News

Month in Review – March 2019

Stockholm (HedgeNordic) – For the month of March, Nordic hedge funds were up 0.5 percent on average (91 percent reported), taking the industry’s first-quarter performance to three percent. At a strategy level, Nordic trend-following CTAs performed well as trendiness in financial markets improved during the month.

Month in Review – March 2019

Three of the five strategy categories in the Nordic Hedge Index posted gains for March, with CTAs leading the gains. The members of the NHX CTA gained 1.5 percent on average last month, taking the group’s year-to-date performance into positive territory at 0.3 percent. On average, multi-strategy and fixed-income hedge funds were up 0.7 percent and 0.5 percent, respectively. Equity hedge funds, meanwhile, were down 0.3 percent in March, trimming the group’s first-quarter return to four percent. Funds of hedge funds lost an estimated 0.2 percent in March.

The dispersion between last month’s best and worst performing members of the Nordic Hedge Index remained at the level seen in February. In March, the top 20 percent of Nordic hedge funds gained 3.4 percent on average, whereas the bottom 20 percent lost 2.1 percent on average. In the previous month, the top 20 percent was up 3.8 percent on average and the bottom 20 percent lost 1.4 percent. More than half of all members of the Nordic Hedge Index made money in March.

CTAs dominated last month’s performance leaderboard, with SEB Asset Selection Opportunistic, managed with twice the volatility target of flagship trend-follower SEB Asset Selection, topping the table. The fund booked a gain of 7.7 percent for March, erasing almost all the losses incurred in the previous two months. Systematic trend-following hedge fund Lynx (Sweden) followed suit with a gain of 7.6 percent, which extended the fund’s gains for the year to nine percent.

Chart by Visualizer

HCP Focus, an equity fund that maintains a concentrated portfolio of high-quality businesses, advanced 5.4 percent last month, taking the fund’s performance for the year to 32.2 percent. The fund managed by Ernst Grönblom is this year’s best-performing member of the Nordic Hedge Index. RPM Galaxy, a multi-CTA fund that invests in large, established CTA managers, and quantitative trend-follower Nordea 1 – Heracles Long/Short MI Fund were up 5.4 percent and 5.3 percent, correspondingly.

Chart by Visualizer

The Month in Review for March 2019 can be downloaded below:

Picture © shutterstock

Most Popular Today

Most Popular This Week

- Advertisement - spot_img

Latest Articles

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...

Storming Ahead with a Third Portfolio Manager

Stockholm (HedgeNordic) – High-yield bond manager Storm Capital Management has strengthened its team with the appointment of Gustaf Amlé as the third portfolio manager....

Nordic Equity HFs Rebound

Stockholm (HedgeNordic) – Nordic equity hedge funds rebounded last month as stock markets soared following one of their worst first-half of the year performance...

Dutch PE Firm Hires Co-Head of Nordics

Stockholm (HedgeNordic) – One month after opening its Copenhagen office, Dutch private equity firm Standard Investment has appointed Martin Mainz as Co-head of Nordics...