- Advertisement -

Related

Nordic CTAs Suffer Worst Year on Record Despite December Advance

- Advertisement -

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

Per Johansson to Leave Origo Fonder at Year-End

Per Johansson is set to leave his role as Co-Chief Investment Officer and partner at Origo Fonder at the end of the year after...

How Steadnor Combines Systematic Investing, High ROIC and Concentration

After more than a decade as a stockbroker in Oslo and London, Morten Norton Halle developed his own framework for investing in equities, shaped...

DNB Teknologi at 25: Backing Tech Progress Without Chasing the Hype

Technology investing has undergone several revolutions since the turn of the century, from the aftermath of the dot-com crash to the rise of cloud...

Atlant Strengthens Team With Portfolio Manager and CTO Hires

Swedish alternative investment boutique Atlant Fonder has made two appointments over the summer, hiring Mark Mehtonen as portfolio manager and Rikard Östback as chief...

Norselab Turns to Shipping and Energy for Its Fourth Credit Fund

Norwegian boutique Norselab Credit Management is launching its fourth fund in less than four years, expanding its credit platform into the highly cyclical shipping,...

Ridge Capital Builds Out Investment Team

Stockholm-based boutique manager Ridge Capital has strengthened its investment team with the appointments of Oliver Eliassen as Senior Portfolio Analyst and Olivia Berg Wadsten...

Allocator Interviews

In-Depth: Diversification

- Advertisement -

Voices

Request for Proposal

- Advertisement -