The future is uncertain for C Worldwide's fund "Danmark". The asset manager will no longer offer management of Danish equities. As a result, the Danish fund arm of asset management group Carneo is now discouraging new investors from investing in the fund, and plans to inform further about the future of the fund on March 23.
C Worldwide now warns new investors not to inject new capital into its investment fund 'Danmark' because the asset manager will no longer manage Danish equities. Instead, C Worldwide, which is part of Stockholm-based asset manager group Carneo, has decided to concentrate its efforts on global strategies, informs a statement from chairman, Karsten Kielland, submitted to the Copenhagen Stock Exchange Wednesday. The investment company, in which the C stands for Carnegie, currently has six different mutual funds, in which investors can inject capital. All funds are managed by the association's affiliated asset management company C Worldwide Asset Management Fondsmæglerselskab A/S. Aside from the 'Danmark' fund, the remaining funds all have an global investment mandate. The mixed fund 'Stabile Aktier' (Stable Equities), which contains a mix of Danish and foreign equities has been so successful that rating agency Morningstar recently voted it the best global equity fund in Denmark. It is, among other things, the success of this fund that has led the asset manager to decide that it will focus even more on global strategies, the notice to the stock exchange informs. The future of the 'Danmark' fund will be decided during a board meeting on March 23, after which C Worldwide will provide further information.
This post originally appeared on AM Watch.
