Swedish Hedge Fund Brummer to Set Up New Bangladesh Stocks Fund
Wednesday, December 2, 2009 : PermalinkBloomberg – Brummer & Partners, the largest Scandinavian hedge-fund manager, plans to set up a fund to buy Bangladeshi stocks, betting the south Asian nation will attract investors seeking the world’s next low-cost labor hub.
The fund “should not be larger than $100 million” as only about a third of Bangladeshi companies’ outstanding shares are publicly traded, said Patrik Brummer, founder of the Stockholm- based firm, whose assets are at their peak of about $7 billion. The fund will be formed within the next three months, he said.
