- Advertisement -
- Advertisement -

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.

Chart by Visualizer

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.

Chart by Visualizer
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

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...