- Advertisement -
- Advertisement -

Related

Brummer & Partners in rough waters

Report: Alternative Fixed Income

- Advertisement -

Stockholm (HedgeNordic) – For the Swedish hedge fund manager Brummer & Partners, February wasn’t the best of times, looking at the numbers for all the funds within the goup.  Brummer Multi-Strategy (BMS) ended the month in negative territory by -1,9% (acc. 2016: -2,5%). This is the worst start of a year for the BMS since the launch in 2002. The Nordic Hedge Index (NHX) advanced by 0,5% in February but remains under water by 0,6% for the year.

Marked by the high volatility on all global markets, the rapid movements took it’s toll on almost all of the funds within BMS, allthough being close to market neutral, Brummer says in a comment on the monthly result.

Weighing heaviest on the multi-manager portfolio during February was the tech fund Manticore, with -11%, due to very large swings in tech stock pricing. The biggest positive contribution came from the systematic trend following CTA, Lynx, and quant/macro driven Florin Court. Both of them succeeded in catching the very strong trends during the month, in particular within fixed income and commodities.

Due to the fact that BMS performance has been below expectations, changes have been made to the portfolio composition. BMS has redeemed all holdings in Zenit (the actual starting point of the Brummer hedge fund history), Canosa and MNJ. The reasons behind it are the fact that none of these have contributed enough to the overall performance for BMS.

The capital is now distributed among the remaining funds. The newest family members, Florin Court and L/S manager Bodenholm will get larger allocations, according to the managers. Also the ’old timers’ within the group – Lynx and Nektar – will see more money coming their way when BMS re-allocate the portfolio.

 

Picture: (c) Romolo-Tavani—shutterstock.com

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

Our newsletter is sent once a week, every Friday.

HedgeNordic Editorial Team
HedgeNordic Editorial Team
This article was written, or published, by the HedgeNordic editorial team.

Latest Articles

Beyond the Benchmark: Aktia’s Active Approach to EM Local Currency Debt

Passive strategies have reached nearly every segment of financial markets, including the more remote corners of emerging market (EM) local currency debt. While passive...

Standout Month for Symmetry: A Sign of Things to Come?

February of this year marked one of the best months in the nearly 12-year history of stock-picking hedge fund Symmetry Invest with an advance...

CTAs Struggle Amid Reversals, Non-Trend Strategies Hold Up

In February 2025, the NHX CTA index was down due to losses in soft commodities, energies, and bonds as markets reversed forcefully on gloomy...

Tidan Capital Launches Portable Alpha Product

Late last year, Tidan Capital introduced Nova, a market-neutral options and volatility arbitrage strategy designed to exploit anomalies in equity options markets. These inefficiencies...

NBIM Signals Interest in Long/Short Equity

Investor interest in long/short equity strategies appears to be making a comeback as market volatility and stock dispersion – driven in part by higher...

Protean Officially Rolls Out Third Fund: Active with Index-Level Fees

Stock-picking boutique Protean Funds is set to officially challenge passive investing with the launch of its third fund, Protean Aktiesparfond Norden, on April 1....

Allocator Interviews

In-Depth: Megatrends

Voices

Request for Proposal

- Advertisement -