- Advertisement -

Related

Nordic FI Hedge Funds down in June

- Advertisement -

Stockholm (HedgeNordic) – Nordic fixed-income hedge funds, as expressed by the NHX Fixed Income Index, fell 0.1 percent in June (93 percent reported), booking mild losses for the second consecutive month. The NHX Fixed Income Index gained 0.3 percent in the first half of 2018.

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

Similar to their Nordic peers, international fixed-income hedge funds also suffered tight losses last month. The Eurokahedge Fixed Income Hedge Fund Index, comprised of 340 members, fell 0.1 percent in June (59 percent reported), ending the first half of the year with a gain of 0.3 percent. The HFN Fixed Income Index (non-arbitrage), which tracks the performance of fixed-income vehicles in the eVestment hedge fund database, was down 0.5 percent last month, finishing the first six months of the year in positive territory at 0.5 percent.

One in every three members of the NHX Fixed Income Index produced positive returns in June, with last year’s best-performing fixed-income fund within the NHX, Nykredit MIRA Hedge Fund, posting the biggest gain in June. (Nykredit fixed income team pictured). The relative-value hedge fund investing in Danish mortgage bonds gained 1.5 percent last month, moving further into positive territory for the year at 2.0 percent.

Scandinavian Credit Fund I, an alternative investment fund offering direct loans to small- and medium-sized companies, delivered a positive monthly return for the 29th consecutive month after gaining 0.9 percent in June. The fund gained 3.8 percent in the first half of 2018. CABA Hedge, Danske Invest Fixed Income Macro Hedge, and HP Hedge all gained 0.6 percent last month.

Nykredit EVIRA, which seeks to exploit interest rate spreads between corporate bonds and interest rate hedging instruments, tumbled 4.1 percent in June after suffering a monthly loss of 5.2 percent in May. The Nykredit fund recovered some lost ground in the first half of July after having lost 11.1 percent in the first half of 2018. Nykredit EVIRA gained 5.0 percent this month through the beginning of this week. Danske Invest Fixed Income Relative Value and KLP Alfa Global Rente were down 0.8 percent and 0.6 percent in June, correspondingly.

*June performance figures not reported.

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

Maybe CTA Alpha is Simpler Than You Think: Evidence from the ETF Space

By Andrew Beer, Co-Founder of DBi: Managers of CTA hedge funds and mutual funds often argue that complexity leads to higher alpha generation. After all, why...

Lynx Marches Through March Mayhem

March was defined by a sharp escalation in geopolitical tensions, particularly involving the U.S., Israel, and Iran, creating a highly challenging environment for most investment...

Mixed March for Managed Futures

A sharp escalation in geopolitical tensions set the tone for March, as the US and Israel’s attacks on Iran triggered significant cross-asset volatility. In...

Stop Making Room for Managed Futures

By Corey Hoffstein, Co-Founder, CEO and CIO at Newfound Research: The case for managed futures as a portfolio diversifier is well established. During the...

Othania Positions Trend-Following at the Core of Multi-Asset Portfolios

Not many investors in the Nordics explicitly allocate to trend-following strategies, yet those who do often regard them as an essential building block in...

Muddling Through the Mess: Managed Futures ETFs

By Alexander Mende and Per Ivarsson at RPM Risk & Portfolio Management: Traditionally, Managed Futures (MF) strategies have been limited to hedge funds known...

Allocator Interviews

In-Depth: Diversification

- Advertisement -

Voices

Request for Proposal

- Advertisement -