Rhenman & Partners Asset Management, a Stockholm-based investment manager, is set to roll out a new global equity long/short fund on 31 August 2016 that will invest in all sectors across the globe.
The new vehicle, dubbed Rhenman Global Opportunities L/S, will invest based on selection of regions and sectors, independent of index considerations. The fund will take 35-50 positions, mainly in larger companies.
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The time horizon for short positions will be 6 months to 2 years, while time horizon for long positions will be 2 to 4 years.
The fund will be managed by Staffan Knafve, and will typically have net equity exposure of 50-90%.
"In recent years, the focus has been on passive index-linked management and technically oriented products, while at the same time it is difficult to get a decent return on fixed income investments. It is against this background that we have decided to go "back to basics", i.e. starting an active global L/S equity fund, with the objective of providing 7-8% average annual net return", Knafve said.
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