Sweden is home to one of the largest absolute return UCITS launches so far this year.
Stockholm-based Norron Asset Management launched three funds on 1 February 2011 with a combined $100 million assets under management. They have already grown to $200 million – with a further $30 million mandate expected in the next couple of weeks.
The Luxembourg-domiciled Norron SICAV is an umbrella fund with three sub funds: a multi strategy fund called Norron Target, an equity long/short fund called Norron Select and Norron Preserved, a fixed income fund. All the funds are currently focused on companies based in the Nordic region.
Ulf Frykhammar: chief executive of Norron Asset Management
Individual funds that recently launched with $100 million include: Millburn Ridgefield Corporation, launched in June 2011, and Paulson & Co’s first UCITS fund which...