Catella raises exposure to stocks that will benefit from Europe's recovery

Stockholm

CATELLA Hedge Fund, a Swedish investor with more than US$1 billion in assets under management, is buying up stocks it says will do well if Europe's recovery picks up.

After returning 8.2 per cent last year and 7.5 per cent in 2013, the self-professed risk-averse fund shifted its investments this month to profit if Europe's economy starts growing at a faster pace, co-founder Ulf Stroemsten said in Stockholm. The fund targets a minimum annual return of 6 per cent.