Danske Invest streamlines Lux Sicav range with quadruple merger

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Danske Invest will proceed to four equity fund mergers on 21 September 2018, InvestmentEurope can reveal.

The company will merge the Danske Invest Sicav – Nordic fund – run by Rami Hakola and with €23.7m AUM as of end July 2018 – and the Danske Invest Sicav – Europe Focus fund – run by Kasper Brix-Andersen and tallying €30.5m AUM as at 31 July 2018 – into the €73.1m Danske Invest Sicav-Europe fund managed by Kasper Brix-Andersen.

The Danske Invest Sicav – Trans-Balkan fund, managed by Sandra Jankovic and counting €5.1m in assets at the end of July, will be absorbed by the €21m Danske Invest Sicav – Eastern Europe ex. Russia fund, overseen by Morten Lund Ligaard.

Lastly the Danske Invest Sicav – Sweden fund, which had SEK204.6m (€19.38m) in assets as of 31 July 2018 will merge with the Danske Invest Sicav – Sverige fund whose assets amounted SEK4.45bn (€421.7m) at the end of last month. Mattias Cullin, head of Swedish equities, oversees both strategies.

Danske Invest said the mergers’ purpose was to align and rationalise the fund offering of Danske Invest Sicav and optimise the Luxembourg product range of Danske Group. It considered the merging funds have not sufficient investor demand and size to continue to operate in an economically efficient manner.