SEB Asset Selection is a Ucits III compliant hedge fund targeting absolute returns. The fund takes long and short positions in four asset classes (equities, bonds, currencies and commodities) and is targeting an annual return amounting to the risk free rate plus five percentage points. The fund is aimed at institutional investors as well as retail clients. Only two and a half years after launch, it has become the Nordic region's largest hedge fund and SEB's fastest growing fund ever, with assets currently at about €1.5 billion.
"We are very pleased to receive this award", says Hans-Olov Bornemann, Senior Portfolio Manager and Head of Global Quant Team. "When we invented the fund in 2005, our aim was to construct "the ultimate fund", i.e. a fund which combined the best features of hedge funds with the best features of normal mutual funds. Thus, the fund is 100% actively managed, is targeting absolute returns, has an attractive fee structure, is subject to a strict legal framework and can be bought and sold on a daily basis, Bornemann concludes.
Hedge Funds Review's judging process begins by running a quantitative screen over all entries to extract raw performance figures, as well as other important metrics. To ensure consideration from the perspective of every type of hedge fund investor, the judges were selected from a wide variety of investor and advisor companies.
The SEB Wealth Management division has over €100 billion in assets under management and more than 1000 employees. SEB is the largest provider of alternative investments in the Nordic area, including private equity and real estate assets.
SEB is a Northern European financial group serving some 400,000 corporate customers and institutions and five million private individuals. SEB offers universal banking services in Sweden, Germany and the Baltic countries - Estonia, Latvia and Lithuania. It also has a local presence in the other Nordic countries, Poland, Ukraine and Russia and a global presence through its international network in leading financial centres. On March 31, 2009, the Group's total assets amounted to SEK 2,460 billion and its assets under management totalled SEK 1,187 billion. The SEB Group has about 21,000 employees. Read more about SEB at www.sebgroup.com
For further information, please contact:
Hans-Olov Bornemann, Head of Global Quant Team, Senior Portfolio Manager,