Estonian firm registers emerging Europe fund in Luxembourg

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Tallinn-based boutique Trigon Capital has registered its New Europe fund with Luxembourg’s financial market regulator CSSF at the start of February, InvestmentEurope has learned.

The Trigon New Europe fund, which had €143m of assets under management at the end of 2017 and that was launched on 10 April 2002, is the first sub-fund of Trigon’s Luxembourg Sicav.

It invests in equities of the European Union most recent member states and of countries in the process of accessing the EU membership.

Hence, the value-oriented fund focuses on investments in Poland, the Czech Republic, Hungary, Romania, Slovenia, Austria (companies with CEE exposure), Serbia, Bulgaria, the Baltic countries and can invest in Turkey. Russia is put aside from the fund’s stock-picking. It holds 35 to 40 positions in portfolio.

Trigon’s New Europe fund was hitherto available in Estonia, Finland, Sweden as well as in Switzerland, the UK, Austria and Germany. In Norway, it is offered to institutional investors only.

According to its December 2017 report, the fund reported 24.9% returns over 2017 with a 75% active share throughout the year while its benchmark, the Stoxx EU Enlarged Index representing Eastern European markets excluding Turkey and Russia, rallied 25.4% in 2017.

Trigon Capital was founded in 1994.