Industry Updates

Swedish firm Bid & Ask Asset launches equities index derivatives focused Stella Polaris fund, rebrands firm to Stella Asset Management

Thursday, March 11, 2010

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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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