Hedge Funds

Sweden’s law change could spell a windfall for Folksam’s new Multi Fund


Nordic insurer teams up with local FoHF to launch a UCITS product for the retail market

By Claire Makin

André Havas
Göran Emtesjö
When Swedish insurer Folksam decided to offer a hedge fund option to pension savers, senior adviser Göran Emtesjö flew to London to talk to some global fund providers. To his surprise, none of them was interested in teaming up with Folksam to offer the product.

So what were the sticking points? Unsurprisingly, fees and a lack of upfront capital commitments, it turns out – but also a resistance to UCITS. “They said, ‘UCITS III is not a real product; we’ve been running hedge funds for