partners for the past 17, most recently as co-owners and co-portfolio managers at QQM Fund Management. Together, they managed QQM Equity Hedge since July 2010, employing a systematic market-neutral strategy to capture fundamental momentum in listed European companies.

Nowonomics initially agreed to acquire a 72 percent stake in QQM Fund Management in mid-2021. In March 2023, Nowonomics bought out the remaining 28 percent equity stake from Björkmo, who subsequently stepped down from his position as CEO and portfolio manager at the Stockholm-based asset manager to join Meriti Capital as CEO and Chief Investment Officer.

Sandefeldt temporarily managed QQM Equity Hedge on his own for a few months following Björkmo’s departure. He, too, left QQM to join Björkmo at Meriti Capital on September 4, where he took on the role of Head of Systematic Fund Management. This move left QQM Equity Hedge without a dedicated manager and resulted in a capital outflow from the fund due to Sandefeldt’s departure.

The duo has been actively involved in the launch of several new funds under the umbrella of Meriti Capital, including a market-neutral equity fund. “Jonas and I, together with our new colleagues Gustav Andåker and Hans Turitz, will develop and manage fund products with unique risk and return characteristics,” said Björkmo in connection with the appointment of Sandefeldt as Head of Systematic Fund Management at Meriti Capital back in September.

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

Estlander Awaiting the Black Swan

Stockholm (HedgeNordic) – Finnish systematic asset manager Estlander & Partners has been in the business of providing so-called “crisis alpha” for decades through one...

Niche Opportunities in Private Credit Amid Record Dry Powder Levels

Stockholm (HedgeNordic) – The evolution of private credit as an asset class has been remarkable, attracting increasing allocations from investors. Assets under management by...

Tidan Readies Systematic Macro Launch with Linus Nilsson

Stockholm (HedgeNordic) – Stockholm-based fund boutique Tidan Capital is broadening its suite of strategies with the upcoming launch of its systematic macro initiative in...

Chelonia to Embrace Long-Biased Strategy

Stockholm (HedgeNordic) – Despite securing a spot among the top 15 best-performing Nordic hedge funds this year as a market-neutral fund, Chelonia Market Neutral...

Nykredit Hedge Funds Battle to Reverse Downtrend in Assets

Stockholm (HedgeNordic) – Despite showing improved performance, the fixed-income hedge fund trio at Nykredit Asset Management is struggling to reverse a downward trend in...

“Boring” Short Sellers Partner with Sector for Fund Launch

Stockholm (HedgeNordic) – Renowned short seller Andrew Left has been quoted as saying that short sellers are becoming “a dying breed.” Despite the departure...

Allocator Interviews

Latest Articles

In-Depth: High Yield

Voices

Request for Proposal

- Advertisement -