In this report Novus reviews insights from the European Short Disclosure Regulation (ESMA)–Novus tracked more than fifty billion Euros in short investments from the daily filings of over 250 managers. Novus displays sector exposure changes and track last month’s best short picks. They also rank the most shorted securities, the most covered securities, and the top new shorts of the[Read More…]
Stockholm (HedgeNordic) – Economist Hafsteinn Hauksson has been appointed co-investment advisor of Gamma Icelandic Macro Fund and Gamma Icelandic Opportunity Fund, the two hedge funds run by Icelandic wealth manager Gamma Capital Management. Mr Hauksson, who already works out of GCM’s London office since early this year, will assist Gisli Hauksson, Gamma chairman and London CEO, in managing the fund’s[Read More…]
Stockholm (HedgeNordic) – With both hedge funds and service providers maturing and in a process of transformation, managers are continually and perhaps increasingly re-evaluating whether they are getting the services they need, according to a new special report from Preqin. “Service providers are a vital part of the hedge fund landscape, assisting in the smooth running of operations,” says Amy[Read More…]
Stockholm (HedgeNordic) – GAMMA Capital Management, an Icelandic asset management company that manages two funds included the Nordic Hedge Fund Index (NHX), has been awarded the 2017 European Hedge Fund Performance Award for the best macro fund under 500 million USD. The prize was bestowed to GAMMA’s flagship real estate fund, GAMMA Centrum, by fellow hedge fund-focused publication HFMWeek. The Centrum[Read More…]
Stockholm (HedgeNordic) – Hedge funds are proving resilient in the face of an explosion of geopolitical risk, Lyxor writes in its latest weekly brief. With an increasingly speculative and uncertain first round of the French presidential election, the U.S. strike on Syria and tensions on the Korean peninsula, hedge funds strategies have for the most part remained positive, CTAs being[Read More…]
Stockholm (HedgeNordic) The latest Index Flash Update from Eurekahedge is indicating a Q1 2017 performance of 2.29% for hedge funds, having gained 0.34% in the month of March. The latest Index Flash Update from Eurekahedge is indicating a Q1 2017 performance of 2.29% for hedge funds, having gained 0.34% in the month of March. Underlying markets gained 5.06% in Q1[Read More…]
Much of Novus´work involves calculating the risk of crowded trades for hedge funds and their investors. But why is crowding on the rise? Especially in US equities, the answer is simple: there are less stocks and more hedge fund managers than ever before. The following chart tracks the number of hedge funds against the number of publicly traded stocks. The[Read More…]
Stockholm (NordSIP) – In July 2016, the Swedish hedge fund group Brummer & Partners became a signatory to the United Nations Principles for Responsible Investment (UNPRI) and has thereby pledged to integrate responsible investment at the group level as well report on its progress on an annual basis. The group’s business model is based on partnerships with independent investment managers.[Read More…]
In today’s hyper-competitive business world, there’s a never-ending deluge of self-help lists, man- agement consultants, and executive mentorship training. You can read Medium or HBR, you can watch TED talks, and you can attend a Coursera webinar. While most management observers point to improved baselines across corporations, the zeitgeist of media attention gravitated toward the Silicon Valley startup space and[Read More…]
CTAs continued to head north during the last two weeks of December adding to an already positive month. The currency bucket was the leading contributor. Systems benefited from their long USD positioning as global currencies continued to fall versus the greenback. Equities also led to profits with major contributions from the Japanese and European markets especially during the 3rd week[Read More…]
Saudi Arabia is the biggest and most in uen al member of the six-member Gulf Coopera on Council (GCC) that was created back in 1981 and whose member states’ currencies are pegged to USD. In total roughly 50 mln people live in the GCC, around 700 companies are listed on the local stock exchanges and aggregate market caps stack up to[Read More…]
Stockholm (NordSIP) -AP2, the second Swedish national pensions buffer fund (Andra AP-fonden), has divested 10 more of the stocks it holds on grounds of financial climate risk, marking the further integration of ESG (Economic, Corporate and Social Governance) as part of its asset management strategy. This brings SEK 90 billion of the Fund’s SEK 300 billion in AUM in line[Read More…]
Stockholm (HedgeNordic) – Michael Petry (pictured), chief portfolio manager at Danske Bank’s flagship hedge fund Danske Invest Hedge Fixed Income Strategies, which has $1.15 billion in AUM recently conducted a wide-ranging interview with Barron’s in which he reveals his forecasts for bond markets in 2017. The most pressing issues facing global bond investors will be navigating markets impacted by the[Read More…]
Stockholm (HedgeNordic) – Alfakraft, the Swedish quantitative multi-strategy hedge fund shop, has decided to shut down one of its underlying funds, the Alfa Edge Fund. The fund was closed following a stream of negative returns that had brought year-to-date returns to -10.78% as of end September, leading the fund to its third consecutive losing year. The Alfa Edge Fund was[Read More…]
Stockholm (HedgeNordic) – Nordic hedge funds, as expressed by the Nordic Hedge Index NHX, gained an estimated 0.33% in September. Year-to-date, the NHX Composite index has gained 2.21%. In terms of strategy attribution, the month was a mixed bag with CTAs underperforming other strategy groups, building on the losses seen in August. Equity and fixed income strategies made solid gains of[Read More…]
London (HedgeNordic/Tatja Karkkainen) – Fintech has been frequently on the headlines of financial press. This has been mostly for the growth in the consumer-focused financial services through the new business model companies as the traditional banks have not kept up with catering the demands of retail customers. Fintech nevertheless has been and is catering well the Hedge Fund industry –[Read More…]
Stockholm (HedgeNordic) – The company name Entropics is derived from the word “entropy”, from the world of physics, which indicates a consistent increase over time – something that Entropics co-founder and CEO, Robert Lindblom, views as relevant to catastrophe bonds, given the increasing frequency of extreme weather events. Entropics is the only dedicated ILS manager based in Scandinavia (with one person[Read More…]
Stockholm (HedgeNordic) – We incessantly hear about the trillions of sovereign and corporate debt with negative yields, but this relates to sovereign, and some investment grade corporate, credit, mainly in Europe and Japan. We hear much less about the trillions of dollars of corporate and asset backed securities, and associated structured credit, that still offer positive yields of roughly between[Read More…]
Stockholm (HedgeNordic) – If macro markets are efficient at discounting consensus views then, in theory, only economic surprises should move markets. But active managers cannot realistically hope to “out-forecast the market at every stage of the cycle”, according to GAM’s Michael Biggs, who helps manage the JB Local Emerging Bond Fund. However, he finds “the market is prone to making specific forecast[Read More…]
Stockholm (HedgeNordic) – Copenhagen-based Moma Advisors’ Asgard Fixed Income fund, advised by Morten Mathiesen (pictured left), Jesper Obeling Kring (pictured middle), and Jorgen Jorgensen (pictured right), is a classic fixed income arbitrage strategy fund. The strategy, running half a billion Euro, has delivered 14.2% annualized performance since inception in 2003 at a 6.7% volatility – resulting in an impressive Sharpe[Read More…]
Stockholm (HedgeNordic) – Nordic hedge funds, as expressed by the Nordic Hedge Index – NHX, gained an estimated 0.7% in September (88% reported), extending their year-to-date aggregate gains to 2.3%. The five NHX sub-categories displayed mixed performance, with CTAs suffering another period of underwhelming performance due to quick reversals in several months-long trends (falling bond yields, weakening U.S. dollar and rising metal[Read More…]
