Catella makes further manager changes

Jonathan Boyd
clock • 1 min read

Catella, the Swedish manager that last week confirmed departures from its hedge funds team, has announced further changes to the management of its Catella Reavinstfond and Catella Småbolagsfond funds.

Mikael Hanell, current manager of the two funds, is handing over to two ‘teams’ of managers who henceforth will make portfolio decisions.

Effective 11 July, Henrik Gripenvik and Henrik Holmer take over management of the Catella Reavinstfond fund.They will be joined by “an additional senior manager” by 1 September.

Meanwhile, Martin Nilsson and Henrik Holmer will take over management of the Catella Småbolagsfond fund – a smaller companies fund.

Erik Kjellgren, head of Catella’s Swedish fund operations, said the changes reflected a shift towards more team-based management of funds.

“We are moving towards more team-oriented management of these funds, just as we have already done with the Catella Hedge and Catella Nordic Long Short funds. In addition, we will strengthen the management team with expertise in sustainability. This evolution of our management and our team will help to create additional customer value and ensure the continued high level of our management going forward.”

“The purpose of this change is also to create a clearer management philosophy and process. Catella will further enhance its position in active management while improving our processes in sustainable management, two areas that are central to creating customer value now and in the future,” says Erik Kjellgren.

The Catella Småbolagsfond fund is three-star rated by Morningstar Sweden, and has returned -4.9% in SEK terms over the past 12 months. The Reavinstfond fund is two-star rated, returning -6% in SEK over the period.

Last week, Catella confirmed reports in local media that a number of staff were leaving to join an asset management business set up by investment bank Carnegie: