Nordic countries' manager elite boasts new members

Market snapshot

This month there has been an increase in managers across the Scandinavian region who received a rating this month. In total 302 new mangers received a rating across the region, which is a 4% increase from the 290 rated manager last month. A total of 733 ratings were awarded, this comprised 108 AAA, 151 AA and 474 A individual ratings.

Highest New Entrant: Gillian Kwek, Fidelity

Rating

AA-rated in Finland, Norway and Sweden. A-rated in Denmark

Overview

Leading the way this month is ASEAN equities manager Gillian Kwek of Fidelity. Kwek is lead manager on their Fidelity Funds – ASEAN fund. This is currently registered for sale throughout the Scandinavian region.

The fund, as expected, invests heavily in the ASEAN markets, with its main focus being on emerging Asian markets.

In absolute terms, Kwek has returned 64.04% over the past three years, which is more 20 percentage points above the fund’s index, the FTSE World Asia Pacific ex Japan index, which rose 43.04% in the same time frame.

Comeback Star: Alistair Thompson, First State

Rating

A-rated in Norway, Finland and Sweden

Overview

Storming back into the Swedish ratings this month is Asian equities manager Alistair Thompson of First State. Thompson has only ever held one rating in Scandinavia and was last rated back in December 2010 when he had an A-rating in Sweden.

Thompson is recognised for his performance as lead manager on the Skandia Pacific Equity mandate, which he has run since July 2003. His main focus seems to centre on Australia and Hong Kong which combined take up over 50% of the fund.

This investment strategy seems to have paid off over the last three years, with the fund returning 45.79% while its Citywire benchmark, TSE AW Asia Pacific ex Japan index, rose 37.83%.

Rising Star: Håkon Persen Søderstrøm, Dankse Invest

Rating

AA-rated in Norway

Overview

Danske Invest’s Håkon Persen Søderstrøm has upped his rating to AA in Norway this month. The Norwegian equity manager is the lead manager on three Danske Invest funds, with the largest being the Danske Invest Norge I.

Søderstrøm has held an A rating in Norway since October 2012 but has this month increased it to the next tier with a AA rating.

In the last three years he has returned 45.04% to Norwegian investors on the Danske Invest Norge I fund alone. This is ahead of the OSE Benchmark – its Citywire benchmark - which only managed a 39.72% increase.

This coupled with outperformance on his other two mandates has helped push his overall risk-adjusted outperformance higher and earned him his AA rating.

Group ratings

Fidelity and JP Morgan lead the way in the group stakes with 15 managers receiving a rating at each of the asset management firms. BlackRock is second with 14 rated managers, while Danske Capital and Threadneedle, sit in joint third with 10 managers each.