AMWatch

Catella waves goodbye to portfolio management lead and winds down troubled hedge fund

Head of Portfolio Management is leaving Sweden's Catella Fondförvaltning as the Swedish fund company closes its long/short fund that had gone through some turbulent years.

Photo: PR / Catella.com

Catella Fondförvaltning recently decided to close its Nordic Long Short Equity Fund as a consequence of some troubled years for the hedge fund in terms of double-digit negative returns and outflows.

Despite an effort to revamp the strategy in 2019 as previously covered by AMWatch, the Swedish firm now saw no other option than to liquidate the fund, which has delivered a negative return of -15.79 percent in the past 12 months. The three year performance looks no better for the Nordic fund.

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