Swedish boutique Norron Asset Management’s Sicav sub-funds Preserve, Active and Alpha have received authorisation from French financial markets authority AMF.
Norron, which has offices in Stockholm and Oslo, offers six strategies primarily focused on Nordic capital markets. The boutique was founded by partners, who own the business alongside Aker, the listed Norwegian industrial company, which owns 48% of the business. It currently claims some SEK16bn (€1.5bn) of assets under management, mainly accrued via Nordic savings platforms including pension investments. Aker also owns Converto Capital och Oslo Asset Management, which together have some NOK8bn (€839m) in AUM.
The background to Norron’s founding is a troika of ex-Catella staff who previously worked on the Catella Hedgefond: Ulf Frykhammar, Nicklas Granath and Gustaf Sjögren, who founded the business in 2010.
Frykhammar worked in other roles at Catella and at Handelsbanken Fonder before that. Granath’s experience includes Stramur Burdara Bank and Handelsbanken. Sjögren was a co-founder of Catella Fonder back in 1998.
By strategy, the Preserve fund offers exposure to fixed income instruments, including government, agency, state and municipal instruments, as well as from banks, corporations or companies that are domiciled in or chiefly active in the Nordic markets. The strategy can invest using derivatives such as futures, options, swaps and credit default swaps.
The Active strategy seeks to outperform the SBX Index on a relative basis. It is a long only equity fund, with a minimum of 90% of net assets in equities and equity related instruments, with a primary focus on the Swedish equity market, but able to invest across the Nordic region.
The Alpha strategy offers a market neutral approach that orginated out of the Active strategy. However, the Alpha fund will seek positive returns in any market conditions, with market risk tackled by shorting the SBX Index. The long only part of the strategy invests in the same way as the Norron Active.
The manager’s Premium, Select and Target strategies respectively look to fixed income and BB rated debt, a balance of fixed income, equity and derivatives for those seeking a higher risk portfolios, and a balance of fixed income and equity to generate returns in all market conditions.