Danish consultancy Kirstein has selected Standard Life Investments to manage a $200m (€157m) global equities portfolio with seed capital coming from an unnamed Danish institutional investor.
The assets will be managed by Standard Life Investments’ global equities team in a similar way to its existing global equities fund SICAV, but wrapped as a Danish mutual fund, allowing domestic institutional investors easy access to it.
Standard Life Investments did not disclose the name of the investor providing seed capital for the Danish fund, but described it as “one of Denmark’s most established institutional investors”.
The new fund will be managed by Mikhail Zverev, head of global equities at Standard Life Investments, alongside investment director Dominic Byrne.
The company said its global equities fund used a bottom-up stock-selection approach that enabled it to find shares that the market has not factored in – an approach it calls ‘Focus on Change’.
Jesper Kirstein, chief executive and founder of Kirstein, said this process was unique when compared with other competent managers.
“We have high expectations regarding future performance,” he said.
Åsa Norrie, co-head of European business and Nordic region head at Standard Life Investments, said the mandate win was a “further landmark in our success in the [region]”.
Norrie said the company had ambitious expansion plans across the Nordics and had recently opened an office in Sweden.