- Advertisement -

Related

Nordic CTAs Extend Losses

- Advertisement -

Stockholm (HedgeNordic) – Following the slight performance boost in June, Nordic CTA funds as a group suffered losses in July. The Nordic CTA Index was down 0.7 percent last month (91 percent reported), extending year-to-date losses through July to an ugly 3.0 percent.

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

Nordic CTAs performed largely in line with the largest international CTA indices last month. The Société Générale CTA Index, for example, fell 0.7 percent in July, taking the year-to-date performance through the end of July to down 5.3 percent. The SG CTA Index reflects the performance of the 20 largest CTAs by assets under management. The Barclay BTOP50 Index, which tracks the performance of the 20 largest investable CTA programs, was down 0.5 percent, bringing the performance for the first seven months of 2018 to a negative 4.2 percent. The broader Barclay CTA Index, however, gained 0.2 percent in July, cutting year-to-date losses to 2.0 percent. The index reflects the performance of all CTA programs in the database maintained by BarclayHedge. In general, profits came from long positions in equities and short positions in precious metals, whereas losses were derived from positions in currencies, fixed income and energies.

Most members of the NHX CTA Index incurred losses in July, with only five of the 21 NHX sub-category’s members posting positive performance. Aktie-Ansvar Trendhedge, which employs a systematic trend-following strategy, was the biggest gainer among Nordic CTAs last month, ending a five-month run of negative performance. The fund gained 1.5 percent in July, recouping a portion of their year-to-date losses. Innolab Capital Index A/S, an alternative investment fund run by artificial intelligence, was up 1.3 percent last month.

Alfa Axiom Fund, a trend-following CTA fund that booked a 10.2 percent gain in June (read more details), was down 3.4 percent in the subsequent month. The fund is up 1.6 percent in the first seven months of 2018. Estlander & Partners Presto and RPM Galaxy were down 2.8 percent and 2.0 percent in July, respectively.

 

Picture: (c) Rawpixel.com—shutterstock

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

Beyond 60/40, Part II: The Fourth Building Block

By Alexandra McGuigan, Head of APAC, Qblue Balanced: Over the past year, pension funds, sovereign investors and family offices across Asia-Pacific and Europe have...

Tidan Capital Adds Luca Moro as Senior Portfolio Strategist

Stockholm-based boutique Tidan Capital has appointed Luca Moro as Senior Portfolio Strategist, strengthening the team led by founders and portfolio managers Michael Falken and...

Axel Ekros: From Elite Rowing to Finding Opportunities in Nordic Equities

The next generation of portfolio managers often begins its journey away from the spotlight, developing investment skills as analysts before taking on portfolio responsibility....

Borea Opens Oslo Office as Expansion Continues

Bergen-based Borea Asset Management is expanding its presence in Norway with the opening of an office in Oslo and the appointment of two client...

The European SMID Opportunity Through Mind and Machine

By Fleura Shiyanova at Kepler Unigestion: European small- and mid-cap equities offer access to businesses at the centre of Europe’s investment priorities, yet many...

Alcur Classic Returns to Unrestricted Subscriptions

Swedish stock-picking boutique Alcur Fonder is lifting subscription restrictions on its flagship hedge fund, Alcur Classic, less than a year after introducing limits on...

Allocator Interviews

Voices

Request for Proposal

- Advertisement -