Scandinavian funds of hedge funds (FoHFs) have historically
been junior partners to the far more numerous single-manager
funds that account for the bulk of the regional hedge fund
industry. Estimates by some analysts suggest that the (FoHFs)
sector probably still only accounts for around 17% of total
hedge fund assets in Scandinavia. Nevertheless, a number of
sophisticated players have emerged over the past few years who
are pushing this area of the industry forward. Stockholm-based
Optimized Portfolio Management (OPM) was founded in 2003 by its
chief executive, Simon Reinius, and his three partners.
Reinius, who also doubles up as chief investment officer, had
previously worked as head of investor equity trading at
Investor AB, the Wallenberg family holding company, where he
had been deeply involved in creating mathematical valuation
models. The first FoHF, OPM Alfa, was launched in July...