Catella updates hedge fund fees

Swedish hedge fund provider Catella has announced the implemenation of a perpetual high water mark on its Hedgefond fund, subject to regulatory approval.

The fund has delivered an average annual return of 5.6% against average standard deviation of 2.6% since inception in 2004, the fund manager said. Local fund supermarket platform Fondmarknaden named it Hedge Fund of the Year in both 2014 and 2015.

At launch the manager applied an annually reset high water mark – which it said was not unique – but as the market has moved toward a perpetual high water mark it has decided to adjust its fee structure.

Erik Kjellgren, head of the Swedish fund management operations, said that the change was awaiting approval from the Swedish Financial Supervisory Authority (Finansinspektionen) before being implemented.

“We believe in our fund management model and we naturally care about full transparency, including in our fee structure,”  Kjellgren said.

Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 17 years he has been based in London writing about funds and investments. From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope. Jonathan was awarded Editor of the Year at the Professional Publishers Association (PPA) Independent Publisher Awards 2017. Shortlisted for the same in 2016, he was also shortlisted in 2017 and 2015 for the broader PPA Awards category Editor of the Year (Business Media).

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