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Nordic Hedge Index advances 1,15% in October

Report: Alternative Fixed Income

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Stockholm (HedgeNordic.com)  – Nordic hedge funds continued their advance in October, the average fund increasing NAV by 1,15% for the month, according tot he Nordic Hedge Index (NHX). NHX composite now stands 5,14% higher for the year.

While all NHX subindices gained for the month, once again equity strategies were the strongest sub-segment, up by 1,43% (8,57% YTD) ahead of fixed income strategies appreciating by 1,03% in October (8,4% YTD). NHX Multi Strategy gained 0,97% (2,26% YTD) and fund of hedge funds 0,88% (3,77% YTD). Despite gaining just over 1% in October, Managed Futures / CTA are still the only segment in negative territory for 2013 at 1,5% behind 2012 closing prices.

NHX country breakdown shows the stronges advance for Norwegian managers, which added 2,74% in October to compound at an impressive 14,12% for the year so far. NHX Sweden follows inc respecatable distance, up 0,64% in October (4,26% YTD) and NHX Denmark, up 1,62% in Otober (1,15%YTD). NHX Finland still shows up negative for the year by -1,67% despite an advance of 0,86% in October.

Norewgian mangaged, Swiss based Grand Haven Capital reported impressive returns. Grand Haven Capital Fund added 20,54% to NAV in October and is now up over 70% for the year. The managers second fund, Grand Haven Capital Neutral Fund was not far behind in October, storming ahead by 17,12% (44,21%). Both funds are not surprisingly among the top five  among the 150 funds listed in NHX ranked by standard deviation.

Among the top performers for the month were also eTurn, up by 5,23% (24,6% YTD), Graal Kvanthedge (4,9% MTD / 5,96% YTD) and Danske Invest European Equities Absolute Fund (4,75% MTD / 5,13% YTD).

On a year to date basis not surprisingly Grand Havens two funds lead the table looking at absolute net performances. Rhenman Healthcare despite loosing 3,34% in October is close behind, up 42% for the year ahead of Brummer & Partners Manticore, up 32,4% YTD and Madrague Equity L/S, advancing 27,2% so far in 2013.

 

Bild: (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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