Copenhagen (HedgeNordic.com) – Nordic Hedge Funds posted their first gains since April 2011 advancing 0.53* in October 2011 as the markets showed a tiny sign of optimism.

Multi Strategy funds were the best in October advancing 2.89 pct – the best fund being Nordea’s Alpha 15 fund which rose 9.87 pct during the month – therefore being one of the best performing funds in October.

Worst strategy turned out to be Managed futures & CTA which decreased 3.36 pct.

Looking on which countries funds did best, Danish hedge funds was quite a lot in front of the rest. Danish hedge funds advanced 2.80 pct in October whereas Finnish hedge funds decreased 1.68 pct.

Best hedge fund in October is at the moment P&N Idea advancing 11.94 pct. However, Alpha 15 Fund and DNB ECO Absolute Return Fund is right behind advancing 9.87 pct and 7.94 pct respectively.

*Based on 46 pct of all funds in the NHX posting their October performance as of 17-11-2011