LONDON (AFX) – Storebrand Investments said it established four hedge funds in Luxembourg aimed at the institutional market during the third quarter.
The four long/short equity funds are in addition to the firm’s active credit, tactical asset allocation and global fixed income hedge funds which are also based in Luxembourg.
Huns Aasnas, head of asset management at Storebrand, said: ‘We are seeing very strong demand from our clients for these products. And as an asset manager of our size, we have to move into higher margin products because it is hard for us to compete in terms of volumes and products.’
He added that the firm had established its hedge funds in Luxembourg due to regulatory restrictions in Norway.
