- 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

Joakim Hannisdahl Takes His Quantitative Playbook From Shipping to Crypto

Joakim Hannisdahl is best known for his work in the highly cyclical shipping industry. After several years as a sell-side shipping analyst, he moved...

Tidan Capital Launches UCITS Version of NOVA

Swedish multi-strategy boutique Tidan Capital has launched a UCITS version of its NOVA volatility arbitrage strategy, broadening access to the strategy among institutional investors....

Folketrygdfondet on the Enduring Case for 60/40

The traditional 60/40 portfolio, combining the complementary roles of equities and bonds, remains a central reference point in institutional portfolio construction. Few investors have...

Adrigo Moves to Long-Only Approach in New Phase

Staffan Östlin stepped down from his role as portfolio manager of Adrigo Small & Midcap L/S during the summer, with responsibility for the fund...

Insurance Risk as a Source of Portfolio Diversification

HedgeNordic welcomed 15 institutional investors and investment professionals to ILS Day Stockholm, bringing together allocator and manager perspectives on the role of insurance-linked investments...

AP3’s Jonas Thulin: “The 60/40 Portfolio Has Run Its Course”

The 60/40 portfolio was built on a simple premise: equities drive long-term returns while bonds provide stability and diversification. But that relationship is no...

Allocator Interviews

In-Depth: Diversification

- Advertisement -

Voices

Request for Proposal

- Advertisement -