- Advertisement -

Related

AAM Absolute Return Fund roars ahead gaining 57% in 2015

- Advertisement -

Stockholm (HedgeNordic) –  AAM Absolute Return Fund, the long/short equity hedge fund managed by Norwegian Oslo Asset Management, finished the year in very strong fashion adding +13.4 percent in November and another +13.8 percent in December. This brings year-to-date numbers to +57 percent.

The AAM Absolute Return Fund seeks to exploit fundamental inefficiencies in publicly traded securities within Energy and Natural Resources.

According to the fund´s November newsletter, a significant short position in the energy infrastructure sector in the U.S. was mentioned as the main performance driver.

”We maintain a significant short position in the energy infrastructure sector in the US. As the business fundamentals for this sector continue to deteriorate, investors start focusing on the astronomic valuation levels of these companies arising from the inflated, and in our view non-sustainable, dividend levels. With heavy debt burden, P/E of 40-50, P/B of 4-5 and significant negative earnings revisions, we believe that the probability of a collapse is significant. W e still see 50-80% downside for many of these companies, if they were to be valued at the same metrics as the companies in our long portfolio”, the monthly commentary reads.

Not all funds have reported final numbers yet for December, but with all likelihood  AAM Absolute Return Fund will end up to be strongest net performer within the universe of Nordic hedge funds, having overtaken Accendo who held that position throughout the year and were banned to second place by AAMs strong run in the last two trading months of 2015. Third strongest performer is Origo Quest 1. In 2014, it was Rhenman HealthcareL/S who was best performing Nordic hedge funds having gained 42%. In 2015,  Rhenman HealthcareL/S is up by 20%.

Picture: (c) studiostoks—shutterstock.com

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

Our newsletter is sent once a week, every Friday.

Jonathan Furelid
Jonathan Furelid
Jonathan Furelid is editor and hedge fund analyst at HedgeNordic. Having a background allocating institutional portfolios of systematic strategies at CTA-specialist RPM Risk & Portfolio Management, Mr. Furelid’s focus areas include sytematic macro and CTAs. Jonathan can be reached at: jonathan@hedgenordic.com

Latest Articles

Atlas Global Macro Builds on Comeback with New Danish Feeder

Atlas Global Macro, last year’s top-performing Nordic hedge fund, is becoming more accessible to Danish investors through a newly launched feeder fund on the...

Svelland Appoints Head of Quant Research from Shell

Commodities-focused asset manager Svelland Capital has strengthened its research team with the appointment of Laurent Hoffmann as Head of Quantitative Research. Hoffmann brings a...

Back at Öhman: Full Circle for Atlant PM

Carl Johan Lagercrantz, a fixed-income portfolio manager at alternative fund boutique Atlant Fonder, has joined Lannebo Fonder as a high-yield portfolio manager. The firm...

Danske Pauses Tactical Risk-Taking as All Eyes Turn to Oil and War

Amid escalating tensions in the Middle East, Bo Bejstrup Christensen and his team at Danske Bank Asset Management have put their tactical asset allocation...

Former Pareto Trader Launches Hedge Fund From Trondheim

After eight years on the brokerage and trading desk at Pareto Securities, Jonas Kvalheim Klock has decided to move back to his hometown, Trondheim...

High Yield’s Allocation Dilemma in a Tight Spread Market

High-yield bonds have long functioned as a carry-driven return engine in institutional portfolios, offering enhanced income and access to the corporate credit risk premium....

Allocator Interviews

In-Depth: Diversification

- Advertisement -

Voices

Request for Proposal

- Advertisement -