- Advertisement -
- Advertisement -

Introducing Trude

- Advertisement -

Stockholm (HedgeNordic) – Excalibur Asset Management launched their long awaited new credit hedge fund on October 1, going by the charming name “Trude”. Trude is only the second investment vehicle in the companies history that roots back to being a part of Lancelot Asset Management from 2001 – 2006.

Trudes portolio managers, Anders Nordborg (pictured standing) and Market Ozana (pictured sitting)  will start trading with capital in excess of half a billion Kronor (55 MEUR), seeded by a group of the managers and owners of the fund management company.

Trude will focus on European and American credits with different risk profiles ranging from investment grade to high yield bonds  by corporate and government issuers. Although the main objective is to make a positive return regardless of market moves, the sweet-spot of the fund may lie in the corporate bond market following in year long run of declining interest rates and spread compressionTrude is set to profit from a reversal in that segment once the cost of borrowing money for corporations starts to increase again. Main alpha drivers for the trading strategies will be extracted from relative value, hedged value, macro, momentum and credit analysis.

“Considering the market situation with both bonds and equities having been strong for so many years, we feel the timing is great for a fund with broad mandates to retrieve alpha in such a regulated and illiquid space as the credit market”, says Anders Nordborg.

Excalibur, the seven billion Kronor (750MEUR) flagship fund bearing the asset managers name, extended its losses for 2015 in September giving back a further – 0,7% of NAV and now holds at -1,56% YTD. The fixed income sub index for the Nordic Hedge Index (NHX)  dropped by -0,7% in September, holding positive ground at +0,5% year to date. Should Excalibur close in the red for the year, it would be the first negative return for a calendar year on the clean sheet since the funds inception in early 2001.

Excalibur targets returns of 3-5% of above risk free rate at a volatility of 2-4% while Trude is more ambitious, aiming for 5-10% above risk free rate with roughly twice Excalibur´s volatility.

 

close

Subscribe to HedgeBrev, HedgeNordic’s weekly newsletter, and never miss the latest news!

Our newsletter is sent once a week, every Friday.

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.

Latest

Most Popular This Week

Request for Proposal

- Advertisement -

Latest Articles

Round Table: ETFs & Asset Management

Stockholm (HedgeNordic) – At a round table discussion that took place in Stockholm on October 17, asset managers and ETF providers discussed and answered...

Nordic Managers Win EuroHedge Nominations

Stockholm (HedgeNordic) – With Intelligence has released the first round of nominations for the EuroHedge Awards 2022, with the list featuring seven Nordic hedge...

Expected 75 Point Hike in Riksbank Rate

Stockholm (HedgeNordic) – Sweden’s Riksbank raised the key interest rate by an expected 75 basis points to 2.5 percent, the highest level since 2008....

The Age of Macro is Back

Stockholm (HedgeNordic) – In recent years, fixed-income macro managers such as Carlsson Norén have struggled to deliver attractive absolute returns in a low-volatility environment...

Man AHL Launches its First Systematic Article 9 Fund

Stockholm (HedgeNordic) – Man Group’s quantitative investment arm and engine, Man AHL, has launched the asset manager’s first systematic Article 9 fund. Relying on...

Corporate Bonds are Very Attractive Finds Atlant Fonder

Stockholm (HedgeNordic) – This year’s broad sell-off in the bond market due to aggressive monetary tightening in the fight against inflation may have investors...