from Idrottens Affärer
Nicklas Lidström and Stefan Edberg, two of Swedish sport's most successful athletes. And two who created a fortune thanks to their own success. Now they become business partners.
Stefan Edberg with Nicklas Lidström and Case CEO Johan Andrassy
Nicklas Lidström becomes shareholder of the asset management company Case where Stefan Edberg is the majority shareholder.
Johan Andrassy, CEO at Case with headquarters in Stockholm, is very proud to tie his company with another one of Sweden's foremost sporting profiles. Since 2004 tennis legend Stefan Edberg is the majority owner and now hockey legend Nicklas Lidström is the next sport profile to become a partner in Case.
- Nicklas Lidström has a winning mentality and his values are very close to us at Case. He has high integrity, is professional in everything he does and leaves nothing to chance. Nicklas strengthens our company in many ways and I am glad that he is one of us, says Johan Andrassy.
from Investment Europe.net
Former tennis star Stefan Edberg and other co-owners of Sweden's Case Asset Management have been hit by a foul call after it was revealed the manager may have hidden higher fees stemming from investments in its own funds.
The practice of a manager's funds investing in each other is legal in the Swedish funds market, as long as investors are fully advised of the ramifications of such investment activity - including any additional indirect costs. However, it is understood following an investigation by Dagens Industri that Case did not ensure all such information was fully shared with its investors.
He fought against Boris Becker, won 6 Grand Slam titles and was leading the world rankings for 72 weeks. Meanwhile the former tennis professional Stefan Edberg works in his own financial management company. In this interview with “The Investment” he explains why investing money is much more different than playing tennis.
How did it happen that you got from a tennis player to a financial professional?
Edberg: As a professional tennis player you earn lots of money within a short time. I earned about 20 million dollars in my 13 years of professional career. During my active time I ceded the investment of my fortune to other people. Especially as a young player you only concentrate on your sport. You practice, eat and sleep, nothing more. But I was always interested in finances. After the end of my career I decided to care alone for it. I started to inform myself, read financial pages in the internet. I wanted to find out which ways there are to invest money.
Have you ever gambled away?
Edberg: I didn’t really lose much money. I’m cautious with investing. But since the dot-com bubble – where I had invested much in stocks – I believe in diversification. In the current crisis this works quite well.
How do you invest your money?
Edberg: I live in Växjö on an own farm with forested area where I lease the fields. I have also bought apartment buildings nearby. I invested much money in corporate bonds, especially from Sweden. In the current international debt crisis I feel more comfortable to give my money to a good Swedish bank instead of investing in consoles.
Stefan Edberg seems to be interested in sponsoring the hockey team of the city where he lives in Sweden, who is likely to compete in the Major league next year
from Sunday Times
Fame and fortune. Stefan Edberg talks to Alexandra Goss. The former world No1 is applying his winning attitude to fund management.
STEFAN EDBERG is a former world number one tennis player who has now set out to dominate the fund management industry. In a professional tennis career spanning 13 years, Edberg, who is Swedish, won six Grand Slam singles titles and three Grand Slam men’s doubles titles.
Apart from John McEnroe, he is the only player to have been ranked number one in both singles and doubles. By the time he retired from the professional circuit in 1996, Edberg, 45, had netted himself more than $20m (£12m) in prize money. A desire to take control of his winnings led him to set up Case Asset Management in Stockholm in 2004, along with former hedge fund managers Bo Pettersson and Fredrik Svensson.
The company launched its Safe Play fund in January, which invests in Nordic corporate bonds, an area in which it became heavily involved during the financial crisis. Edberg lives in Vaxjo, southern Sweden, with wife Annette, 45, and their children Emilie, 17, and Christopher, 14.
19 years ago Stefan Edberg beat Pete Sampras in the US Open to win the sixth and final Grand Slam tennis title of his career - but now, he tells Citywire, he is looking to beat the fund management competition with his firm Case Asset Management.
from Dagens Ps.se