- Advertisement -
- Advertisement -

Recovery from February Woes Postponed for Nordic CTAs

- Advertisement -

Stockholm (HedgeNordic) – The spell of bad luck continued for Nordic CTAs in March, after having suffered their worst month on record in February. Nordic trend-following CTAs, as measured by the NHX CTA Index, were down 0.6 percent in March (95 percent reported), bringing the performance for the first quarter of the year to a negative 2.4 percent.

Speedometer: The March performance of the NHX CTA Index relative to its best and worst monthly performance since 2005 (Source: HedgeNordic).

The world’s largest global CTA programs performed slightly better than Nordic players in March, with the Barclay BTOP50 Index advancing an estimated 0.2 percent. The Barclay index tracks the performance of the 20 largest investable trading advisor programs, which collectively account for no less than 50% of the investable assets of the Barclay universe of CTA funds in any given year. Meanwhile, theSociété Générale CTA Index, which reflects the performance of the 20 largest CTAs by assets under management in the SG CTA database, was down 0.1 percent in March.

There was an almost equal number of winners and losers in the pool of Nordic CTA funds in March, with power investment fund Shepherd Energy Portfolio topping the list of best performers. Shepherd Energy Portfolio, which trades in Nordic power markets, gained 3.2 percent in March, bringing the 2018 performance to 4.0 percent.

IPM Systematic Macro Fund and MG Commodity closely followed suit, both returning 2.1 percent over the month. The systematic macro fund managed by IPM Informed Portfolio Management AB was up 5.1 percent in the first three months of 2018. Meanwhile, Helsinki-based MG Commodity gained 11.1 percent thus far in 2018, making it the best-performing Nordic CTA so far this year.

Source: HedgeNordic.

Alfa Axiom Fund, which seeks to generate high risk-adjusted returns by trading futures contracts on regulated markets, was down 6.9 percent in March, erasing all the gains accumulated in the first two months of the year (down 1.3 percent year-to-date). Nordea 1 – Heracles Long/Short MI Fund tumbled 5.2 percent last month, extending the 2018 losses to 9.1 percent. SEB Asset Selection and SEB Asset Selection Opportunistic, the leveraged version of the former fund, were down 2.0 percent and 3.5 percent, respectively (down 3.8 percent and 7.8 percent year-to-date). Artificial intelligence-driven Coeli Prognosis Machines lost 2.9 percent last month, which takes the first quarter performance down to -11.4 percent.

Source: HedgeNordic.

Picture: (c) Rawpixel.com—shutterstock.com

close

Subscribe to HedgeBrev, HedgeNordic’s weekly newsletter, and never miss the latest news!

Our newsletter is sent once a week, every Friday.

Eugeniu Guzun
Eugeniu Guzun
Eugeniu Guzun serves as a data analyst responsible for maintaining and gatekeeping the Nordic Hedge Index, and as a journalist covering the Nordic hedge fund industry for HedgeNordic. Eugeniu completed his Master’s degree at the Stockholm School of Economics in 2018. Write to Eugeniu Guzun at eugene@hedgenordic.com

Latest

Most Popular This Week

Voices

Request for Proposal

- Advertisement -

Latest Articles

Brummer Multi-Strategy Navigates 2022’s “Perfect” Storm

Stockholm (HedgeNordic) – 2022 experienced a “perfect” inflation storm due to an unprecedented amount of monetary and fiscal policy stimulus during the pandemic, war,...

Dream Comes True for Grönblom

Stockholm (HedgeNordic) – Ernst Grönblom had been running his high-conviction strategy of cherry-picking the stock market’s undervalued future winners under the umbrella of United...

Boarding the Broader Alternatives Ship

Stockholm (HedgeNordic) – Tore Davidsen, portfolio manager of SEB Eureka Fixed Income Relative Value since its launch in 2018, will join BankInvest as Senior...

Year of Stabilization of Interest Rates

By Kari Vatanen, CIO of Veritas: The year 2022 was a year of negative surprises in the investment markets and in the global economy. Hopes...

Playing Offense in the Net-Zero Transition

Stockholm (HedgeNordic) – The world’s adoption of cleaner energy had been ongoing prior to Russia unleashing war in Ukraine. The war and its consequences...

Resscapital’s Key Appointment in Pursuit of Awareness

Stockholm (HedgeNordic) – To capitalise on strong performance and continued asset growth in 2022, Resscapital made a key appointment to its investor sales and relations...