- Advertisement -
- Advertisement -

Nordic Fixed-Income Hedge Funds Trying to Steady Ship in March

- Advertisement -

Stockholm (HedgeNordic) – Nordic fixed-income hedge funds, as measured by the NHX Fixed Income Index, gained 0.1 percent in March, taking the performance for the first quarter of 2018 back into positive territory at 0.1 percent. Nordic fixed-income strategies as a group lost 0.5 percent in February, putting an end to a 23-month streak of positive performance.

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

In contrast to their Nordic peers, global fixed-income hedge funds recorded losses for a second consecutive month in March. The Eurekahedge Fixed Income Hedge Fund Index, an equally-weighted index of 320 fixed-income hedge funds, was down 0.1 percent in March, bringing the performance for 2018 down to 0.6 percent.

Around 44 percent of the 25-member NHX Fixed Income Index enjoyed positive performance in March. Nykredit MIRA Hedge Fund, awarded the top prize in the fixed-income category at this year’s HFMWeek European Hedge Fund Performance Awards, was the biggest gainer among Nordic fixed-income hedge funds in March. The fund gained 4.9 percent for the month, recouping the losses incurred in the first two months of the year (up 0.7 percent in Q1).

Source: HedgeNordic.

Danish fixed-income arbitrage fund CABA Hedge was up 3.5 percent in March, taking its performance for the first quarter back into positive territory (up 0.3 percent in Q1). Formuepleje Fokus, which mainly invests in Danish mortgage bonds, gained 1.9 percent in March (down 0.1 percent in Q1).

Three young fixed-income hedge fund dominated March’s list of underperformers. Nykredit EVIRA Hedge Fund was down 2.7 percent in March, extending its losses for the first quarter to 4.0 percent. Asgard Fixed Income Risk Premia and Asgard Credit Fund, winner of this year’s Rookie award, were both down 1.4 percent in March (down 2.8 percent and 3.3 percent in Q1).

Source: HedgeNordic.

Picture ©: Romolo-Tavani—shutterstock.com


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


Most Popular This Week

Request for Proposal

- Advertisement -

Latest Articles

Round Table: ETFs & Asset Management

Stockholm (HedgeNordic) – At a round table discussion that took place in Stockholm on October 17, asset managers and ETF providers discussed and answered...

Nordic Managers Win EuroHedge Nominations

Stockholm (HedgeNordic) – With Intelligence has released the first round of nominations for the EuroHedge Awards 2022, with the list featuring seven Nordic hedge...

Expected 75 Point Hike in Riksbank Rate

Stockholm (HedgeNordic) – Sweden’s Riksbank raised the key interest rate by an expected 75 basis points to 2.5 percent, the highest level since 2008....

The Age of Macro is Back

Stockholm (HedgeNordic) – In recent years, fixed-income macro managers such as Carlsson Norén have struggled to deliver attractive absolute returns in a low-volatility environment...

Man AHL Launches its First Systematic Article 9 Fund

Stockholm (HedgeNordic) – Man Group’s quantitative investment arm and engine, Man AHL, has launched the asset manager’s first systematic Article 9 fund. Relying on...

Corporate Bonds are Very Attractive Finds Atlant Fonder

Stockholm (HedgeNordic) – This year’s broad sell-off in the bond market due to aggressive monetary tightening in the fight against inflation may have investors...