Media: Carnegie launches new Nordic niche High Yield fund

"A niche yield fund with a focus on the Nordics" is how Carnegie describes the new High Yield Select Fund it is putting out on the market. The new investment offering is set to give a return of around 5 percent, Sweden's Realtid reports.

Maria Andersson and Niklas Edman are the two managers heading up the newly-launched fund from Carnegie – the High Yield Select Fund. According to an interview on Swedish business news site Realtid, the two envision a return of around five percent.

"I understand that people can be sceptical with the current sentiment in the market, however we are convinced that we can create an attractive portfolio with Nordic content," Niklas Edman told Realtid.

The fund was launched on Nov. 2, and by Nov. 22, it was already seeing an inflow of round SEK 100 million (EUR 10,1 million). Once the fund reaches SEK 2 billion, it will close.

Andersson and Edman are aiming to have bonds issued by 40 to 60 companies in High Yield Select's portfolio, and the fund is targeting a fairly wide spread of countries and sectors in the Nordic region.

"We have high-yield bonds in both the Carnegie Strategy Fund and the Carnegie Corporate Bond fund, so this is nothing new. We have a total of 12 billion high yields. Prior to launching this new fund, we have worked a lot with packaging and structure to create a pure high-yield fund. We have worked on it for three years in total. We have been thinking about how it can work in the long run and how to adapt it to what the world looks like in 2017," Edman said.

The idea is that it should be a niche product that is difficult to replicate, Realtid reported.

Frontpage right now

Realdania to double alternatives allocation to between 5 and 10 percent

Grant-making association Realdania has its roots in the history of Danish housing needs -- all the way back to the devastating Copenhagen Fire of 1795. But with his eye firmly fixed on today's financial market challenges, CIO Peter Johansen tells AMWatch the private philanthropic organization is now set for a big boost in its alternative assets.

Ex Catella manager behind Nordic small cap hedge fund launch

In 2016, six investment professionals -- with more than a century and a half of collective experience in the financial markets behind them -- decided to set up a new Nordic asset manager specializing in hedge funds. The Stockholm-based newcomer has just launched its third hedge fund.

Pensiondanmark: Our alternatives create robustness against future turmoil

Over the years, Pensiondanmark has built up a large portfolio of alternatives, which in 2017 yielded a return that compares with equities. Investments in infrastructure, property and non-listed assets will help protect the savings of more than 700,000 members against future equity unrest and interest rate hikes.

Germany faces major pension system challenges, says OECD

Spiralling costs for government pensions, a large sector of the population with scant pension savings, particularly poor pensions among women -- and a group with no pension coverage at all. The latest OECD pension report lays bare the fact that Germany has a steep hill to climb, with pensions in need of far-reaching reforms.

Related articles

amwatch trialbanner.jpg

Latest news


See all

See all

Latest news from FinansWatch (dk)

Latest news from EnergyWatch

Latest news from ShippingWatch