Rhenman & Partners Asset Management is to launch a global equity long-short fund on 31 August, named Rhenman Global Opportunities L/S.
The fund can invest in all sectors worldwide and will be managed by Staffan Knafve.
Rhenman Global Opportunities L/S will make its investments based on active selection of regions and sectors, completely independent of index.
The fund will take 35 to 50 positions, preferably in larger companies. The investment horizon for long positions will typically be two to four years, while the time horizon for short positions will typically be six months up to two years. The fund will be long-biased and have a positive outlook over the business cycle, with a typical net exposure of 50 to 90 per cent.
"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’, starting an active global L/S equity fund, with the objective of providing 7 to 8 per cent average annual net return,” says Knafve.
Knafveo was previously responsible for Carnegie's global fund-of-funds, and worked as head of equities at both Nordea Investment Management and Swedbank Robur.
