Carnegie Fonder takes over global fund
Carnegie Fonder has reached an agreement with Pandium Capital AB to take over the Pandium Global equity fund and to employ its portfolio manager, Mikael Tarnawski-Berlin. “Mikael has demonstrated his skill as a fund manager and has an investment philosophy that fits well with our own. Pandium Global provides us with a fund that many of our clients would like to invest in,” says Carnegie Fonder’s CEO Hans Hedström.
Pandium Global is a global equity fund that was started in 2014. The fund has four stars from Morningstar and has the same investment philosophy as Carnegie Fonder, focused value management.
“We have for some time been analysing the potential of a global equity fund to complement our existing equity and fixed income funds focused on Sweden, the Nordic countries and emerging markets. Taking over Pandium Global provides us not only with a talented fund manager, but also an established fund with good historical returns,” says Hans Hedström.
Pandium Global is managed by Mikael Tarnawski-Berlin, who is also the largest shareholder of Pandium Capital AB. The managed assets amount to SEK 81 million. Since its inception, the fund has returned an average of 12.5 percent per year.
“Carnegie Fonder is one of the market’s premier asset managers, and has the same long-term stance, stock picking and risk that I have. Moreover, Carnegie Fonder succeeds in combining the stability of the big players with the independence of the smaller providers, and I am entirely convinced that Carnegie Fonder is the right place for me and for Pandium Global’s unitholders,” says Mikael Tarnawski-Berlin.
Pandium Global is an alternative investment fund (AIF), but under the stewardship of Carnegie Fonder will be converted into a regular UCITS fund, open to a wider group of investors.
The transfer of the management of Pandium Global, as well as a change of name and conversion of the fund from an AIF to a UCITS, are subject to and conditional upon approval by the Swedish Financial Supervisory Authority. The process is expected to be completed after the summer.