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Nektar announces closure of Sweden's pioneering hedge fund

Following particularly difficult preceding years and the withdraw of its main investor, Brummer & Partners, Nektar Asset Management has decided to close Nektar, the oldest hedge fund in Sweden. 

Photo: Colourbox

Sweden's Nektar Asset Management has decided to liquidate its Nektar hedge fund. The firm announced its decision last Friday after its biggest investor Brummer & Partners said it planned to withdraw its engagement after a disappointing performance in recent years.

Brummer said it would take back the money, which accounts for two-thirds of Nektar’s total assets of around SEK 10bn by the end of May.

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