Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 33 n° 348

Catella AB (publ) recommends, together with other owners, to cease the operations of IPM

Posted by fidest press agency su venerdì, 23 aprile 2021

Informed Portfolio Management (“IPM”) ceases its investment operations and will return all capital to its investors.IPM has a long history as one of the leading global systematic macro managers with strong long-term returns with low correlation to both equities and bonds. The recent investment market for systematic macro-funds has unfortunately been very challenging and IPM has had weak returns and large capital outflows. Catella has therefore, together with the board of IPM, made the difficult decision to recommend that IPM ceases all investment activities and return the capital to the investors. A majority of IPM’s owners are expected to support this recommendation at an upcoming Extraordinary General Meeting.IPM will ensure that all investors are treated fairly. This includes that all investors will be able to redeem their capital in the coming months according to each fund’s specific liquidity rules. The closure of IPM will have a negative effect on Catella’s earnings attributable to the parent company’s shareholders in Q2 2021 with approximately SEK 102,5 million, of which SEK 38,6 million relates to write-off of goodwill and SEK 63,9 million from other wind-up costs.

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