Originally named the Atrium Value Partner Sicav European Small Cap Fund, it was established in June 2006 by Atrium Asset Management – a small Danish value specialist acquired by Sparinvest in March 2011.
The fund was the European “carve-out” of a much larger €44m (£37.7m, $59m) Danish fund managed using the same strategy. The fund has now been re-named the Sparinvest European Small Cap Value Fund, but will retain its current management team, Karsten Løngaard and Lisbeth Søgaard Nielsen who continue to jointly manage the fund as part of Sparinvest’s 10-strong Value Equities team.
Sparinvest said, while as a house it manages money with a long term view and with “no belief” market timing, it nevertheless believes the prospects for this fund at this time “are excellent because of recent heavy selling trends in European stock markets”.
“We’re calling it the “zip-code Europe bargain bonanza”,” said Jens Moestrup Rasmussen, head of the Sparinvest Value Equities team.
“With the Euro-zone macro worries dominating the headlines every day, investors are suddenly treating any company with a European postcode as though its in terminal decline. Across the board, European equities are priced as though all companies had suddenly had 30% of their earnings power wiped out forever. There are genuine bargains out there, especially in the small cap sector, and were busy snapping them up as and when investors regain their risk appetites.”
Originally named the Atrium Value Partner Sicav European Small Cap Fund, it was established in June 2006 by Atrium Asset Management – a small Danish value specialist acquired by Sparinvest in March 2011.
The fund was the European “carve-out” of a much larger €44m (£37.7m, $59m) Danish fund managed using the same strategy. The fund has now been re-named the Sparinvest European Small Cap Value Fund, but will retain its current management team, Karsten Løngaard and Lisbeth Søgaard Nielsen who continue to jointly manage the fund as part of Sparinvest’s 10-strong Value Equities team.
Sparinvest said, while as a house it manages money with a long term view and with “no belief” market timing, it nevertheless believes the prospects for this fund at this time “are excellent because of recent heavy selling trends in European stock markets”.
“We’re calling it the “zip-code Europe bargain bonanza”,” said Jens Moestrup Rasmussen, head of the Sparinvest Value Equities team.
“With the Euro-zone macro worries dominating the headlines every day, investors are suddenly treating any company with a European postcode as though its in terminal decline. Across the board, European equities are priced as though all companies had suddenly had 30% of their earnings power wiped out forever. There are genuine bargains out there, especially in the small cap sector, and were busy snapping them up as and when investors regain their risk appetites.”
