News

December Drags Nordic Fixed-Income HFs Into Negative Territory

Stockholm (HedgeNordic) – The group of Nordic fixed-income hedge funds reported their third consecutive month of negative performance in December, erasing all of their gains for 2018. The NHX Fixed Income was down 0.6 percent last month (97 percent reported), and logged a negative 0.4 percent return for 2018. The year was the second-worst year on record for Nordic fixed-income hedge funds, yet, the group ended last year as the best-performing category in the NHX.

Speedometer: The December performance of the NHX Fixed Income Index relative to its best and worst monthly performance since 2010. Source: HedgeNordic.

Nordic fixed-income hedge funds turned in virtually the same performance as their international counterparts in December. The Eurekahedge Fixed Income Hedge Fund Index, which reflects the collective performance of 323 global fixed-income hedge funds, was down 0.5 percent last month. The index was flat to marginally negative last year. The HFN Fixed Income Index (non-arbitrage), an index tracking the performance of fixed-income vehicles in eVestment’s database of hedge funds, fell 0.4 percent in December, cutting the year’s gains to 0.2 percent.

Around one in every four members of the NHX Fixed Income reported gains for December. Last month, two vehicles managed by Copenhagen-based Moma Advisors gained the most among the fixed-income hedge funds included in the NHX. Asgard Fixed Income Risk Premia, which specializes in carry and roll-down strategies and relative-value strategies, advanced 1.4 percent in December, reducing last year’s decline to 0.6 percent.

Chart by Visualizer

Moma’s flagship vehicle, Asgard Fixed Income Fund, was up 1.2 percent last month and gained 1.4 percent for the entire year. Fixed-income arbitrage fund CABA Hedge gained 1.0 percent in December, ending the year flat. Last year’s best-performing members of the NHX Fixed Income, Scandinavian Credit Fund I and HP Hedge, were also among December’s top five performers.

Chart by Visualizer

 

Picture © _Arrfoto—shutterstock

close

Subscribe to HedgeBrev, HedgeNordic’s weekly newsletter, and never miss the latest news!

Our newsletter is sent once a week, every Friday.

Most Popular Today

Most Popular This Week

- Advertisement - spot_img

Latest Articles

Alecta’s Head of Real Assets Leaves for Heimstaden

Stockholm (HedgeNordic) – Frans Heijbel is leaving his role as Alecta’s Head of International Real Assets to join residential real estate investor and manager...

Alecta’s Real Assets PM Joins Niam

Stockholm (HedgeNordic) – Infrastructure manager Niam Infrastructure has hired Johanna Strömsten Friberg as Associate Director from Swedish pension fund Alecta, where she worked as...

AP1 Duo Heading to New Fund Selection Agency

Stockholm (HedgeNordic) – In a series of new appointments, the new Swedish Fund Selection Agency – Fondtorgsnämnden – has hired Majdi Chammas and Tina...

A Dozen Nordic Nominees at HFM Awards

Stockholm (HedgeNordic) – About a dozen Nordic hedge funds have been shortlisted for the HFM European Performance Awards 2022, which recognize and reward the...

Lærernes Pension Picks Internal Candidate as Head of Alts

Stockholm (HedgeNordic) – With Head of Alternatives Helle Ærendahl Heldbo departing for AP Pension in September, Lærernes Pension has promoted senior portfolio manager Tobias...

New Head of Alts at PensionDanmark

Stockholm (HedgeNordic) – PensionDanmark’s Head of Alternatives, Kim Nielsen, is leaving the Danish pension fund after 11 years to join the newly-established family office...