Opalesque Industry Updates - Bid & Ask Asset Management, manager of Swedish hedge fund Stella Nova will launch a new hedge fund, Stella Polaris on March 31, 2010. Stella Polaris is based on the same equity index derivatives focused investment strategy as Stella Nova, which has returned +67.3% since its launch in September 2003, but the new fund is permitted to take a higher amount of risk, which, the firm says over time, may offer higher returns. |
"We are looking forward to applying our successful investment strategy in the new fund Stella Polaris and to broaden the opportunities for investors that would like to achieve a high risk-adjusted and absolute return that does not correlate with the stock market. Stella Polaris provides our proficient fund managers with a higher risk mandate, which gives them additional tools to work with in managing the fund," said Patrik Carlstedt, Head of Investor Relations, in a statement released by the firm.
Bid & Ask Asset Management is also rebranding the firm with a new name. The company name will be changed to Stella Asset Management. "Changing our company name is a natural step now that we are expanding the product range. We are proud of our products, and the new name of the company creates a strong brand name that refers to our funds," says Carlstedt.
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