- Advertisement -
- Advertisement -

Related

Lynx extends worst drawdown since inception following June setback

Latest Report

- Advertisement -

Stockholm (HedgeNordic) – Swedish CTA giant Lynx, headed by CEO and founding partner Svante Bergström (pictured), posted one of its worst monthly losses since inception in June (only 5 months have been worse according to HedgeNordic data) as the high profiled trend follower gave back 6.9%, bringing year-to-date performance to -13.2% for its flagship fund. This means that the fund is on track for its worst year since the fund launched in May 2000.

In comparison, HedgeNordic’s Index of Nordic CTA managers, NHX CTA, posted a net loss of 3.1% in June, ending the first half of 2017 down 5.9%. The SG CTA Index, a leading global benchmark for the CTA industry, lost 3.4% during the month and is down 3.5% for the year.

In a comment, Lynx writes that a large part of the losses occurred during the second half of the month as markets turned against the fund’s positions in equities (long), bonds (long), commodities (long) and the US dollar (long). Trend models suffered the most and were down 5.6% by the end of the month. Diversifying strategies also suffered, albeit to a lesser extent being down 1.4%.

The recent negative run for Lynx has erased the gains made by the manager in 2014 when the program had a very strong showing adding approximately 27%, leading the Lynx fund to peak in March 2015. Since then, performance has been depressed by a generally difficult trading environment for quantitative trend following strategies.

Source: HedgeNordic

The recent weak performance has made Lynx enter into its worst period on record considering drawdown characteristics (see chart below). Since the peak  in March 2015, the Lynx fund has lost approximately 30%. A mid-month estimate however suggests that the fund has recovered 0.67% so far in July (as of July 14).

Source: Calculation based on HedgeNordic data

Prior to the June performance setback, Lynx managed above 50 billion SEK in total client assets. This marks a significant increase in recent years as the quantitative asset manager managed 32 billion SEK by the end of 2013. Lynx’s assets under management stood at 45.2 billion SEK by the end of June 2017.

 

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

Double Win for Accendo

Activist investor Accendo Capital maintains a concentrated portfolio of six holdings, making its overall performance highly sensitive to developments within individual investments. The fund delivered...

Crypto Climbs, Copper Crumbles: A Mixed July for Nordic CTAs

The NHX CTA Index posted another monthly gain in July 2025, as steady profits in soft commodities and equity indices managed to offset balance...

Strong Five-Year Run Fuels Excalibur’s Return to SEK 1 Billion AUM

Excalibur Fixed Income has regained the SEK 1 billion mark in assets under management for the first time since 2019, driven by a strong...

Quirky Questions for Dr. Alexander Mende (RPM)

Not every conversation in the hedge fund world needs to revolve around trend signals, Sharpe ratios, or manager due diligence. In HedgeNordic’s ongoing Quirky...

Elementa Tops Swedish Hedge Fund Universe in H1

After celebrating its ten-year anniversary in March, long/short equity fund Elementa closed the first half of 2025 as the best-performing Swedish hedge fund, delivering...

Asgard Winds Down Macro Strategy, Refocuses on Fixed Income

Less than a year after the launch of Asgard-Steno Global Macro Fund – a collaborative effort between macro strategist Andreas Steno Larsen and fixed-income...

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.