- Advertisement -

Related

Nordic Fixed-Income HFs Steady Ship After February Scare

- Advertisement -

Stockholm (HedgeNordic) – The Fixed Income Sub-Index to the Nordic Hedge Index (NHX) was up by 0.4 percent in April 2018 (96 percent reported), extending the gains for the first four months of 2018 to 0.5 percent. The sub-category in the NHX posted gains for an impressive 25 out of the 28 previous months.

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

Nordic fixed-income hedge funds outperformed their global peers by a small margin last month, but global fixed-income funds are still ahead in this year’s performance race. The Eurekahedge Fixed Income Hedge Fund Index, an equally-weighted index tracking the performance of 342 fixed-income hedge funds, gained only 0.1 percent in April (77 percent reported as of May 24). However, the Eurekahedge index is up 0.7 percent in the first four months of the year, compared to the 0.5 percent gain for the NHX Fixed Income Index.

Two of every three members included in the NHX Fixed Income Index posted positive returns for April. Nykredit EVIRA, a hedge fund that predominantly invests in European corporate bonds, was April’s strongest performer in the fixed-income group of funds with a monthly return of 1.8 percent. The fund, managed by Nicolai Kjer Rasmussen (pictured), though is down 2.3 percent in the first four months of 2018.

Danske Invest Hedge Mortgage Arbitrage gained 1.3 percent last month, ending a five-month run of negative performance. Following the April performance, the fund edged up into positive territory for the year. Asgard Fixed Income Fund, awarded second place in the “Best Nordic Fixed Income Hedge Fund” category at this year’s edition of the Nordic Hedge Award, was up 1.2 percent last month, cutting 2018 losses to 0.1 percent. Asgard Fixed Income Risk Premia, a fixed-income fund managed by Copenhagen-based Moma Advisors A/S, also gained 1.2 percent in April. The fund is down 1.6 percent in the first four months of 2018.

The list of poor performers is led by credit hedge fund Trude, which posted a negative performance for a fourth consecutive month. The fund was down 0.9 percent in April, taking 2018 losses to 2.3 percent. Relative value fund Nykredit MIRA declined 0.8 percent, taking the 2018 performance slightly into negative territory for the year at 0.1 percent.

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 Articles

Elo’s Slow-Moving Hedge Fund Portfolio Built Around Access

Soon after Kari Vatanen joined Finnish pension insurer Elo as Head of Asset Allocation and Alternatives, he praised the team behind the firm’s hedge...

The New Coda: From Intuition to a Unified Investment Process

Peter Andersland is best known in the Nordic hedge fund space as the co-founder of Sector Asset Management, where he remains a shareholder. While...

When Diversification Fails: Qblue’s Case for Alternative Risk Premia

The notion that a traditional 60/40 portfolio offers meaningful diversification has long been questioned by practitioners. When implementing the Total Portfolio Approach at Danish...

Tidan NOVA Profiting from Volatility Skew as Market Participants Seek Protection

Tidan Capital’s evolution into a multi-strategy platform reflects a broader effort to deliver complementary sources of alpha, with its NOVA strategy serving as a...

Extracting Alpha from the Factor Zoo Through Systematic Investing

There are multiple ways to approach equity investing and, ultimately, the pursuit of alpha. While many strategies rely on market direction or discretionary stock...

Apoteket CIO Leans on Hedge Funds for High Sharpe

Gustav Karner, Chief Investment Officer of Apoteket’s Pension Fund since 2017, has delivered one of the highest Sharpe ratios among Sweden’s largest institutional investors,...

Allocator Interviews

In-Depth: Diversification

- Advertisement -

Voices

Request for Proposal

- Advertisement -