Stockholm (HedgeNordic) – The Swedish hedge fund giant Brummer & Partners have been struggling during 2016, with negative numbers every month for their flagship fund Brummer Multi-Strategy (BMS) up until June. A struggle that has taken it’s toll on their reputation. BMS has had negative monthly returns since August 2015 (except for Nov-Dec 2015) and continued on the negative path this year.
In June they where saved by the bell and managed to recover +2,28%, with two of the “old timers” within the group – Lynx and Manticore – delivering strong results. The CTA manager Lynx made a significant recovery during the month, +10,23%, after three consecutive months with negative returns, moving their full year number to +10,0%. The US based tech manager Manticore also had a very good month, delivering +4,68%, however still in negative territory for the full year at -4,15%.
For 2016, BMS is still in the red, with -1,58% for the full year.