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CTAs Lead the Pack into Positive October Performance

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Stockholm (HedgeNordic) – Nordic hedge funds, as expressed by the Nordic Hedge Index – NHX, gained an estimated 1.0% in October (85% reported), extending their year-to-date aggregate gains to 3.3%.

All five NHX sub-categories contributed to the positive performance with CTAs leading the pack gaining close to 4 percent on the month. Although still in negative territory for the year, October marked the best CTA-month since the period around the Brexit vote of last year. Multi-Strategy and Fund of Funds gained around 1 percent and 0.7 percent respectively on the month. Equity strategies advanced 0.3 percent while Fixed Income was marginally positive.

On country level, all countries exhibited positive returns on the month with Finland (+1.9%) and Denmark (+1.1%) ahead of Sweden (+0.9%) and Norway (+0.5%).

CTA funds dominated among winning funds with RPM Galaxy (+13.5%), Estlander Alpha Trend II (+9.1%) and RPM Evolving CTA Fund (+6.8%) topping the charts.

Among losing funds were DNB ECO Aboslute Return (-4.6%), HCP Black Fund (-3.2%) and Nordea 1 Stable Equity Long/Short Fund (-2.3%).

On the year, Rhenman Healthcare Equity L/S, Accendo and HCP Focus Fund have gained the most.

The full report can be accessed below.

Picture (C): MR.LIGHTMAN1975 – 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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