Monyx Financial Group och Solidar have agreed to jointly establish a new fund company called AlphaCore Fonder, which will focus on alpha management and development of new asset management products.
The companies cite strong demand for pure alpha products in the market, particularly among institutions and foundations, which will constitute the initial core client group.
AlphaCore will be an independent standalone asset manager, with Mikael Kadri from Monyx as chief executive. Kadri has been CIO and deputy chief executive at Monyx, but has also previous experience at Carnegie Asset Management, Brummer & Partners and Skandia.
Fund managers Daniel Dinef and Martin Edemalm will also move to AlphaCore to support the launch of the new company. Dinef came to Monyx in early 2015 from his previous role as senior portfolio manager at Ålandsbanken. He has also worked at Swedbank Robur. Edemalm has been working as an assistant portfolio manager at Monyx since 2015.
AlphaCore will be jointly owned by NewCap Holdings – the Danish financial company listed on Nasdaq OMX in Copenhagen, and owner of Monyx – Solidar, and some of the new staff at AlphaCore. As an asset manager, Monyx has some SEK30bn (€3.2bn) under management, via management of funds, pensions and unit-linked investments.
Solidar manages some SEK25bn (€2.7bn) on behalf of some 100,000 customers.