Stockholm (HedgeNordic) – Borea Asset Management, a Norwegian boutique specializing in fixed income, has officially welcomed Jon Hille-Walle and Audhild Aabø, two newly recruited equity portfolio managers from Nordea. With their arrival, Borea is preparing the launch of two long-only UCITS funds, a Norwegian Equity Fund and a Nordic Equity Fund.
“We are pleased to welcome Audhild and Jon to Borea Asset Management. They both start as portfolio managers on the equity side at Borea,” announces the team at Bergen-based Borea. “With them on the team, we strengthen our expertise and look forward to being able to offer even more funds and investment opportunities to our customers in the future.” Both managers officially joined Borea at the beginning of October and are currently working on the launch of the two upcoming long-only equity funds.
“We are pleased to welcome Audhild and Jon to Borea Asset Management. They both start as portfolio managers on the equity side at Borea.”
The recruitment of these two portfolio managers follows the majority stake acquisition of Borea by Frendegruppen, a consortium of independent Norwegian banks. Their arrival aligns with Borea’s plans to expand its equity fund offerings, particularly for the retail and corporate clients of the banks in the consortium. “The reason Borea is making this move needs to be seen in the context that the savings bank alliance Frendegruppen has purchased 70 percent of Borea,” explains the newly-hired portfolio manager Jon Hille-Walle. “The banks in the alliance currently have a substantial asset base that to a large degree is managed by external entities today, and the ambition with our new funds is to capture a significant share of these funds,” he elaborates.
“The reason Borea is making this move needs to be seen in the context that the savings bank alliance Frendegruppen has purchased 70 percent of Borea.”
Both Hille-Walle and Aabø join Borea from Nordea Investment Management. Hille-Walle, who spent the past 19 years as a portfolio manager at Nordea, managed a Norwegian long-only equity fund with a focus on oil services and shipping, and co-managed a global equity fund and institutional clients’ tactical asset allocation portfolios. With nearly nine years at Nordea, seven of which as a portfolio manager, Aabø specialized in consumer and seafood companies and served as a portfolio manager of Nordea Global Diversity Engagement Fund.
