SEB Enskilda, one of Northern Europe’s leading financial groups and the largest broker on the Stockholm and Oslo stock exchanges, announced this week that SAM Capital Partners w
SEB Enskilda, one of Northern Europe’s leading financial groups and the largest broker on the Stockholm and Oslo stock exchanges, announced this week that SAM Capital Partners would be launching a UCITS-III fund on SEB Prime Solutions. The fund will look to replicate SAM Capital’s offshore European large-cap equity fund – the SAM Capital Equity Opportunity Fund – which it first launched back in September 2007. SEB Prime Solutions is the umbrella SICAV recently rolled out by SEB this September, offering a one-stop shop for fund managers like SAM Capital to onboard their UCITS strategies onto a dedicated alternative investment platform. The platform offers a full range of services from legal structure and risk management through to administration. By deciding to launch the Ucits fund, SAM Capital will attempt to replicate their offshore strategy, which uses equities and equity index futures to profit from short-term market trends. Only the most liquid large-cap stocks will be targeted.
SEB Enskilda’s Head of Prime Brokerage London, Magnus Ward, told Hedgeweek that the bank had three separate Lux-domiciled SICAVs for separate managers, in addition to Prime Solutions “for which we currently have four managers, including SAM Capital, being approved by the regulators”. When asked about SAM Capital choosing Prime Solutions, Ward said: “I think they choose us for a couple of reasons; one, because we can offer the one-stop shop solution; two, because we had a previous relationship with them going back to the start of this year.”SAM Capital’s COO, Andrew Kennedy (pictured), told Hedgeweek: “SEB were very supportive and competitive in terms of fees, timing and the fact they’re a strong European counterpart,” adding that the fund had received the “full approval and visa stamp from the CSSF this morning”.
