- Advertisement -
- Advertisement -

Related

Sector Zen takes a hit in February

Latest Report

- Advertisement -

Vienna (HedgeNordic) – Sector Zen, the Norwegian managed, Japan focused long/short equity fund, fell 8.5% in February on the back of negative contributions of -10.0% of its long book due to significant negative contributions of Japanese real estate and housing related stocks, and a meager +1.5% contribution of its short book. The TOPIX Core 30, representing some of the largest Japanese companies, led declines on the month with a 10.3% drop, while the small cap index TOPIX small also fell hard and ended the month 8.7% lower. This fall in Japanese equities was attributed to global growth and credit worries on one hand, and the introduction of negative interest rates by the BOJ on the other.

In a letter to shareholders, Zen’s PM Trond Hermansen writes that the long book negative performance was driven by condominium developer Goldcrest with -0.7% after a 21% share price fall, and other negative contributions from Cosmos Initia and Sumitomo Real Estate Sales at -0.4% respectively, Misawa Homes at -0.3% and Keihanshin Building and Panahome at -0.2% each. The Fund’s long positions in financial shares also took a beating, with Ashikaga Holdings, Pocket Card and Kansai Urban Banking contributing a combined -1.3%. The one position within the long book that stood out in a positive way was Dynam Japan, which contributed +0.7% on the back of a share price rise of 61%. The short book was up by 1.5% in February, driven by Nitori (+0.5%), Yamato Holdings (+0.3%), and House Foods (+0.2%).

February 2016 has been Sector Zen’s second worst month since inception in April 2006. By month-end, the fund had 67 positions, of which 56 longs and 9 shorts, with a net long exposure of 84%.

 

Picture: (c) aboutpixel.de—Karin-Reich

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

Our newsletter is sent once a week, every Friday.

Glenn Leaper, PhD
Glenn Leaper, PhD
Glenn W. Leaper, Associate Editor and Political Risk Analyst with Nordic Business Media AB, completed his Ph.D. in Politics and Critical Theory from Royal Holloway, University of London in 2015. He is involved with a number of initiatives, including political research, communications consulting (speechwriting), journalism and writing his post-doctoral book. Glenn has an international background spanning the UK, France, Austria, Spain, Belgium and his native Denmark. He holds an MA in English and a BA in International Relations.

Latest Articles

Origo’s Johansson Returns to Sohn Conference with High-Conviction Pick

Swedish stock-picking boutique Origo Fonder is gaining fresh recognition following a strategic transformation, strong performance, and growing assets. The firm’s evolution into an “Origo...

Commodities Lift CTAs Amid Turmoil

In June 2025, the NHX CTA Index was up as losses in stocks and bonds were outweighed by profits in commodities, but briefly erupting...

Finserve Global Security Fund Boosts Quant Edge with Martin Redgård

Under lead portfolio manager Joakim Agerback, the Finserve Global Security Fund has successfully capitalized on the global surge in defense, cybersecurity, and space investments...

Visio Allocator Storms Back After Difficult March

After posting the worst monthly performance in its 15-year history with a 13.7 percent decline in March, the team behind the multi-strategy Visio Allocator...

Sissener Expands Investment and Sales Teams with Senior Hires

Just months after bringing on Mads Andreassen as Investment Manager, Norwegian fund boutique Sissener AS continues to expand its team with two key additions....

Fenja Capital Deepens Bench as Analyst Moves to Full-Time Role

After earning his Master’s degree in Economics from Aalborg University, Anders Madsen has transitioned from a part-time role to a full-time analyst position at...

Allocator Interviews

In-Depth: High Yield

Voices

Request for Proposal

- Advertisement -
HedgeNordic
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.