Summer Additions to the Nordic Hedge Index

Stockholm (HedgeNordic) – Three hedge funds have been added to the Nordic Hedge Index (NHX) since the start of the summer, bringing the NHX fund universe to a total of 155 funds. The new additions coincided with the delisting of several funds such as Indecap Prisma and Guide Multihedge, funds liquidated during the second quarter of 2017. Brief introductions to the newly-added funds are presented below.

Alfa Sigma Opportunities

Alfa Sigma Opportunities employs a short-term model-driven trading strategy focused on global options and futures. The track record of the hedge fund’s strategy, originally called Sigma Opportunities, dates back to November 2014, with the strategy having been run in a managed account until June 2017. The portfolio managers of the original Sigma Opportunities, Daniel Dahlin and Oscar Hakenäs, took control of an existing licensed AIF fund named Alfa Saga Fund on the 5^th of June this year, renamed the fund into Alfa Sigma Opportunities, and started managing the strategy of Sigma Opportunities via the newly-acquired fund. The hedge fund’s positions have an average holding period of 5 to 10 days, with the short time frame for trading reducing volatility and downside risk. The Sigma Opportunities strategy is designed to generate consistent returns with controlled volatility instead of periodically enlarged profits.

Zmart Alfa

Zmart Alfa is a market-neutral hedge fund, under the umbrella of Zmartic Fonder AB, that invests at least 90% of its capital in equities and equity-related financial instruments. The fund strives to generate positive returns regardless of market conditions by evenly distributing capital across at least 50 holdings. Anders Lekholm, with 20 years of experience in the finance industry, has been at the helm of Zmart Alfa since the fund’s inception in March 2015. Lekholm previously served as the portfolio manager of one the five buffer funds within the Swedish pension system (i.e. AP2), as well as worked at Bear Stearns and Merrill Lynch in the United States. Zmart Alfa targets an annual return of 4-8% net of fees, with the fund’s gross market exposure limited at 200% of net assets.

Caba Capital

Caba Capital is a freshly-launched hedge fund investing in the yield spread between Danish and Swedish mortgage and government bonds. The fund raised around DKK 107 million from institutional and private investors at the beginning of July. Caba Capital is managed by Carsten Bach, a former investment manager of Danske Bank, and former chief executive of the asset management unit of Danske Bank, Niels-Ulrik Mousten. The fund’s objective is to generate annual returns of 8% with low volatility and minimal correlation to equities and bonds. “At Danske we delivered higher returns than this, but at present I will not promise more than what I am convinced I can keep,” Carsten Bach recently told Danish financial daily Børsen.