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SEK17bn Telia scheme tests hedge fund strategy

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SWEDEN - The approximately SEK17bn Farsta-based Telia pensionsstiftelse (pension fund) for Swedish telecommunications company Telia, has made a foray into hedge fund investing to test the waters for future allocations to the asset class.

Peter Antonsson, head of the pension fund, says the investment involves a small portion of the fund’s assets placed in two domestic hedge funds run by Swedish hedge fund outfit, Brummer & Partners, although he declined to name the amounts involved.
“The main part of the funds is Swedish. Brummer & Partners have two hedge funds, Zenit and Nektar, and we have invested in both.”

He notes that the investment is part of a wider examination of both hedge fund and fund of funds strategies, adding: “We’re not investing yet. We took a decision earlier this year that we would have a little bit of a wait and see approach. We’re looking very closely at the asset classes.”
“We have taken hedge funds on board though as a part of our strategic asset allocation, so we will definitely invest sometime.”

The investment with Brummer & Partners is a test to see how the asset class performs, Antonsson says.

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