- Advertisement -
- Advertisement -

Nordic CTAs Extend Losses

Report: Systematic Strategies

- 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

Ridge Capital Expands Team After Hitting €100 Million Milestone

Stockholm (HedgeNordic) – With its unconventional high-yield bond strategy now exceeding €100 million in assets under management, Ridge Capital is expanding its portfolio management...

“7 Years, Niller, Then You Know a Thing or Two”

Stockholm (HedgeNordic) – There is a Danish saying that goes, “7 years, Niller, then you know a thing or two,” suggesting that seven years...

Brobacke Gains 7.6% in Early July, Predicts Continued Bull Market

Stockholm (HedgeNordic) – After a relatively flat first half of 2024, marked by noticeable month-over-month volatility, discretionary macro fund Brobacke Global Allokering advanced 7.6...

Kristofer Barrett Back to Managing Tech Fund

Stockholm (HedgeNordic) – Kristofer Barrett, the former portfolio manager of the multi-billion-dollar Swedbank Robur Technology fund, has returned to managing a technology-focused equity fund....

Tidan’s Resurgence Amid Markets Needing a Touch of Magic

Stockholm (HedgeNordic) – In late 2021, Michael Falken and his team at Tidan Capital launched a hedge fund employing a capital structure relative value...

The Value of Short Selling for Symmetry

Stockholm (HedgeNordic) – Stock-picking hedge fund Symmetry Invest has achieved a net-of-fees annualized return of 18 percent since its inception just over 11 years...

Allocator Interviews

In-Depth: High Yield


Request for Proposal

- Advertisement -