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Nordic hedge funds flat in May, Accendo and Brummer among winners

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This year’s Alternative Fixed Income report from HedgeNordic explores how institutional investors and asset managers are navigating this new reality, balancing yield and resilience amid shifting credit cycles, structural change, and evolving sources of return.

Stockholm (HedgeNordic) – Nordic hedge funds, as expressed by the Nordic Hedge Index NHX, lost an estimated 0.06% in May (85% reported), bringing the year-to-date performance to 2.1%.

The month was characterized by a disparity of returns between the strategy groups underlying the NHX Index. While CTAs in particular continued to weigh on performance, losing another 0.96% to bring year-to-date losses to -3.22%, fixed income strategies again outperformed with gains of 0.53%, epanding the lead for the year with gains of 4.51%. Other strategies showed small changes; Equities (+0.03%), Multi Strategy (-0.17%) and Fund of Funds (-0.02%).

Among individual winners, the activist hedge fund Accendo regained the first spot as best performer on the year (+13.8%) by adding 4.8% on the month. The Brummer & Partners group had its best month for a long time with the Brummer Multi Strategy 2XL adding 4.1%. Max Mitteregger’s Gladiator fund was another strong performer with a monthly gain of 3,7%.

Estlander & Partners Alpha Trend II (-9.8%) and Rhenman and Partners, Rhenman Healthcare Equity L/S (-9.0%) stood out among the month´s losers.

The full report can be accessed below:

Picture (C): isak55 – shutterstock.com

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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

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