The relative value sub-strategies primarily focuses on the analysis of the investment opportunities in the Danish and Swedish mortgage markets. The Investment Manager believes in a high degree of risk control and in maintaining a diversified and largely uncorrelated portfolio.
To monitor the risk profile of the Fund the Investment Manager receives reports and analysis from both external and internal sources on a daily basis.
Risk numbers
Maximum VaR 95% 1d at 2% of Asset Under Management (AUM)
Maximum DV01 risk of 0.10% of AUM
Maximum leverage of 10 ( except for maturities under 2 years. Defined as notional longs divided by NAV)
Non-hedged currency-exposure limited to 1 times AUM
Objective
The objective is to receive a consistent long-term return at 3 mth Euribor +500 bps.
The Midgard Fixed Income FundThe Midgard Fund was launched 1 September 2009.
| The Directors of the Board have elected the following service providers |
| Prime Broker & Custodian |
SEB : Stockholm |
| Administrator and secretary for the fund |
GlobeOp Financial Services : Cayman Islands |
| Auditor |
KPMG : Cayman Islands |
| Legal Advisor |
Appleby : Cayman Islands |
| Investment Manager |
PFA Asset Management : Copenhagen |
The board members of the Midgard Fixed Income Fund are:
Mr. Pierre Montezin : Chairman
Mr. Peter Fehrn-Christensen
Mr. Ulrik Tofte Jensen
Fund structure
The fund is an Open Ended Cayman based Investment Company. Its share class is denominated in Euros and listed on the Irish Stock Exchange. Inception date was 1. September 2009.
For further information and subscriptions to the Midgard Fixed Income Fund, please contact the Administrator GlobeOp: Kasia Brakoniecka : Tel.: + 1 914-670-3836.
This is neither an offer to sell nor a solicitation of any offer to buy shares in any fund managed by PFA Asset Management. Any offering is made only pursuant to the relevant information memorandum, together with the current financial statements of the relevant fund, if available, and the relevant subscription application, all of which must be read in its entirety. No offer to purchase shares will be made or accepted prior to receipt by the offeree of these documents and the completion of all appropriate documentation.