- Advertisement -
- Advertisement -

Related

Nordic FI Hedge Funds down in June

Latest Report

This year’s Alternative Fixed Income report from HedgeNordic explores how institutional investors and asset managers are navigating this new reality, balancing yield and resilience amid shifting credit cycles, structural change, and evolving sources of return.

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

Breaking the Mold: Gesda’s Concentrated and Thematic Approach

Few investors are surprised anymore that most actively managed equity funds underperform their passive benchmarks. Yet, that doesn’t mean active management has lost its...

Three-Year Anniversaries for Two PriorNilsson Funds

Two funds at stock-picking boutique PriorNilsson Fonder recently marked their three-year anniversaries, including the real estate-focused, long-biased long/short equity fund PriorNilsson Fastighet. Despite a...

Confluence Marks Next Step in Tidan Capital’s Evolution

Stockholm-based fund boutique Tidan Capital has officially launched its multi-strategy fund vehicle, Confluence, with the strategy now overseeing $265 million across fund and separately...

Trend-Followers Stay the Course in October

The CTA sub-index of the Nordic Hedge Index advanced for a second consecutive month in October, supported by continued trends in precious metals and...

From Exclusive to Accessible: Coeli Listed Real Estate

In the summer of 2024, Swedish asset manager Coeli partnered with real estate specialist Peter Norhammar and NRP Anaxo Management to launch a concentrated...

Strong Earnings Drive Norron Select Higher in October

Mid-to-late October is always a busy earnings season for public companies and, by extension, for stock-picking managers. For long/short equity fund Norron Select, a...

Allocator Interviews

In-Depth: High Yield

- Advertisement -

Voices

Request for Proposal

- Advertisement -
HedgeNordic
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.