Sweden-based Carnegie Fonder, an independent asset management stalwart, has ushered in Universal Investment Group as the new management company for its Luxembourg-based Ucits Sicav fund range. The announcement marks a significant phase in the operations of Carnegie Fonder, a venerable entity within the Carnegie Group with a history spanning over two centuries.
The appointment encompasses the stewardship of assets exceeding 1.1 billion euro under the umbrella of the Sicav portfolio. This collaboration is further solidified through the involvement of UI efa, stepping in as the central administrator. SEB has been appointed as the custodian for the funds. This trio of financial and administrative expertise aims to leverage the collective strength and reputation of the parties involved to ensure the continued prosperity of the Sicav funds under their care.
Carnegie Fonder, well known for its active management approach, continues its legacy of striving for excellence in asset management. Andreas Uller, the CEO of Carnegie Fonder, emphasized the firm’s commitment to generating substantial value for its clients.
“We are delighted to welcome Carnegie Fonder on our Luxembourg platform,” said Katja Mueller, chief customer officer of Universal Investment Group. “They stand out as a leading Swedish asset manager with an excellent reputation for competence in the Nordic region. This mandate underlines our commitment to servicing Nordic asset managers, building upon the successful launch of our UI efa Stockholm office in 2023.”
This development comes on the heels of the successful establishment of Universal Investment’s UI efa Stockholm office in 2023, reinforcing the group’s commitment to the Nordic region. With this strategic alignment, Carnegie Fonder and Universal Investment Group are poised to navigate the complexities of the financial markets, aiming to deliver robust, sustainable returns for their clients while adhering to stringent standards of regulatory compliance and operational efficiency.