- Advertisement -
- Advertisement -

Trend-Following Alfa Axiom Fund Stages a Comeback in July

- Advertisement -

Stockholm (HedgeNordic) – Trend-following fund Alfa Axiom Fund generated a whopping return of 8.30% in July, reducing the fund’s year-to-date loss to 5.15%. This represents the fund’s most profitable month since achieving a return of 8.38% in January 2015. The July return came as a breath of fresh air for Alfa Axiom Fund, as the fund was down a worrying 12.42% in the first half of 2017.

The lackluster performance experienced by many trend-following CTAs in the last couple of months was mostly attributable to a lack of volatility. Specifically, a lack of directional volatility hurt performance within the universe of CTA funds. However, Nordic CTA funds, as measured by the NHX CTA Index, staged a comeback in July, returning 2.37% in the first month of the second half of 2017. The CTA family of funds was by far the best performing sub-category within the NHX universe in July.

Alfa Axiom Fund’s largest drivers of performance at the beginning of July were the fund’s long positions in the grain markets, as well as short positions in European and American bonds. During the last several days of the month, the fund managed to add another 1.5 percentage points to the final performance figure despite experiencing headwinds for a couple of days. Alfa Axiom Fund ended up taking profits across the board, leaving only a few small positions: long positions in the British pound and the Euro, as well as gasoline and heating oil.

After enjoying the 8.30% return in July, fund manager Thomas Stridsman believes achieving a good profit for the year is “certainly within reach.” Nonetheless, Alfa Axiom Fund needs a far-fetched 18 percentage-point gain to reach a new equity high, after the fund suffered losses both in 2015 and 2016.

Subscribe to HedgeBrev, HedgeNordic’s weekly newsletter, and never miss the latest news!

Our newsletter is sent once a week, every Friday.

Eugeniu Guzun
Eugeniu Guzun
Eugeniu Guzun serves as a data analyst responsible for maintaining and gatekeeping the Nordic Hedge Index, and as a journalist covering the Nordic hedge fund industry for HedgeNordic. Eugeniu completed his Master’s degree at the Stockholm School of Economics in 2018. Write to Eugeniu Guzun at eugene@hedgenordic.com

Latest Articles

First Non-Swedish Family Office Investment for Protean Small Cap

Stockholm (HedgeNordic) – About one year after the successful launch of their long/short equity fund Protean Select, Pontus Dackmo and Carl Gustafsson introduced a...

Atlant Högräntefond Leads Peers on Third Anniversary

Stockholm (HedgeNordic) – Around mid-March 2021, Swedish hedge fund boutique Atlant Fonder launched a UCITS-structured fixed-income fund investing in Nordic corporate bonds, drawing from...

Rhenman Welcomes Brummer & Partners Sales Veteran

Stockholm (HedgeNordic) – After close to 18 years as an institutional sales professional at Brummer & Partners, Tom Josephson is set to join healthcare-focused...

Untapped Potential in Symmetry’s Small-Cap Portfolio

Stockholm (HedgeNordic) – Small-cap-focused hedge fund Symmetry Invest has achieved an annualized return of around 20 percent over the past five years and over...

Navigating Asia-Pacific’s Transition to Sustainable Growth

Stockholm (HedgeNordic) – Emerging markets in the Asia-Pacific region, such as China, India, Indonesia, the Philippines, Thailand and Vietnam, have experienced significant economic expansion...

The Performance of US Equities in Election Years Over the Last Century

By Daniel Ung, Kartik Chawla, and Jędrzej Miklaszewski – SPDR: The 2024 US presidential election is on the horizon, and investors are keen to...

Allocator Interviews

Latest Articles

In-Depth: Emerging Markets

Voices

Request for Proposal

- Advertisement -