- Advertisement -
- Advertisement -

Related

Nordic Equity HFs Inch Up in July

Latest Report

- Advertisement -

Stockholm (HedgeNordic) – Nordic equity hedge funds posted an average return of 0.4 percent in July (88 percent reported), as the percentage of funds with positive returns reached 60 percent. Equity hedge funds, as expressed by the NHX Equities, gained 4.6 percent in the first seven months of 2019, marginally beating CTAs and fixed-income hedge funds but trailing multi-strategy funds.

Speedometer: The July performance of the NHX Equities relative to its best and worst monthly performance since 2010. Source: HedgeNordic.

Nordic equity hedge funds as a group outperformed local equity markets last month but lagged global stock market indices. Nordic equities, as expressed by the VINX All-share index, returned a negative 0.7 percent in Euro terms in July. The index includes all firms listed on Nasdaq OMX Nordic Exchanges and Oslo Börs. Global equities, as measured by the FTSE World Index, rose 2.7 percent in Euro terms last month. Eurozone equities gained 0.1 percent, whereas North American equities advanced 3.7 percent in Euro terms.

Based on preliminary estimates, the group of equity funds in the Nordic Hedge Index performed broadly in line with European and global long/short equity funds last month. The Eurekahedge Europe Long Short Equities Hedge Fund Index, which tracks the performance of 167 European equity hedge funds, gained an estimated 0.5 percent based on reported data from 20 percent of its index constituents. The Eurekahedge Long Short Equities Hedge Fund Index, a broader index comprised of 947 global funds, was up an estimated 0.8 percent last month based on reported data from 15 percent of index constituents. In the first seven months of 2019, European and global equity hedge funds gained 4.5 percent and 7.6 percent, respectively.

More than half of the 53 equity hedge funds in the Nordic Hedge Index with reported data for July had positive returns last month. Elementa, a niche long/short equity fund specialized in Nordic small and mid-sized companies, was last month’s best-performing equity hedge fund in the Nordic Hedge Index. The Stockholm-based fund managed by Marcus Wahlberg gained six percent in July, the fund’s best monthly performance since inception. The six percent-gain brought the fund’s year-to-date performance to 7.8 percent.

Long/short equity fund Gladiator Fond closely followed suit with a gain of 5.8 percent in July, which reduced the fund’s losses for 2019 to 12 percent. Origo Quest 1, which predominantly invests in small and medium-sized companies in Sweden and the Nordics, was up 5.1 percent last month as both long and short positions contributed to performance. The Stockholm-based fund gained 16 percent in the first seven months of the year. Nordic Cross Small Cap Edge and Adrigo Small & Midcap L/S were up 4.6 percent and 4.1 percent last month, respectively.

 

Photo by Christoph Deinet 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

European Alternative Investments Conference 2025

More than 200 practitioners, academics and thought leaders met in Copenhagen for the second European Alternative Investments Conference, hosted by Finansforeningen, CFA Society Denmark...

Playing ‘Moneyball’ for Investors

Having managed the opportunistic hedge fund Pensum Global Opportunities under the Pensum Asset Management umbrella since 2022, Sector co-founder Peter Andersland has now established...

One Big Winner Lifts Accendo Into the Top Ten

When your portfolio holds six names, one big winner can move the needle in a major way. For Accendo Capital, September proved just that....

Slim Nordic Line-Up at HFM Awards

With Intelligence has revealed the shortlist for the HFM European Performance Awards 2025, featuring an unusually small number of Nordic hedge funds among this...

Record Gold, Rising Momentum

The NHX CTA Index gained in September 2025, supported by a broad-based trend environment. Most of the profits came from precious metals, as gold...

From Rocky Starts to Solid Returns and Milestones

Lynx Asset Management, best known for its flagship trend-following program Lynx, has in recent years expanded its product offering with the launch of Lynx...

Allocator Interviews

In-Depth: High Yield

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.