''Launching a managed currency product has been a long term target to meet institutional client demand'', said Marcus Nysten, head of Global Foreign Exchange.
The fund will be one of the worlds first true actively managed multi-manager currency products. Seppo Leskinen, head of the currency management team said that the currency alpha product will be tailored to investor needs offering non correlated returns. ''Combining active currency with other asset classes can have significantly positive effects on investor's risk and return profile.''
Portfolio manager for the fund will be Andy Woolmer, who also was responsible for the development of the multi-manager platform FX MAP. 'Thorough manager selection and a practitioners' understanding of the FX strategies will be our key advantages within a multi-manager product, which we believe will substantially improve an investor's risk profile ''
The SEB Group is a North European financial group for 400,000 corporate customers and institutions,
and 5 million private customers. SEB has local presence in the Nordic and Baltic countries, Germany, Poland, the Ukraine and Russia and has a global presence through its international network in another 10 countries.
On 31 December 2006, the Group's total assets amounted to SEK 1,934bn while its assets under management totalled SEK 1,262bn. The Group has about 20,000 employees. Read more about SEB at www.sebgroup.com
For further information, please contact:
Seppo Leskinen, Head of Hedge Fund Services, tel. +44 20 7246 4282
Andrew Woolmer, Portfolio manager, tel. +44 20 7246 4680
Elisabeth Lennhede, Communications manager, tel. +46 70 763 99 16