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A $200 Billion Danish Investor Sorts Bad Hedge Funds From Good

  • Danske wealth management unit says hedge funds stopped hedging
  • CIO still uses hedge funds in Denmark to help with repo trades
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Axiom Chairman Sees Game Changing for Hedge Funds

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The hedge fund business isn’t what it used to be. For starters, a lot of funds in the industry forgot to hedge at crucial moments over the past decade, according to the men now running the $200 billion wealth management unit of Denmark’s biggest lender, Danske Bank A/S.

“If you look back over time, there are a lot of hedge funds that were really exposed to the market,” Anders Svennesen, the chief investment officer of Danske’s pension arm, Danica, who was recently made CIO at the bank’s wealth unit, said in an interview at his office outside Copenhagen.