Ikano Funds in Luxembourg has decided to merge all existing sub-funds into Sparinvest SICAV ...
... effective as per 28 September 2012. With the take-over of the Ikano Funds, Sparinvest is strengthening its position in the Swedish market as well as supporting its international growth strategy.
Luxembourg, 17-08-2012. The shareholders of Ikano Funds in Luxembourg decided at an extraordinary general shareholder meeting to merge all existing sub-funds into Sparinvest SICAV.
The merger that will take effect from 28 September 2012 includes the 3 sub-funds: Ikano Global Equity Fund, Ikano European Equity Fund and Ikano All Seasons Fund. After the merger into the equivalent sub-funds of Sparinvest SICAV, Ikano Funds will cease to exist.
Ikano Funds has been managed since its launch in 1999 by the Luxembourg registered Ikano Fund Management S.A., which is a part of the Ikano Group, owned by the Kamprad family. “By taking-over the Ikano Funds, Sparinvest is strengthening its position in the Swedish market as well as supporting its international growth strategy”, says Jan Stig Rasmussen, Managing Director, CEO of Sparinvest in Luxembourg. Rasmussen continues, “The take-over impacts more than 5,000 investors, mainly in Sweden and in Luxembourg where the fund has been authorised for public marketing by the local financial authorities as well as a portfolio of approximately €22m to be merged into 3 equivalent sub-funds of Sparinvest.”
Jesper Nielsen, Managing Director of Ikano Fund Management adds: “An important parameter for selecting Sparinvest to take over the management of our fund family has been not only the set-up of Sparinvest that matches ours, but also their consistent long-term investment strategy that corresponds to our philosophy.”
For further information, please contact:
Jan Stig Rasmussen, Managing Director, CEO
Phone: +352 26 27 47 1
Nichola Marshall, Senior PR & International Marketing Manager
Phone: +352 26 27 47 32
Jesper Nielsen, Managing Director
Ikano Fund Management S.A.
Phone: +352 26 44 22 1
Founded in 1968 in Denmark, and with pan-European operations in Luxembourg since 2001, Sparinvest is an international asset management company, authorised to operate within the framework of UCITS IV by the Luxembourg CSSF. The group is known as a specialist in value investment – both for equity and bond funds. Sparinvest is owned by a broad range of Danish institutional shareholders who support the group’s independence and prudent investment strategy, focused on providing competitive risk-adjusted long-term returns. As a natural step to further enhance its risk-focused approach, Sparinvest signed the United Nations Principles for Responsible Investment in 2009 and has now integrated environmental, social and governance (ESG) risk factors into the investment process for all its actively-managed funds. At end June 2012, Sparinvest managed €9 billion on behalf of private and institutional investors.