- Advertisement -
- Advertisement -

January’s Leaders Amid Dispersion

- Advertisement -

Stockholm (HedgeNordic) – After returning 6.4 percent on average last year, Nordic equity hedge funds gained 0.3 percent in January (92 percent reported). There was noticeable dispersion of returns across funds, as the top 20 percent returned 4.1 percent on average while the bottom 20 percent lost 3.9 percent.

Global equity markets, as measured by the FTSE World Index, rose by 0.3 percent in Euro terms last month. Nordic equities, as expressed by the VINX All-Share Index, returned a negative 0.1 percent in Euro terms. The index includes all firms listed on Nasdaq OMX Nordic Exchanges and Oslo Börs. Eurozone equities were down 1.7 percent, whereas North American stocks gained 1.7 percent in Euro terms.

Based on preliminary estimates, both European and global equity hedge funds incurred losses in January. The Eurekahedge Long Short Equities Hedge Fund Index, which tracks the performance of over 900 global equity hedge funds, was down 0.4 percent last month based on reported data from 30 percent of index constituents. European equity hedge funds, as expressed by the Eurekahedge Europe Long Short Equities Hedge Fund Index, lost 0.3 percent on average based on reported data from 30 percent of index constituents.

The dispersion between last month’s best- and worst-performing members of the NHX Equities was somewhat higher than in the previous months. The top 20 percent of members gained 4.1 percent on average, whereas the bottom 20 percent was down 3.9 percent. Approximately half of the members of the NHX Equities posted gains in January.

Systematic market-neutral fund QQM Equity Hedge was the best-performing fund in the Nordic Hedge Index last month. The fund managed by Ola Björkmo and Jonas Sandefeldt returned 5.8 percent in January. Activist fund Accendo closely followed suit with a January return of 5.4 percent. Stockholm-based long/short equity fund Gladiator Fond was up 5.1 percent, while HCP Focus Fund and Adrigo Small & Midcap L/S gained 4.7 percent and 4.0 percent, respectively.

 

Photo by Glen Carrie on Unsplash

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 -