Carnegie Fonder has on 3 February 2011 decided to terminate its operations in exchange traded funds (ETFs). Carnegie Fonder will therefore once again focus entirely on its core business of actively managed funds.
The activities in exchange traded funds (ETFs) were initiated in 2009 by HQ Fonder, which in September 2010 was bought by Carnegie and changed its name to Carnegie Fonder.
"Exchange traded funds have limited synergies with the other fund operations, and have not achieved a critical mass. We have therefore decided to terminate these activities and focus on our core area, namely actively managed funds with a focus on Sweden, emerging markets and fixed-income securities," says Hans Hedström, president of Carnegie Fonder."
With the decision to terminate the ETF operations, the following funds will be closed:
HQ OMX Double Long ETF
HQ OMX Double Short ETF
HQ Verkstad ETF
HQ Fastighet ETF
HQ Finans ETF
HQ Material ETF
HQ NASDAQ 100 ETF
As a consequence of the above funds being closed, the Board of Carnegie Fonder has also decided to apply for delisting of these funds from Nasdaq OMX Stockholm AB. Carnegie Fonder will strive to manage the closure as smoothly as possible from the unit holders' perspective. Unit holders can find more details about the closure of the ETFs at www.carnegie.se/fonder.