- Advertisement -

Related

Nordic hedge funds gain in August, CTAs continue rebound

- Advertisement -

Stockholm (HedgeNordic) – Nordic hedge funds, as expressed by the Nordic Hedge Index NHX, gained an estimated 0.17% in August (83% reported), bringing the year-to-date performance to 1.68%.

The month showed overall solid performance numbers, with CTAs continuing its rebound from July to finish August 0.98% higher. The strategy was the best performer on the month but is still lagging other strategies year-to-date (-2.68%). Fixed income strategies remained positive with a progress of 0.33% on the month, adding to its position as the best performing strategy on the year (+6.06%). Elsewhere, multi-strategy and fund of funds were slightly up with gains of 0.05% and 0.10% respectively. Equity strategies ended the month marginally lower to finish August down 0.1%.

Among individual winners, the Finnish activist hedge fund Accendo Capital rebounded strongly from losses seen in July with net gains of 8.9% (+19.15% YTD). Another strong rebounder was systematic trend follower Lynx with gains of 5.1% (-6.63% YTD), Lynx has been struggling in the first half of 2017 but in August, reemerging trends in bonds (lower interest rates), commodities (higher gold, aluminum and copper prices) and currencies (weaker dollar) supported a significant bounce-back. The short-term CTA program from Estlander & Partners, Presto, continued its recent run gaining 5.15% in August. Among sector specialists, Shepherd Power Series, added 6,13%. The fund focuses on the Nordic power market using a trend following strategy.

Among losing funds, Norron Select (-3.86%), Taiga (-2.65%) and the AAM Absolute Return Fund (-2.54%) all struggled during the month. In the case of AAM, the fund is now among the biggest losers for the year with a net loss of 11.95%, which means the Oslo-based asset manager has given back the gains made in 2016.

Full monthly report to be accessed below:

Picture (c): kentoh-shutterstock.com

 

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

Historic Small-Cap Discount Offers Long-Term Opportunity, Not a Timing Signal

Small caps are trading at a historically wide valuation discount to large caps, creating a potentially attractive long-term opportunity even as the valuation gap...

Europe’s Sovereignty Push Could Benefit Small & Mid-Caps

European small and mid-cap equities are entering a potentially more constructive phase as Europe’s push for economic and strategic sovereignty coincides with improving domestic...

Taiga’s Long/Short Playbook for Nordic Small Caps

A first-time investor looking at the roughly 6 percent cumulative return from Nordic equities over the past two years could be forgiven for looking...

AI Has Changed the Small-Cap Equation

The AI-driven rally in mega-cap stocks has widened the performance gap between large and small caps, leaving smaller companies trailing across global equity markets....

Simplicity Completes Norron Deal

Three months after announcing the deal, Swedish asset manager Simplicity has completed its acquisition of Norron’s fund management business, taking over the management of...

Rethinking the 60/40 Portfolio

The 60/40 portfolio remains one of investing’s most recognizable conventions, even where few institutional portfolios literally consist of 60 percent equities and 40 percent...

Allocator Interviews

- Advertisement -

Voices

Request for Proposal

- Advertisement -