SEB Invest & Fonder, the fund management arm of Swedish financial services provider SEB, has hired a seven-strong team to launch a fixed income hedge fund.

Rikard Kjörling, head of fund management, said that the fund will target mainly institutional clients, with a European and Swedish investment bias, although the US and Japan are also likely markets. If the fund performs well, it is likely that it will also be made available to retail and private banking clients.