Facebook Twitter Instagram
    • About
    • Subscribe
    • Contact
    • Report Library
    • Manager Login
    Facebook Twitter LinkedIn RSS
    HedgeNordic
    • Home
    • Allocator Angle
    • Report Library
    • Nordic Hedge Award
      • Nominations 2021 Nordic Hedge Award
      • Rookie of the Year
      • Jury Board
      • Historic Winners
      • Statistics
    • Nordic Hedge Index
    • Webinars & Podcasts
    HedgeNordic

    Nordic Equity Hedge Funds Aided by Strong Q2 Earnings

    Eugeniu GuzunBy Eugeniu Guzun10/08/2018No Comments
    Facebook Twitter LinkedIn Email

    Stockholm (HedgeNordic) – On the back of strong second-quarter company earnings in both Europe and the United States, Nordic equity hedge funds gained 1.2 percent in July (93 percent reported). After topping the list as last month’s best-performing category in the Nordic Hedge Index (NHX), the NHX Equities Index ended the first seven months of the year in the green by 1.8 percent.

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

    Despite their strong performance, Nordic equity-oriented hedge funds underperformed both local and global equity markets in July. The VINX All-share index, which includes all the shares listed on NASDAQ OMX Nordic Exchanges and Oslo Börs, posted a net return of 4.0 percent last month. Global equity markets, as expressed by the FTSE World Index, rose 3.0 percent in Euro terms as second-quarter earnings largely topped already elevated expectations. Eurozone equity markets, as measured by the FTSE Eurozone Index, rose 3.6 percent in July, while North American equities were up 3.5 percent in Euro terms. However, concerns on the evolving global trade war will likely remain top of mind despite enjoying a strong earnings season.

    Nordic equity hedge funds bested the performance delivered by their international peers. For example, the Eurekahedge Long Short Equities Hedge Fund Index, comprised of 1016 international equity hedge funds, gained 0.9 percent in July, bringing the performance for the first seven months of 2018 up to 1.5 percent. The Barclay Equity Long/Short Index, meanwhile, gained an estimated 0.4 percent, with the preliminary figure calculated with reported data from 197 funds. The Barclay index was up 2.0 percent year-to-date through the end of July. The HFN Long/Short Equity Index, comprised of equity hedge funds from eVestment’s database, was up 1.0 percent last month, bringing its 2018 performance through July to a gain of 2.5 percent.

    Chart by Visualizer

    Around three-fourths of the 59 equity-focused members of the NHX delivered positive performance for July, with Inside Hedge topping the list as July’s best-performing member of the group with a gain of 5.6 percent. Inside Hedge, which invests in medium- and large-sized Swedish companies based on insider trading sentiment, performed strongly despite its oil and gold investments plunging by more than 13 percent. The fund’s largest contributors to performance were companies operating in the consumer goods sector. The fund managed by Gothenburg-based Erik Lidén (pictured) is up 9.8 percent in the first seven months of the year.

    Nordics-focused long/short equity fund Norron Select closely followed suit with a gain of 5.4 percent, which brought the 2018 performance through July to 8.0 percent. The long/short equity hedge fund managed by Max Mitteregger Kapitalförvaltning AB, Gladiator Fond, is producing strong gains in 2018 after having gained 4.5 percent in July. The fund is up 18.0 percent year-to-date through the end of July, ranking as the best-performing member of the NHX thus far in 2018. Healthcare-focused Rhenman Healthcare Equity L/S was up 4.3 percent last month, bringing the 2018 performance to 15.5 percent.

    Chart by Visualizer
    *July figures not reported.

    AAM Absolute Return, which had been this year’s best NHX performer prior to July, fell 5.4 percent last month, cutting year-to-date gains to 16.1 percent. Event-driven market-neutral fund Coeli Norrsken, now a Luxembourg-domiciled fund since the beginning of April of this year, was down 1.6 percent last month, extending 2018 losses to 7.1 percent. Catella Nordic Long Short Equity was also down 1.6 percent in July, reducing year-to-date gains through July to 3.1 percent.

