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Digital Subscriptions > The Hedge Fund Journal > Issue 122 - May 2017 > Sissener Canopus UCITS Marks Five Years

Sissener Canopus UCITS Marks Five Years

Serial award-winner growing assets and team

Sissener’s assets have grown to over two billion Norwegian Krone, which is approximately $250 million at current exchange rates. Nearly all of the investor base is Norwegian, high net worth individuals. Most are based in Norway but there are a few expatriates. Sissener has, thus far, done very little marketing outside Norway, and has not yet registered the fund for sale in many other EU countries. Having passed the five year mark that many institutions insist on, Sissener is now seeing inflows ramp up and some local pension funds have started allocating. All of the firm’s assets are now in the UCITS fund. When the company started eight years ago, assets were in unlisted closed ended funds for the first few years.

The team has grown to five analysts and portfolio managers, three in risk and compliance, two in the middle office and two salespeople. The analysts to some degree specialise in sectors, such as financials, shipping, energy and oil services. Sissener is looking to hire an international stock-picker, likely to be aged 35-40 with a strong track record. The individual would probably be based in Oslo, and would probably need to be fluent in Norwegian, but Sissener would not rule out opening a London office for a strong candidate. Founder Jan Petter Sissener jests that he might relocate to London if the Social Democrats return to power and further increase Norway’s already high taxes. In truth, Sissener – who spent most of his career running and building brokerage businesses on the sell side – has lived through plenty of socialist governments before and mentions the local joke that “under the Socialists, the market goes down for three months and up for three years because they spend so much. Under the Conservatives it goes up for three months and down for three years”. Irrespective of politics, Sissener’s returns have been remarkably consistent through the Labour-led coalition under Jens Stoltenberg (who is now Secretary General of NATO) and then the Conservative-led grouping with Erna Solberg as Prime Minister.

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