Stockholm (HedgeNordic) – Nordic hedge funds, as expressed by the Nordic Hedge Index NHX, gained an estimated 0.17% in November, bringing year-to-date performance to +2.34%.

In terms of strategy attribution, gains were made in Equity hedge strategies, Fixed Income and CTAs, whereas Fund of Funds and Multi-Strategy posted losses.

For the year, Fixed Income strategies outpace other strategy groups by a wide margin with net gains of 7.32% followed by Equity and Multi-Strategy gaining 2.75% and 1.64% respectively. The only strategy group posting losses for the year is Fund of Funds showing a negative 1.62% return.

Among individual managers, Rhenman Healthcare Equity L/S had a strong month with net gains of 8.47% for its euro share class, the fund is however still down 12,74% for the full year. Other top performers included Estlander and Partners Alpha Trend II (+8.12%), Pandium Global (+7.39%) and Sector Zen (+6.98%).

Among the month´s losers, IPM gave back part of this year´s gains with IPM Macro and IPM Currency posting losses of 7.1% and 5.24% respectively. Nordea Alpha 15, one of the strongest performers among Nordic hedge funds for the year, also suffered a sharp give back sending the fund down 6.72% for the month.

The full report can be accessed below:

Picture (c): wongwean – shutterstock.com

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Jonathan Furelid

Jonathan Furelid is editor and hedge fund analyst at HedgeNordic. Having a background allocating institutional portfolios of systematic strategies at CTA-specialist RPM Risk & Portfolio Management, Mr. Furelid’s focus areas include sytematic macro and CTAs. Jonathan can be reached at: jonathan@hedgenordic.com

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