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Little change for Nordic hedge funds in March

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Stockholm (HedgeFonder.nu) – Nordic hedgefunds closed March with little change, the Nordic Hedge Index ending with a slight gain of 0,1%, according to the HedgeNordic database. 87% of funds have reported their numbers. The Index gained 2,38% in the first quarter.

On a country basis, Finland leads the way up 0,24% in March or 5,49% for the first quarter of 2013, largely drawn by strong performance of CTA Estlander & Partners. NHX Denmark gained 0,11% in March (1,03% Q1/13), NHX Sweden, the largest group representing 71 funds returned 0,18% in March (1,87% Q1/13). While Norwegian managers are up a strong 3,39% for the first quarter, they are the only region in the Nordics returning negative in March, down 0,27%.

Fixed Income strategies advanced the strongest in March, up 0,89% followed by CTAs gaining 0,56% for the month, and fund of hedge funds, up 0,27%. Equity strategies lost 0,13% while multi strategy funds were the biggest losers, giving up 0,25%.

For the first quarter, the CTA sub-index advanced the strongest, gaining 3,84% followed by fixed income (+2,77%) and equity strategies (+2,69%). With multi strategy funds up 0,72% and fund of funds in the green by 1,69%, all NHX sub indices recorded green numbers.

Rhenman & Partners Healthcare Equity L/S, who also won “Best Nordic Equity Focused HedgeFund” at the 2012 Nordic Hedge Award advanced the most of all 122 funds in the HedgeNordic databases in March, up 7,75% or over 20% for the year, followed by Norwegian Sector Zen up 7,73% in March (14,14% Q1) and Estlander and Partner Alpha Trend II, gaining 5,37% in March and leading the tables for Q1/13, up more than 38%.

Best performing Swedish hedgefunds across all categories for Q1 2013 are Rhenman Healthcare Equity L/S (+20,76%), Traction Small Cap (+10,03%), Atlant Edge (+9%) Gladiator Fund (+8,9%) and Nordic Absolute Return Fund (8,68%). The top five places are taken by hedgefunds following equity strategies, the best performing non-equity fund is Alandsbankens multi strategy fund AGPII – Defined Risk 12, gaining 6,37%. At the bottom of the table is DNB Eco Absolute return, which lost 5% in March and is down by over 15% for the first quarter.90% of all Swedish hedgefund managers have reported their March NAV.

Two funds will be removed from the NHX in May: The only Icelandic hedgefund, Verto Recovery Fund and Finish CTA Taaleritehdas Commodity Fund.

Picture: (c) shutterstock—-Hubskaya Volha 

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Kamran Ghalitschi
Kamran Ghalitschi
Kamran has been working in the financial industry since 1994 and has specialized on client relations and marketing. Having worked with retail clients in asset management and brokerage the first ten years of his career for major European banks, he joined a CTA / Managed Futures fund with 1,5 Billion USD under management where he was responsible for sales, client relations and operations in the BeNeLux and Nordic countries. Kamran joined a multi-family office managing their own fund of hedgefunds with 400 million USD AuM in 2009. Kamran has worked and lived in Vienna, Frankfurt, Amsterdam and Stockholm. Born in 1974, Kamran today again lives in Vienna, Austria.

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