SEB gets first Nordic "AA"-rating for Fund of Hedgefunds
(Thomson Reuters ONE) -
Standard & Poor's, the rating agency, has awarded a "AA" rating to SEB's True
Market Neutral fund. It's the first Nordic Fund of Hedge Funds to receive such a
strong rating and it shows that SEB's efforts to provide customers with high
quality savings and investment opportunities is paying off.
"This is a stamp of approval for the fund, which has delivered stable returns
for our customers regardless of the development in the stock market," Mikael
Spångberg, head of the team at SEB that manages the fund, says.
S&P states in its ratings report that SEB "deserves credit for its highly
disciplined application of the process as evidenced by achieving the fund
objective throughout, and during periods in which the overwhelming majority of
Fund of Hedge Funds have fallen short. For example, the fund returned 3 per cent
in 2008, and has continued to provide positive returns every year."
The fund, which is targeting institutional investors, aims to provide an
annualised return of 3-4 percentage points above the risk free rate and to
deviate no more than 5 percentage points from the target and have no correlation
to stock markets.
In addition to issuing the new rating for SEB's True Market Fund, S&P has also
rated the bank's Dynamic Manger Alpha and Asset Selection funds "AA".
For further information, please contact Press contact
Mikael Spångberg, Head of SEB Alternative Ola Kallemur, Group Press Officer SEB
Investment Team +46 763- 975466
+46 70-7639809 ola.kallemur(at)seb.se
mikael.spangberg(at)seb.se
SEB is a leading Nordic financial services group. As a relationship bank, SEB in
Sweden and the Baltic countries offers financial advice and a wide range of
financial services. In Denmark, Finland, Norway and Germany the bank's
operations have a strong focus on corporate and investment banking based on a
full-service offering to corporate and institutional clients. The international
nature of SEB's business is reflected in its presence in some 20 countries
worldwide. On 31 March 2011, the Group's total assets amounted to SEK 2,118
billion while its assets under management totalled SEK 1,372 billion. The Group
has about 17,000 employees. Read more about SEB at www.sebgroup.com.
SEB Venture Capital
SEB Venture Capital unit was founded in 1995 and is part of the SEB Group. With
a capital base of 2.5 billion Swedish kronor it currently has 35 investments in
growth companies in the portfolio and has carried out 45 exits since its
inception.www.seb.se/venturecapital
Press release (PDF):
http://hugin.info/1208/R/1528521/464208.pdf
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Source: SEB via Thomson Reuters ONE
[HUG#1528521]
Unternehmensinformation / Kurzprofil:
Datum: 05.07.2011 - 15:01 Uhr
Sprache: Deutsch
News-ID 56140
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