- Advertisement -

Related

Mixed bag for Coeli’s hedge funds in March

- Advertisement -

Stockholm (HedgeNordic) – Swedish asset manager Coeli showed mixed results for its hedge fund offering in March as its newly launched quant fund Prognosis Machines  managed by Alex Gioulekas (pictured) took a big hit while the market neutral Norrsken fund added to recent gains. Coeli´s multi-strategy fund, investing both into underlying Coeli hedge funds as well as in external hedge funds, was down 1.3 percent.

The Coeli Prognosis Machines, which uses quant models and artificial intelligence aiming to benefit from shifts in market sentiment, found itself on the wrong side of the pick-up in risk appetite during the month and was down 6.7%. While the commentary for the month is yet to be published, the manager in last month´s investment letter stated that the program held short exposure to energies while being long the dollar, both trades likely working to the disadvantage of the program in March.

Coeli Norrsken, an event driven market neutral fund, continued its recent positive momentum and gained 2.19% to bring year to date numbers to 3.59%. Norrsken has had a couple of years of sideways development following a strong year in 2013 when the fund returned close to 15%.

The Coeli Multi-Strategy fund was down 1.3% on the month likely suffering from its holdings in Prognosis Machines and the external quant manager IPM who also gave back part of its year-to-date gains in March. Coeli Multi-Strategy remains in positive territory for the year, (+0.6%) following positive numbers in January and February.

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

More Unknowns, More Dispersion in Private Equity

Private credit managers with exposure to software companies recently faced investor withdrawals as concerns mounted over how artificial intelligence could disrupt parts of the...

Private Equity No Longer Optional as Value Creation Moves Behind Closed Doors

As businesses stay private for longer, an increasing share of value creation now happens away from public exchanges, forcing investors to rethink where they...

A Decade of Thematic Private Equity: Summa Equity Sees Stronger Tailwinds Than Ever

While parts of the private equity industry have faced a challenging dealmaking environment in recent years, Nordic mid-market buyout manager Summa Equity has navigated...

Direct Lending Goes Through First Proper Credit Cycle 

After years of explosive growth and strong returns, private credit is facing its first meaningful stress test, particularly within direct lending, which has become...

Beyond Traditional Fixed Income: Why Aegon AM Sees Opportunity Across ABS and CLO Markets

Every day, households borrow money to buy homes, finance cars, pay for education, or fund everyday consumption. These mortgages, auto loans, consumer loans, and...

Financing the Energy Buildout: The Growing Role of Infrastructure Credit

Infrastructure has traditionally been viewed as one of the more defensive corners of private markets, characterized by essential services, stable cash flows, and hard-asset...

Allocator Interviews

In-Depth: Diversification

- Advertisement -

Voices

Request for Proposal

- Advertisement -