Finserve Global Security Fund (GSF), a fund that invests globally in companies in defence, cyber security and space, hires Sweden's former head of the army Karl Engelbrektson as Head of Advisory Board – a function that is directly advisory to the management of the fund. At the same time, the fund company takes parts of the fund's costs in order to reduce the unit owners' costs.
Engelbrektson, who has just retired from the Swedish Armed Forces, joins the fund directly as a partner and advisor. Within the defence, Engelbrektson has held a number of leading positions, including head of the army for 7 years, Sweden's military representative in the EU and NATO. He has also held senior management positions in both NATO and EU organisations.
As the main person responsible for the fund's Advisory Board, he will contribute with his long experience from the defence. Karl has an extensive national and international network as well as unique insights into the global trends that affect the sectors the fund invests in. The insights and analysis will form the basis of the Advisory Board's advisory function to management.
In a comment, Karl Engelbrektson says:
"It is with great enthusiasm and energy that I join the Finserve Global Security Fund. Our democracy, freedom and security are a common concern. We must therefore create new well-managed ways to get capital to reach industries that contribute to this. With my involvement in GSF, I see great opportunities to concretely influence this development in a positive direction."
The fund company that manages the fund has also decided to take part of the fund's external costs for administration and structure itself in order to reduce the investors' costs. The fund's prospectus now has a cap on total costs of 2.25 % of managed capital. It also includes the management fee of 1.60 %.[1]
[1] Implicit transaction costs can result in higher costs and thus annual costs are stated in the fund's fact sheet at 2.4 %, but in the prospectus (corresponding to Swedish fund regulations and information brochure) 2.25 % is stated for the fund.
