Nordic hedge funds build on momentum in April

Stockholm (HedgeNordic) – Nordic hedge funds, as expressed by the Nordic Hedge Index NHX, gained an estimated 0.57% in April (93% reported), bringing the year-to-date performance to 2.18%. This was the 10th consecutive monthly gain for the index.

The month was characterized by a positive sentiment overall for Nordic hedge funds with all NHX sub-categories but one showing positive returns. Equity and fixed income strategies performed particularly well with gains of 0.95% and 0.75% respectively. NHX CTA was the only category in negative territory by month-end showing a net loss of -0.25% and is also the only sub-strategy showing negative returns year-to-date (-2.28%).

Among individual winners, the Gamma Iceland Opportunity Fund gained 5.1% on the month, closely followed by IPM Systematic Currency and HCP Focus with gains of 4.7% and 4.6% respectively. Other funds standing out from the crowd in April included Inside Hedge (+4.48%, Mjeltevik Invest (+4.23%) and PriorNilsson Idea (+4.18%).

Among negative performers during the month, the Minastir Currency Fund posted losses of 5.32% while the Gramont Equity Opportunities Fund (-4.1%) and the Alfa Axiom Fund (-4.03%) added to recent losses.

The full monthly review can be accessed below:

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Picture (c): Denphumi-shutterstock.com




About Author

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

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