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Nordic hedge funds negative in June, CTAs continued to weigh

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Stockholm (HedgeNordic) – Nordic hedge funds, as expressed by the Nordic Hedge Index NHX, lost an estimated 0.5% in June (90% reported), bringing the year-to-date performance to 1.5%.

The month showed mixed performance across sub-strategies with CTAs again underperforming posting a loss of 3.1% (-5.9% YTD) while fixed income strategies continued to shine gaining an addtional 0.6% and thereby enhancing its position as the best performing strategy on the year (+5.3%). Among the other strategy groups, equity and fund of funds lost 0.3% and 0.6% respectively while multi-strategy funds were more or less flat.

Among individual winners, the healthcare-focused long/short equity fund from Rhenman and Partners, Rhenman Healthcare Equity L/S, bounced back from the losses experienced in May and added 9.8% on the month. Max Mitteregger´s Gladiator fund continued to shine as the manager added 3.6% marking the eighth consecutive month of gains. The fund is up 12% on the year, adding to a 14.5% gain in 2016.

The month´s losing funds were entirely dominated by the CTA category with industry giant Lynx posting one of its worst month since inception (-6.9%). Estlander Alpha Trend II (-6.9%) and the RPM Evolving CTA Fund (-6.7%) were other notable losers during the month.

The full monthly report can be accessed below:

 

Picture (c): wongwean-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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