- Advertisement -
- Advertisement -

Nordic Hedge Funds Suffer Losses in February – CTA and Equity Strategies slump

- Advertisement -

Stockholm (HedgeNordic) – February proved to be a challenging month for a majority of the Nordic hedge funds underlying the Nordic Hedge Fund Index – NHX. With 75 percent of managers having reported their numbers for the month, the index suggest a loss of 1.5 percent, which is in line with the Barclay Hedge Fund Index but better than the HFRX global hedge fund index which shed 2.4 percent during the period. The year-to date figure for NHX stands at -0.7 percent.

Among the worst performing strategies were CTAs, a strategy that was hit hard by the trend reversals seen in connection with the volatility spike on February 5. On this day,  the VIX-index spiked by more than 100 perceent  creating a market turmoil that was difficult for quant strategies to handle (see separate HedgeNordic article on trend following losses in February). The Nordic funds that were hit the hardest include RPM Galaxy (-17.5%), Lynx (-14.1%), Alfa Sigma Opportunities (-11.3%) and Runestone Capital (-10.0%).

Quantitative macro strategies, however, did relatively well on the month, presumably as a result of them relying on relative trades rather than outright momentum-driven ones. IPM Systematic Macro and Aktie-Ansvar Quanthedge were among the month´s winners with gains of 4.9% and 5.5% respectively.

Equity markets slumped in the first half of the month but recovered strongly in the secod half. Nordic equity-focused hedge funds however showed dismal performance numbers overall with the NHX equity index being down close to 1 percent. Among losing funds, DNB Eco Absolute Return, HCP Quant, Inside Hedge, Origo Quest 1 and Atlant Sharp Europe, all posted losses in the range of 4-6 percent.

The NHX Multi-Strategy Index, encompassing a wide variety of strategies, lost an estimated 0,9 percent on the month. SEB Diversified, Evli Factor Premia and Visio Allocator were among the losing funds.

In the fixed income space, returns were widely dispersed, with the NHX losing 0.6 percent on the month. Winners included KLP Global Rente, Scandinavian Credit Fund and Danske Invest Fixed Income Relative Value while on the losing end, CABA Hedge suffered its worst month since inception last year.

Among fund of funds, typically being late to report numbers, the indicative performance number stood at -0.4 percent.

The table below summarizes the Nordic hedge fund industry winners in February as well as for the year, we will get back with our regular monthly review once we have the full data set reported.


Source: HedgeNordic


Picture (c): Sergey-Nivens—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

AT1 Bond Wipeout: Not the Default Mode of Resolutions

Stockholm (HedgeNordic) – As part of the takeover of Credit Suisse by UBS, Swiss financial regulator FINMA instructed the credit-stricken bank to write down...

P+ CEO Sørensen Announces Retirement

Stockholm (HedgeNordic) – After more than 21 years of overseeing pension fund management, Søren Kolbye Sørensen has announced his retirement from his role as...

The Hedge Fund Cure for Apoteket’s Pension Fund

Stockholm (HedgeNordic) – 2022 was one of the toughest years in recent memory for institutional investors, as the global economy and financial markets faced...

Sissener and Nordea’s Alpha Win UCITS Awards

Stockholm (HedgeNordic) – The Hedge Fund Journal, a monthly magazine focusing on the global hedge fund industry, has published the list of winners at...

Hedge Fund Exposure Pays Off for University Endowment

Stockholm (HedgeNordic) – The endowment fund of Aalto University in Finland edged down 3.5 percent after all fees and costs in 2022 during what...

Banking Turmoil as Buying Opportunity for Utbytte

Stockholm (HedgeNordic) – On Friday March 10, Silicon Valley Bank failed and was taken over by federal regulators after a run on deposits, as...


Most Popular This Week


Request for Proposal

- Advertisement -