Since Brummer & Partners launched Scandinavias
first hedge fund vehicle, the Zenit fund, in 1996,
Scandinavians hedge fund industry has made remarkable
progress over the past 11 years. Assets continue to climb
rapidly, more than doubling from $9.8 billion at the end of
March 2005 to around $20.4 billion at the end of March 2007,
managed by over 110 funds throughout the region.
This robust growth has been fuelled by a constant flow of
new managers, who set a record for start-ups in 2006, along
with a growing acceptance of the necessity for alternative
investments on the part of both Scandinavian retail and
institutional investors. The emergence of niche funds, that are
capitalising on specific sectoral strengths in the individual
Scandinavian markets, such as the energy and maritime
industries in Norway, has also boosted the attractiveness of
local managers. And not to be outdone by...