Renman & Partners To Launch New Global L/S Equities Fund

Aug 19 2016 | 8:46pm ET

Rhenman & Partners Asset Management will launch is new Global Opportunities Long/Short fund on August 31.

The fund will carry an active long/short equity mandate and aim to generate 7-8% annual net returns, according to the company. The long-biased fund will invest in all sectors worldwide based on selection of regions and sectors, independent of index considerations, and carry 35-50 positions in primarily larger companies. 

Investment horizon for long positions will typically be 2-4 years, the company said, while the 6 to 2 years for short positions. It will typically have net equity exposure of 50-90%. 

Fund manager ono the new vehicle will be Staffan Knafve, who has almost 30 years experience as an analyst and manager, according to a statement. 

"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,” said Knafve in the statement. “It is against this background that we have decided to go ‘back to basics’, i.e. start an active global L/S equity fund with the objective of providing 7-8% average annual net return."

Before joining Rhenman & Partners, Knafve was responsible for Carnegie's global fund-of-funds, and worked as head of equities at both Nordea Investment Management and Swedbank Robur. 

Founded in 2008 and based in Stockholm, Rhenman & Partners Asset Management also manages the Rhenman Healthcare Equity L/S fund, which closed to new investors at the end of 2015. Assets under management at year-end 2015 amounted to almost $600 million. The company’s website reports an average annual return of +21% in the healthcare fund since inception in 2009.

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