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Inge Heydorn By Beverly Chandler, Opalesque London:
Inge Heydorn, chairman and portfolio manager of the Stockholm-headquartered $60m Thyra Technology Fund was inspired to manage his own specialist technology hedge fund from his experiences as an analyst on the sell side: "Selling to hedge funds" he says, "you get to talk to the smartest people."
His specialist area for some 16 years has been long/short publicly listed, global technology stocks, having worked as a technology analyst at Deutsche Bank and ABN Amro. When one of his clients, a fellow entrepreneur, sold out his technology business and proposed seeding Heydorn in his own fund, he leapt at the chance. Heydorn launched Thyra, the Swedish vehicle in 2006 and in August 2011, Heydorn and Catrine Salz - President and CFO - launched THYRA Global Technology fund a Cayman Master Fund in order to offer investors both an on-and -off-shore vehicle to invest in. In 2008, the fund returned 5.4%, in 2009 it had a glory year with a performance of 40.4% and in 2011, the fund achieved performance of 9.78%. The annualised return since inception is 12.67%.
In the normal world, Heydorn aims for 15% returns, employing no leverage, out of actively stockpicking publicly listed technology companies. The entire portfolio turned over 14 times last year but only two names changed. Salz says: "It’s hard to find somebody who does something close to what we do. We are focussed stockpickers, with a major trading overlay, who actively manage the ri...................... To view our full article Click here
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