Stockholm (HedgeNordic) – Brummer Multi-Strategy, a fund of funds investing in the single-strategy hedge funds within the Brummer & Partners family, returned 6.4% net-of-fees in 2017, recording its second-best yearly performance since 2009. Six of the eight underlying funds delivered positive returns last year, with long/short strategies contributing the most to performance.
Brummer Multi-Strategy clinched the title of the best-performing fund of funds within the 23-member NHX Fund of Funds Index despite suffering a 0.9% loss in December. Brummer-backed long-short equity strategies performed strongly last year, with tech-focused equity hedge fund Manticore delivering an annual return of 34.4%. Black-and-White Innovation Fund, another long/short equity hedge fund seeking investment opportunities in technology, media, and telecommunications (TMT) sectors, gained 12.2% last year. Fellow long/short equity fund Bodenholm, a member of the NHX family of funds, also performed strongly in 2017, returning 12.3% for the year.
In a video interview published on Brummer’s website, Mikael Spångberg, the portfolio manager and managing director of Brummer Multi-Strategy, discusses the 2017 performance of the fund he oversees. He also touches upon other subjects such as the possible backing of other fund managers in 2018.
The video can be viewed here: Brummer Multi-Strategy Interview