Information regarding the ongoing covid-19 pandemic
Stabelo Fund 1 AB (the Fund) is managed by Stabelo Asset Management AB (the Fund Manager).
During Q1, 2020, the Fund’s operations were unaffected by Covid-19, neither financially nor with regard to business operations.
On an ongoing basis, the Fund’s income from mortgage interest may be affected by the pandemic, but it is difficult to make reliable forecasts of changes in cash flows. The risk of loan losses may increase as a result of a deterioration in the general economic situation in the event of increased unemployment and reduced economic activity.
Good customer care is of the utmost importance to Stabelo. The Fund Manager has taken measures to strengthen activities for customer care in support of mortgage customers seeking to suspend their amortisation payments in accordance with Finansinspektionen’s recommendations, preparedness in handling increased volumes of problem credits and providing mortgage customers with good service and support without delay.
The Fund Manager’s income consists of management fees from the Fund based on the assets under management in the Fund. The volume of assets under management are at a level to generate sufficient management fees to enable the operation of the business for the foreseeable future.
The Fund Manager has taken various operational measures including home working of staff, careful follow-up of the operations of key service providers, business continuity plans and ongoing staffing status, so that the Fund’s operations should not be affected by the pandemic.
About Stabelo Asset Management
Stabelo Asset Management is an independent asset manager investing in Swedish residential mortgages. Institutional investors with a long-term investment horizon are given the opportunity to invest directly into the Swedish mortgage market.
Stabelo Asset Management is a Swedish alternative investment fund manager under the Alternative Investment Fund Managers Act (Sw. “Lag (2013:561) om förvaltare av alternativa investeringsfonder”). Stabelo Asset Management is the manager of Stabelo Fund 1 AB.
Stabelo Group AB (”Holding Company”) owns 100 % of Stabelo Asset Management AB (”Fund Manager”). Stabelo Asset Management was founded in 2016 and is based in Stockholm, Sweden.