- Advertisement -
- Advertisement -

Related

RGO L/S Initiates Short Amazon Position in First Month

Latest Report

- Advertisement -

Stockholm (HedgeNordic) – The newly launched Rhenman Global Opportunities L/S recorded a net gain of 0,1 per cent in its first month of trading since launching the fund on August 31.

In a comment, portfolio manager Staffan Knafve (pictured) writes that the fund benefited from its exposure to industrial and commodity companies while suffering from exposures to banks and automative manufacturers.

The banking sector came under pressure during the month following two consecutive months of gains, the main reason being the problems surrounding Deutsche Bank, Knafve writes.

“After two months of rising share prices the banking sector in September once again was the weakest. In Europe, the major German bank Deutsche Bank, already under considerable pressure, was hit by a claim for USD 14 bn from the American Department of Justice for its involvement in the mortgage market in the United States ten years ago. This amount corresponds to nearly the Bank’s market capitalization. As one of the world’s 30 so-called ‘systemically important’ banks this created turmoil in the banking sector and thereby stock markets as a whole.”

The fund´s long positions had a net positive contribution during the month adding 0.3% to overall performance, short positions weighed on performance detracting 0.2%.

The fund’s best contributors were commodity conglomerate Glencore, the telecommunications company Qualcomm and Japanese beverage producer Asahi.

The worst contributors over the month were Wells Fargo & Co, Amazon and Volkswagen. In the case of Amazon, the fund has initiated a short position.

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

Pasi Havia Bids Farewell to HCP, Quant Strategy Carries On

After more than a decade at Helsinki Capital Partners (HCP), portfolio manager Pasi Havia has stepped down from his role, leaving behind the management...

Fresh Talent, New Funds: ALCUR Expands Reach in Retail Segment

After a wave of portfolio manager hires earlier this year, stock-picking fund boutique ALCUR Fonder is preparing to launch several new funds aimed at...

Quirky Questions for Kathryn Kaminski (AlphaSimplex)

Not every hedge fund conversation needs to revolve around performance charts or trade execution. In HedgeNordic’s Quirky Questions series, we look beyond the strategies to the...

Active Decisions in Passive Wrappers: Othania on ETF Innovation

Founded in early 2016 by brothers Vincent Dilling-Larsen and Christian Mørup-Larsen, Danish fund boutique Othania built its foundation on a proprietary risk model, “Tiger,”...

Rettig Appoints Crescit Manager to Oversee Hedge Fund Strategies

Simon Borgefors has joined Finnish family-owned investment company Rettig as Investment Director for hedge fund strategies in Stockholm, leaving Swedish hedge fund boutique Crescit...

€5m Ticket to Nordic High Yield From German Family Office

A German family office plans an initial €5 million commitment to a UCITS‑compliant Nordic high‑yield fund, with capacity to scale over time. According to...

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.