Lannebo owners share SEK79m on 2011 results
Swedish boutique Lannebo Fonder had a much more challenging 2011 than 2010, but founder and board chairman Anders Lannebo has still given his blessing to a payout to shareholders in the business.
The fund company doubled its assets in 2010, but faced headwinds in 2011, reports local newspaper Dagens Industri. Lannebo’s annual results show that the company did not achieve its own targets for the year, with a statement in the results suggesting this was the result of excessive exposure to stocks sensitive to macroeconomic trends.
All funds reported negative returns over the year, apart from Lannebo Likviditetsfond, which invests in bonds and money market instruments. Net inflows hit SEK1.19bn (€138m), down from SEK7bn (€816m) in 2010.
The trend in investor flows mirrored developments in the market, the company stated in its results, with net redemptions from equity funds, and net inflows into products such as the Likviditetsfond.
Parent company Lannebo & Partners still decided to pay out SEK79m (€9.2m) to shareholders, Dagens Industri reports. Anders Lannebo owns 10%, other founders and staff own 80%, and external investors own 10%.