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Copenhagen Meatpacking District managers aim for billions in growth

Danish asset manager Moma Advisors is looking to expand its hedge fund business "substantially" from the current DKK 6 billion.

Asset manager Moma Advisors, which resides in the Copenhagen Meatpacking District, is ready to grow substantially from the first DKK 6 billion(EUR 800 million) currently under management by the three hedge funds, according to Danish business daily Børsen.

“The largest fund is not expanding, that one is closed. But the other two we would like to expand with about DKK 3.7 billion  each,” CEO Birger Duurhus tells Børsen.

The investments range from Scandinavian property bonds to corporate bonds and credit default swaps, which is a kind of insurance on bonds. For the past three years, the largest fund, Asgrad Fixed Income Fund, has won the title of the best annuity fund in the Nordics at Nordic Hedge Awards. Since 2003 it has generated average returns of more than 14 percent per annum.

English Edit: Marie Honoré

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