DNB Launches Norway Absolute Return Fund

Mar 8 2012 | 8:25am ET

Luxembourg-based DNB Asset Management has launched a UCITS-compliant market neutral long/short fund that invests in the Norwegian stock market.

The DNB Norway Absolute Return fund—open ended and tradable on a daily basis—is managed by industry veteran Eirik Hauge. Hauge heads a team of four analysts, each of whom is highly specialized, covering “a comparatively small number of companies,” he said in a statement. Stocks are picked in accordance with the DNB Group’s guidelines for socially responsible investment.

“This fund was launched on the basis of our decision to make our long-standing expertise in Norwegian shares accessible to international investors,” said Mike Judith, vice president of DNB Asset Management, a subsidiary of Norway’s largest financial services provider, Oslo-based DNB.

DNB Asset Management’s flagship fund, DNB Norge, is a long-only vehicle that invests in companies listed on the Oslo Stock Exchange.

Hauge says there are many reasons to invest in Norway, which is “experiencing none of the problems Europe’s more southern states are dealing with right now.” Norway’s stock market is dominated by shipping, energy and commodities companies—specifically oil, oil services, aluminum and fertilizers.

“What all these companies have in common is that they are heavily dependent, either directly or indirectly, on emerging economies and globalization. We therefore have a strong correlation with these countries and are closely following developments there,” said Hauge.

The new fund is DNB’s third UCITS-compliant absolute return vehicle, two others, the DNB ECO and the DNB TMT, have been trading since October 2010. ECO invests in renewable energies employing a long/short approach and TMT takes the same approach to technology, media and telecommunications.

DNB has a total of 14 000 employees worldwide, 2.3 million personal customers and 200,000 corporate customers


In Depth

High Time For A Cannabis Hedge Fund?

Sep 30 2014 | 7:07am ET

Launching a hedge fund is always a gamble, but Leslie Bocskor's decision to launch...

Lifestyle

Griffin Donates $1M To Rauner's Illinois Gov. Campaign

Sep 22 2014 | 9:29am ET

Hedge fund billionaire Kenneth Griffin definitely has a dog in this fight. The Citadel...

Guest Contributor

Appraisal Ratio Key To Evaluating Hedge Funds And Other New Investments

Sep 29 2014 | 3:07pm ET

As a former finance professor Peter Hecht experiences heartburn every time he hears...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

September 2014 Cover

High frequency market making

High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.