05 Jul 2011 15:00

SEB gets first Nordic "AA"-rating for Fund of Hedgefunds

Standard & Poor's, the rating agency, has awarded a "AA" rating to SEB's True Market Neutral fund. It's the first Nordic Fund of Hedge Funds to receive such a strong rating and it shows that SEB's efforts to provide customers with high quality savings and investment opportunities is paying off.

"This is a stamp of approval for the fund, which has delivered stable returns for our customers regardless of the development in the stock market," Mikael Spångberg, head of the team at SEB that manages the fund, says.

S&P states in its ratings report that SEB "deserves credit for its highly disciplined application of the process as evidenced by achieving the fund objective throughout, and during periods in which the overwhelming majority of Fund of Hedge Funds have fallen short. For example, the fund returned 3 per cent in 2008, and has continued to provide positive returns every year."

The fund, which is targeting institutional investors, aims to provide an annualised return of 3-4 percentage points above the risk free rate and to deviate no more than 5 percentage points from the target and have no correlation to stock markets.

In addition to issuing the new rating for SEB's True Market Fund, S&P has also rated the bank's Dynamic Manger Alpha and Asset Selection funds "AA".

For further information, please contact
Mikael Spångberg, Head of SEB Alternative Investment Team
+46 70-7639809
mikael.spangberg@seb.se
Press contact
Ola Kallemur, Group Press Officer SEB
+46 763- 975466
ola.kallemur@seb.se

 

SEB is a leading Nordic financial services group. As a relationship bank, SEB in Sweden and the Baltic countries offers financial advice and a wide range of financial services. In Denmark, Finland, Norway and Germany the bank's operations have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The international nature of SEB's business is reflected in its presence in some 20 countries worldwide. On 31 March 2011, the Group's total assets amounted to SEK 2,118 billion while its assets under management totalled SEK 1,372 billion. The Group has about 17,000 employees. Read more about SEB at www.sebgroup.com

SEB Venture Capital
SEB Venture Capital unit was founded in 1995 and is part of the SEB Group. With a capital base of 2.5 billion Swedish kronor it currently has 35 investments in growth companies in the portfolio and has carried out 45  exits since its inception. www.seb.se/venturecapital