- Advertisement -

Related

Month In Review – August 2018

Powering Hedge Funds

Stockholm (HedgeNordic) – Nordic hedge funds, as measured by the Nordic Hedge Index (NHX) Composite, gained 0.5 percent on average in August (89 percent reported), with CTA funds gaining the most as a group. The NHX Composite recorded a new all-time high of 191.76 last month, surpassing the previous record high reached in January earlier this year. On average, Nordic hedge funds rose 1.0 percent this year through the end of August.

Month in Review – August

Based on preliminary estimates, four of the five NHX sub-categories recorded month-on-month gains in August. CTA funds were the best performers last month, with four in every five members of the NHX CTA posting positive returns for the month. Nordic CTAs rose 1.7 percent in August, bringing performance for the first eight months of 2018 to down 1.4 percent. Equity hedge funds rose 0.5 percent on average last month and 2.3 percent this year through August. Multi-strategy hedge funds were up 0.3 percent in August, whereas fixed-income funds were flat for the month. Multi-strategy and fixed-income vehicles are up 0.9 percent and 1.0 percent year-to-date through the end of August, correspondingly. Fund of hedge funds, meanwhile, fell 0.1 percent last month, leaving year-to-date losses at about 1.3 percent.

More than half of the funds comprising the NHX posted gains in August, with five vehicles recording monthly returns above five percent. Estlander & Partners Alpha Trend II, a higher leverage version of systematic trend-following strategy Alpha Trend, was August’s top performing fund in the NHX with a gain of 8.5 percent. Value-oriented HCP Focus Fund advanced 8.3 percent, brining returns to 25.9 percent for the year. HCP Focus Fund is the best performing member of the NHX year-to-date. Diversified multi-CTA fund RPM Galaxy was up 7.6 percent in August, cutting this year’s losses to 6.7 percent.

 

Picture © Andrey Yurlov—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

Core, Satellite, and Structural Premiums: PensionDanmark’s Approach to Emerging Market Debt

Many institutional investors have gradually internalized mandates once awarded to external managers, seeking tighter cost control, greater transparency, and improved alignment. Emerging market debt...

PIMCO: Similar Yields, Better Risk Profile in European High Yield

The U.S. high yield market has long been regarded as the global benchmark: deeper, more liquid, and broader in sector composition. For many allocators,...

Avoiding the Echo Chamber: Kraft’s Playbook in Tighter High-Yield Market

Delivering strong returns during a market rebound is one thing. Preserving performance momentum once spreads tighten and dispersion fades is another. That was the...

Tidan Deepens Volatility Arbitrage Expertise

Tidan Capital has strengthened its volatility and options arbitrage platform with the appointment of Laurent Keller as Senior Portfolio Manager. The Stockholm-based hedge fund...

Two Brothers, One Model, Ten Years: The Evolution of Othania

Exactly ten years ago, two brothers on the outskirts of Copenhagen set out to build their own asset management firm. Their idea was straightforward...

Rare Valuation Gap Between Small and Large Caps

Over the past five years, Swedish small caps have oscillated between a 10 percent premium and a 10 percent discount relative to large caps,...

Allocator Interviews

In-Depth: Diversification

- Advertisement -

Voices

Request for Proposal

- Advertisement -