Fund of funds doyens confirm launch of new business

Anders Åström, Tomas Otterud say Custor Capital will advise institutional investors and other groups on their investment programmes

European pioneers of the fund of funds industry confirmed today the launch of a new business called Custor Capital.

As revealed by PERE earlier this month, Anders Åström and Tomas Otterud have set up Stockholm, Sweden-based Custor to develop real estate investment programmes for a range of institutional investors and other groups.      

Åström and Otterud are co-founders of Aberdeen Property Investors Indirect Investment Management (IIM).

In a statement today, they said that the third member of the team is Bo Ljunglöf, who is a former fund director of IIM’s activities in Asia.

The fourth member is Edward Jögi, who also worked at IIM as head of investment analysis.

The partners set up the firm having left the global real estate customised fund investment group at Credit Suisse.

In a statement, Åström said: “Having built a global fund of funds’ business at Aberdeen and further developed our network and expertise at Credit Suisse, we believe we are well placed to use these ten years of experiences to assist investors in the management of their real estate programs through the next cycle.”

Ljunglöf added that high volatility in the equity markets had resulted in many institutions considering decreasing their exposure to equities, with a long-term fear of inflation making the bond market less attractive. “In this context real estate with its characteristics of long durations and inflation protection is considered very appealing in today’s environment,” he said.