- Advertisement -
- Advertisement -

Related

Nordic CTAs Stumble Again in Risk-Off Environment

Latest Report

This year’s Alternative Fixed Income report from HedgeNordic explores how institutional investors and asset managers are navigating this new reality, balancing yield and resilience amid shifting credit cycles, structural change, and evolving sources of return.

Stockholm (HedgeNordic) – Following a three-month run of positive performance, Nordic CTAs fell 0.8 percent on average in May (94 percent reported). The aggregate performance of Nordic CTAs remains in positive territory for the year at 0.5 percent.

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

The NHX CTA, which currently comprises 18 constituents, outperformed the world’s largest CTAs last month but trailed the broader CTA industry both in May and year-to-date. The SG CTA Index, which tracks a pool of CTAs selected from the larger managers that are open to new investment, declined 2.4 percent last month. The SG CTA Index, which includes three members of the Nordic Hedge Index, gained 2.2 percent in the first five months of 2019. The Barclay BTOP50 Index, which also tracks a select group of large investable CTAs, was down 1.7 percent last month, cutting the year-to-date performance to 3.2 percent. The broader Barclay CTA Index, which includes over 500 CTAs, was down 0.3 percent last month and gained 2.2 percent year-to-date through the end of May.

Five of the 18 members of the NHX CTA posted positive return for May. Estlander & Partners Alpha Trend II, a higher leverage version of systematic medium-term trend-following fund Estlander & Partners Alpha Trend, was last month’s best performing member of both the Nordic Hedge Index and the NHX CTA with a monthly gain of 12.6 percent. The double-digit increase brought the fund’s performance for the year back into positive territory at 0.3 percent.

Estlander & Partners Alpha Trend followed suit with a gain of 4.0 percent, which took the fund’s year-to-date return to 0.8 percent. RPM Evolving CTA Fund, a diversified multi-CTA fund, gained 3.0 percent in May as “smaller diversifying strategies managed to navigate the crisis-ridden market environment much better” than larger trend-following managers. Trend-follower Nordea 1 – Heracles Long/Short MI Fund, set to merge with another Nordea fund this month, and SEB Asset Selection were up 2.2 percent and 0.5 percent, correspondingly.

 

Photo by Nathan Dumlao on Unsplash

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

Slimmer Nordic Lineup Still Delivers at HFM Awards

Despite the Nordic region featuring a slimmer lineup of nominees at this year’s HFM European Performance Awards compared to previous years, three Nordic managers...

More Equities, Less Diversification for Finnish Pension System

In an effort to safeguard the long-term sustainability of Finland’s pension system amid demographic pressures, new rules for private-sector earnings-related pensions are set to...

Investors Rethink Defense and ESG

Several banks and pension giants still have ESG rules that in practice exclude defense stocks. But new figures reveals that something is happening in...

Active Ownership – The Merchant’s Challenge

By Arne Simensen and Jakob Gravdal at Anchora Capital: In the Dutch Golden Age, Isaac Le Maire, initial largest shareholder in the world's first...

Alcur Caps Subscriptions, Prioritizes Efficient Management

On the back of consistent returns and heightened investor interest, stock-picking boutique Alcur Fonder will introduce a limited subscription mechanism for its flagship hedge...

Combining Expertise for Private Equity Sustainability and Energy Transition

HedgeNordic interviewed Federated Hermes Limited’s Head of Responsibility and EOS, Leon Kamhi, and Principal and Head of Portfolio Strategy and Solutions within Private Equity, Christian...

Allocator Interviews

In-Depth: High Yield

- 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.