New Products
Norway's SKAGEN Launches High-Conviction Equities Fund
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The firm has launched a high-concentration fund with a value bias.
SKAGEN Funds,
the Norwegian fund manager, has launched a new fund, SKAGEN
Focus, which is a concentrated, long-only global equity fund
available in a UCITS structure and available in the UK. It is
managed by Filip Weintraub and Jonas Edholm.
The fund has a value bias, a statement from SKAGEN Funds said,
and stocks are chosen on a bottom-up basis, focusing on specific
characteristics and potential triggers for future value.
Holding around 35 stocks, the fund will have the most
concentrated of SKAGEN’s equity fund range. The top 10 positions
are expected to form 40 to 50 per cent of the portfolio. The fund
is benchmarked against the MSCI World AC TR Index.
Weintraub was previously lead portfolio manager of another SKAGEN
fund, SKAGEN Global, from 2001 to 2010. He has more than 25
years’ experience and started his career as an analyst at Albina
Fuel and held senior roles at Crabbe Huson Group and LF Capital
before joining SKAGEN in 2001. He re-joins SKAGEN from the
Labrusca Family Office, which he established in 2010 and where he
managed a long/short equity fund.
Edholm also joins from the Labrusca Family Office and has more
than 20 years’ investment experience. He has had roles in
risk management, asset allocation and as an active value-biased
stock-picker, both on the long and the short side.