The fund, Skagen Insight, will combine a value-based, bottom-up stock-picking approach with a “shadow activism” methodology that identifies 30-40 companies on the receiving end of activist campaigns.
Skagen said these campaigns aim to unlock value in businesses by improving their structure, strategy, operation, financial affairs or governance.
The portfolio will be managed by Tomas Johansson (pictured), who joined Skagen in 2015 after six years at European activist fund, Cevian Capital.
Investors in the UK, Luxembourg, the Netherlands, Norway, Sweden and Denmark will be able to access the fund. It will carry a fixed fee of 1.50% and a performance fee of 10% on outperformance relative to the MSCI World Index.
Johansson said: “Despite many common misconceptions, activist interventions can have profound positive benefits for shareholders by instigating corporate changes that can unlock additional value. However, the barriers to entry of direct exposure to activist campaigns are often significant and out of the reach of many investors.
“By employing a shadow activism approach, we believe we are able to offer investors a highly attractive proposition that allows them to benefit from activist efforts within a more liquid, diversified and therefore lower risk structure.”
