One man’s secondaries are another man’s pleasure

Stefan Edberg still giving net returns Compared to the baselinehugging boredom merchants who dominate the world tennis tour today, watching old Stefan Edberg footage is a revelation. The Swedish legend’s varied style of game, peppered with plenty of serve-and-volley, is but a cherished memory in 2011. Give Unbalanced a see-sawing Edberg vs Becker match over the trench warfare of Federer vs Nadal any day. Which is all by way of saying that when Stefan Edberg recently announced a foray into the funds management industry, one might have expected him to back some sort of dynamic multi-strategy hedge fund, instead of the asset class he has gone for – bonds. London’s Citywire reported last month that the racqueteer had been “turned on” to opportunities in the credit market during the global financial crisis. He used his notinconsiderable fortune to buy debt from Nordic banks, convinced that they would not suffer the collapse inferred by the price. Edberg part-owns a Stockholm- based boutique, Case Asset Management, which has launched a corporate bond fund called Safe Play, targeting post-fee returns of 5-7 per cent a year. If Edberg can achieve that, it means he’ll continue a trend begun at the 1987 Australian Open Men’s Final – beating Cash.

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AMP Super shielded from crypto rout by early Bitcoin trim

AMP Super slashed its investment in Bitcoin futures ahead of the abrupt crypto sell-off last week, saying it had been an "excellent test" of its forecasting model's ability to de-risk when required.

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