HealthInvest funds merged in Stockholm

HealthInvest Partners has received regulatory approval to merge its HealthInvest Value and Small & MicroCap funds.

The action will see the Value fund absorbed into the Small & MicroCap fund, with the first day of trading in the merged fund set for 12 December. Value fund unit holders will receive class B units in the Small & MicroCap fund. Existing unit holders can redeem units on a daily basis until the date of the merger.

Reasons for the merger include ongoing redemptions hitting the Value fund. It has not beaten its benchmark index since 2013. Assets have declined by some SEK300m (€28.5m). The funds’ board has concluded that there are not enough investors in the fund in order to function “optimally” because management costs are “relatively high”.

The merged fund will have assets estimated at more than SEK1.7bn (€162m), which brings about efficiencies. The Small & MicroCap fund is currently five-star rated by Morningstar.

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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