- Advertisement -
- Advertisement -

NHX Multi-Strategy Funds Give up Gains in June

- Advertisement -

Stockholm (HedgeNordic) – Nordic multi-strategy hedge funds fell 0.5 percent on average in June (89 percent reported), with the group lagging the other four categories of hedge funds within the Nordic Hedge Index (NHX). The NHX Multi-Strategy Index, the most diverse and inclusive NHX sub-category, gained 0.4 percent in the first half of 2018.

Speedometer: The June performance of the NHX Multi-Strategy Index relative to its best and worst monthly performance since 2005 (Source: HedgeNordic).

In line with the performance delivered by their Nordic peers, international multi-strategy hedge funds also struggled in June. The Eurekahedge Multi-Strategy Hedge Fund Index, which reflects the performance of a pool of 269 multi-strategy hedge funds, was down 0.3 percent last month (54 percent reported). The Eurekahedge index ended the first half of 2018 in negative territory at down 0.2 percent. The HFN Multi-Strategy Index, comprised of multi-strategy funds within eVestment’s database of hedge funds, fell 0.4 percent in June, taking the performance for the first six months of the year further into negative territory at 0.7 percent. The Barclay Multi Strategy Index, meanwhile, declined an estimated 0.5 percent in June, with the preliminary performance calculated with reported data from 59 funds. The Barclay index is down 0.4 percent year-to-date through the end of June.

Chart by Visualizer

Only four of the 36 members of the NHX Multi-Strategy Index produced positive returns in June. Despite being positioned for a stock market decline in a slightly rising market last month, market-neutral funds Atlant Stability Offensiv and Atlant Opportunity were June’s best performers among the multi-strategy hedge funds included in the NHX with monthly gains of 0.4 percent and 0.3 percent, respectively. Both funds are up 3.6 percent in the first half of 2018. Evli Factor Premia, which uses systematic market-neutral factor strategies within several asset classes, recovered some lost ground in June with a gain of 0.2 percent, after losses in January, February, and May. The fund is down 6.7 percent so far in 2018.

VISIO Allocator Fund, awarded the “Best Nordic Multi Strategy Hedge Fund” at our last Nordic Hedge Award, fell 2.1 percent in June, taking the performance for the year further into negative territory to -2.7 percent. Danske Invest Global Cross Asset Volatility, a freshly launched hedge fund that seeks exposure to volatility risk premia embedded in equities, fixed income, credit and currencies, booked a 1.8 percent loss in its first month of operations. Ambrosia L lost 1.7 percent in June, ending the first half of 2018 with a loss of 4.2 percent.

Chart by Visualizer

 

Picture: (c) shutterstock.com—archerix

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

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...

Latest

Most Popular This Week

Voices

Request for Proposal

- Advertisement -