- Advertisement -
- Advertisement -

Related

Nordic CTAs Suffer Worst Year on Record Despite December Advance

Powering Hedge Funds

Stockholm (HedgeNordic) – Nordic trend-following hedge funds recouped some of their earlier losses after gaining 1.1 percent on average in December (90 percent reported). Out of the five Nordic Hedge Index (NHX) sub-categories, only the NHX CTA ended December in the green. The December gain did not help the NHX CTA avoid incurring its largest annual decline on record. The index was down 5.5 percent in 2018.

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

Nordic CTA vehicles performed broadly in line with their international counterparts last month. The Société Générale CTA Index, designed to track the performance of the world’s largest CTAs, gained 1.4 percent in December, cutting last year’s losses to 5.8 percent. The Barclay BTOP50 Index, which also seeks to reflect the performance of the 20 largest CTAs but has slightly different index components, was up 0.8 percent in December, ending 2018 at down 4.5 percent. The Barclay index includes two members of the NHX, while the SG index has three members of our index as components. The broader Barclay CTA Index was up 0.4 percent last month, which brought the performance for 2018 to down 2.7 percent.

Two in every three members of the NHX CTA posted gains in December, with Estlander & Partners’ most diversified program, Estlander & Partners Freedom, enjoying the highest return. Freedom, which combines two independently developed Estlander & Partners programs, was up 6.7 percent in December, cutting the loss for 2018 to down 9.2 percent.

Trend-followers SEB Asset Selection Opportunistic and Nordea 1 – Heracles Long/Short MI Fund gained 4.8 percent and 4.2 percent last month, respectively. Aktie-Ansvar Trendhedge, which was closed down before Christmas as a result of weak investor demand and performance, gained 4.2 percent from the beginning of December through December 20. Multi-CTA fund RPM Evolving CTA Fund advanced 3.8 percent last month, bringing the fund’s performance into positive territory for the year at 1.6 percent.

 

Picture © Jirsak—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

Turning Distressed Loans Into Returns

While most credit investors aim to avoid defaults, Swedish investors Gustav Hultgren and Tobias Thunander have built a career on the opposite: buying non-performing...

Borea to Gain Banking Footprint in Northwest Norway

Norwegian fund boutique Borea Asset Management is set to welcome a new owner and strategic partner in Sparebanken Møre, the largest bank in the...

Bringing Private Equity Expertise to Nordic Small- and Mid-Cap Stocks

Polaris is a Nordic mid-market private equity firm that has been operating since the late 1990s. Building on more than two decades of experience...

Round Table Discussion: Trend-Following in a Year Without a Map

For more than a decade, Stockholm has hosted some of the world’s leading CTAs, who come together to discuss market conditions, trends, innovation,...

Nordic Fixed-Income Managers Lead EuroHedge Awards Shortlist

With Intelligence has unveiled the first round of nominations for the 25th edition of the EuroHedge Awards, set to take place in London on...

Timing, Not Fundamentals, Behind Impega’s Challenging November

Long-biased equity fund Impega, managed by Norwegian fund manager Petter Kvamme Jensen, had ranked as either the top-performing or among the top three performing...

Allocator Interviews

In-Depth: Diversification

- Advertisement -

Voices

Request for Proposal

- Advertisement -
HedgeNordic
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.