Closure of the Bodenholm funds
The Board of Directors of Bodenholm Capital AB (the “Company”) has decided to discontinue the active management of the funds Bodenholm One, Bodenholm Two and Bodenholm Master (the “Funds”), as well as to end its appointment as investment manager of SEB Prime Solutions – Bodenholm Absolute Return (“Bodenholm UCITS”).
Following the announcement that the CIO, CEO and parts of the investment team have announced that they intend to leave the Company, and that Brummer Multi-Strategy (“BMS”) announced that the BMS fund will redeem its investment in Bodenholm One and Bodenholm UCITS, the Board of Directors has determined that the conditions for continuing the Company's operations are no longer present and has therefore decided to discontinue the management of the Funds. The Funds’ portfolio has been fully de-risked and now consists in all material respects of cash assets.
The company has also decided not to charge management fees as of April 1, 2020, and to keep the Funds open for extra redemption on April 15, 2020 with payment as soon as possible thereafter. BMS has stated that it intends to redeem its holdings in the Funds on April 15, 2020.
Redemption
The Funds will be handed over to the custodian after the end of April 2020 for liquidation. During the liquidation of the Funds, redemption of fund units may not take place. The liquidation may take time. Investors are therefore urged to submit redemption orders as soon as possible.
Unit holders with investments through a nominee account or ISK account need to log on to brummer.se to redeem by the latest on April 14, 2020 at 16:00 CET for redemption on April 15, 2020, or by the latest on April 29, 2020 at 16:00 CET for redemption on April 30, 2020.
Unit holders with direct investments in the Funds need to fill out a redemption form which must be received by Citco by April 14, 2020 at 16:00 CET for redemption by April 15, 2020, or received by April 29, 2020 at 16:00 CET for redemption by April 30, 2020.
The redemption form is available at brummer.se or can be ordered from Investor Relations.
Unit holders with investments in the Funds through Brummer & Partners’ insurance offering will be informed through an additional letter.
With enquiries related to redemption, please contact Investor Relations by phone +46 8-566 214 80 or info@brummer.se.
Unit holders of Bodenholm Absolute Return
The fund management company FundRock Management Company S.A. ("FundRock") is Bodenholm Absolute Return’s fund management company. FundRock has provided its specific information on the liquidation of Bodenholm UCITS.
Information from FundRock is available here
For media related enquiries, please contact Johanna Hoffstedt at +46 739 874 311 or media@brummer.se.
Finally, Bodenholm Capital AB would like to thank you for your confidence and trust over the recent years.
Erik Orving
CEO, Bodenholm Capital AB
Per Johansson
CIO, Bodenholm Capital AB