Hi Espen,
Thank you for your question. To be sure nothing gets lost in translation I answer in English.
We would honestly love to make the fund available to Norwegian investors, and we have had a chat with Nordnet about it, but it is difficult. Ironically, it should seem easy as the fund is exchange traded and listed on Nasdaq Copenhagen and therefore by definition easily available. However, as it is a fund listed in Denmark it is denominated in DKK. Tax issues make it difficult to open up for trading it outside of Denmark. To make it available in Norway we would need to create a new share class denominated in NOK and have it licensed by the Norwegian FSA (Finanstilsynet). Apart from the DKK and NOK denomination the share classes would be exactly the same, but a new share class will have separate costs which must be covered by the share class. That in turn requires a certain invested amount from the launch of the share class otherwise we in AI Alpha Lab must cover the expenses of running the share class. I can say from painful experience that these kinds of funds can be quite expensive to run when you are a small company and not a big bank which can move a lot of clients to the fund. So, to remove the risk for us I think we would need 30 million NOK to pre-seed the fund. I know it would be possible, we got more than that in Denmark, and funds like this can attract more than a billion NOK over time, but we have very little reach in Norway and we don’t have the marketing budget to buy it. So, we need to figure out a way to get more Norwegian investors to know us. We try blogging for Nordnet, but what we need is Norwegian investors to sign up for the fund’s newsletter so we can reach them and ask what amount they would invest in the fund if we created a NOK share class. That is how we did in Denmark. Long answer, but as you can see, we are not lacking will but reach in Norway.
Best regards,
AI Alpha Lab
Morten Sterregaard-Feltsen