Month In Review – September 2018

Stockholm (HedgeNordic) – Nordic hedge funds, as expressed by the Nordic Hedge Index (NHX), were flat to marginally positive at 0.02 percent during September (91 percent reported). The weakness was led by trend-following CTA funds, which recorded their second-worst month of the year. The average Nordic hedge fund is still up 1.0 percent year-to-date through September.

Month In Review – September

In September, Nordic fixed-income hedge funds enjoyed one of the best months of the year after gaining 0.7 percent, which brought the year-to-date performance to 1.8 percent. Equity-focused vehicles, meanwhile, increased 0.4 percent on average, taking the year-to-date performance through September to 2.8 percent. Nordic CTA funds retreated 1.5 percent last month, which extended the year-to-date losses for the group to 2.7 percent. Multi-strategy hedge funds delivered flat to marginally positive returns during September, whereas funds of hedge funds were flat to slightly negative at 0.1 percent last month. Multi-strategy vehicles are up 0.7 percent year-to-date through September, whereas funds of hedge funds are down 1.2 percent over the same period.

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Around half of all hedge funds with reported figures for September posted gains for the month. Adrigo Small & Midcap L/S topped last month’s list of the best-performing funds in the NHX, posting a return of 6.6 percent. The long/short equity fund that focuses on Nordic small and middle-sized companies gained 14.9 percent in the first three quarters of the year. Titan Opportunities Fund, which invests in cyclical and commodity-related sectors, advanced 3.5 percent in September, bringing the year-to-date performance to 13.9 percent. The London-based fund with Norwegian ties generated an annualized return of 28.1 percent since launching in June of 2016. Equity-focused vehicles Norron Select and Atlant Edge were up 3.4 percent and 3.1 percent, correspondingly.