- Advertisement -
- Advertisement -

Related

One More Coeli Fund Shuts Down

Latest Report

- Advertisement -

Stockholm (HedgeNordic) – Stockholm-based Coeli Asset Management has closed down Coeli Altrua Macro after less than two years following its launch in February of 2018. This is the fourth hedge fund under the umbrella of Coeli that closed doors in 2019.

Coeli Altrua Macro’s institutional share class delivered a cumulative negative return of 9.5 percent since inception until its liquidation on October 17. The fund applied a quant-fundamental process to allocate between equities, bonds, and currencies while holding a core long volatility and tail-risk protection exposure. Initially managed by portfolio managers Namik Immelbäck (pictured) and Filip Kozlowski, Coeli Altrua Macro maintained a multi-asset macro portfolio based on the economic environment, valuations, and trends.

According to Immelbäck, the focus of the strategy at this late stage in the cycle has been to provide tail risk protection for investors’ broader portfolios. “Structuring such long volatility trades comes at a cost but are designed to provide substantial skewed upside during equity market turbulence,” explains Immelbäck. “The intention has been to mitigate the costs of portfolio protection through relative value implementations in fixed income, which unfortunately have not contributed as positively as expected through the year.”

Commenting on the closure of Coeli Altrua Macro, Immelbäck says that “we still believe that this is the right time in the cycle to position for portfolio protection. In the end, the carry costs and limited local commercial demand for such a strategy led to the decision to close the fund as we couldn’t reach a critical mass to cover the operational expenses.”

 

Image by TilenHrovatic from Pixabay

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

Active Decisions in Passive Wrappers: Othania on ETF Innovation

Founded in early 2016 by brothers Vincent Dilling-Larsen and Christian Mørup-Larsen, Danish fund boutique Othania built its foundation on a proprietary risk model, “Tiger,”...

Rettig Appoints Crescit Manager to Oversee Hedge Fund Strategies

Simon Borgefors has joined Finnish family-owned investment company Rettig as Investment Director for hedge fund strategies in Stockholm, leaving Swedish hedge fund boutique Crescit...

€5m Ticket to Nordic High Yield From German Family Office

A German family office plans an initial €5 million commitment to a UCITS‑compliant Nordic high‑yield fund, with capacity to scale over time. According to...

From Beef to Bitcoin: August’s Wild CTA Ride

In August 2025, the CTA sub-index of the Nordic Hedge Index edged lower after two positive months, reflecting mixed performance among managers. Strong gains...

Lauri Ehanti to Leave Aalto University Endowment After 14 Years

Lauri Ehanti is leaving Aalto University’s endowment fund after 14 years in various roles, most recently as Head of Investments. His responsibilities will be...

Othania’s All-In-One Fund Celebrates Five Years

Danish fund boutique Othania is celebrating the five-year anniversary of Othania Balanceret Makro, its all-in-one fund blending equity, bond, and alternatives exposure through Exchange...

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.