Länsförsäkringar bucks trend and makes opportunistic investment in new hedge fund
Tue Feb 2, 2010
Swedish life fund may consider hedge funds for non-life portfolios, but costs are a concern
Swedish life fund may consider hedge funds for non-life
portfolios, but costs are a concern
By Pirkko Juntunen
investment company managing the life assets for its owners -
comprising 24 regional insurers in Sweden - has gained a
reputation for not following the crowd over the years.
Instrumental in its sometimes contrarian view on investments
has been Gustav Karner, the company's chief financial officer
and charismatic and vocal head of asset management.
Länsförsäkringar's life portfolio totals
$14.2 billion, and non-life assets another $2.8 billion. During
the spring of 2009 - just as the rest of the world was thinking
hedge funds were dead - Länsförsärkringar
returned to hedge fund investing after a four-year break. It
left the market during what many see as the peak, having exited
because of high costs and low expectations of return. The
decision to start investing in hedge funds...
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