    Share. Facebook Twitter LinkedIn Email
    Previous ArticleTakeovers Expected to Boost Sector Zen’s Performance
    Next Article Man Group Registers Record Net Inflows
    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.

    Related Posts

    Month in Review – May 2022

    When One Plus One is Greater Than Two

    Month in Review – April 2022

    Add A Comment

    Leave A Reply Cancel Reply

    Time limit is exhausted. Please reload CAPTCHA.

    Most read today:
    • Janus Henderson Onboards Danske Bank’s EMD Team
    • Head of Alts Jumps Ship to Join AP Pension
    • PFA Hires PM from Hedge Fund Space
    • Industry Reports
    • Nordic Hedge Award – Main
    • Lower no Longer: Cash & Carry in the Emissions Markets
    • In-Depth: Inflation Protection

    Ukraine, Supply-Chain Shortages and Soaring Prices – Accelerators of Sustainable Development

    18/05/2022

    New Theme: Real Income Destruction

    17/05/2022

    Blockification

    16/05/2022

    The Inflation Puzzle

    12/05/2022
    Promotion:
    Video: Manager Interviews
    https://www.youtube.com/watch?v=tni7dQvQrmo

    Subscribe to our newsletter

    HedgeNordic: Your Single Access Point to the Nordic Hedge Fund Industry!

    Check your inbox now to confirm your subscription.

    Most read articles this week:
    • PFA Hires PM from Hedge Fund Space
    • Real Assets: AP4’s True “Alternative”
    • Month in Review – May 2022
    • A Light-Footed Shipping-Only Strategy
    • European Real Estate in the New Economic Climate
    • Are We in for a Soft Landing?
    • Recent
    • NHX
    • In Depth

    Head of Alts Jumps Ship to Join AP Pension

    28/06/2022

    Janus Henderson Onboards Danske Bank’s EMD Team

    27/06/2022

    Procrastinated Risk is Knocking on the Door

    23/06/2022

    PFA Hires PM from Hedge Fund Space

    22/06/2022

    Month in Review – May 2022

    22/06/2022

    Month in Review – April 2022

    12/05/2022

    Follow Your Favourite Hedge Fund

    11/05/2022

    Month in Review – March 2022

    13/04/2022

    Ukraine, Supply-Chain Shortages and Soaring Prices – Accelerators of Sustainable Development

    18/05/2022

    New Theme: Real Income Destruction

    17/05/2022

    Blockification

    16/05/2022

    The Inflation Puzzle

    12/05/2022
    Newsletter Subscription:
    Most Recent Posts:

    Head of Alts Jumps Ship to Join AP Pension

    28/06/2022

    Janus Henderson Onboards Danske Bank’s EMD Team

    27/06/2022

    Procrastinated Risk is Knocking on the Door

    23/06/2022

    PFA Hires PM from Hedge Fund Space

    22/06/2022

    Month in Review – May 2022

    22/06/2022
    Publisher

    Nordic Business Media AB
    Corporate No.: 556838-6170
    BOX 7285
    SE-103 89 Stockholm, Sweden

    VAT No.: SE-556838617001
    Tel.:+46 (0) 8 5333 8688
    Mob.: +46 (0) 7 06566688
    Email: info@hedgenordic.com

    STAY INFORMED

    HedgeNordic: Your Single Access Point to the Nordic Hedge Fund Industry!

    Subscribe to our newsletter:

    Check your inbox now to confirm your subscription.

    RSS Hedge Fund Job Digest
    • Investment Management Summer Analyst Program 28/06/2022
    • Global Markets Credit - VP 28/06/2022
    • Fund Analyst 28/06/2022
    • Senior Associate 28/06/2022
    • Fund/Family Office Consultant 28/06/2022
    • US Tax Director 28/06/2022
    • Quantitative Delta One Portfolio Manager 28/06/2022
    • Senior Operational Due Diligence Analyst 28/06/2022

    Copyright © 2022 Nordic Business Media AB

    © 2022 Nordic Business Media AB
    • About
    • Cookie Policy
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.

    We are using cookies to give you the best experience on our website.

    HedgeNordic
    Powered by  GDPR Cookie Compliance
    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.

    Strictly Necessary Cookies

    Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

    If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.