- Advertisement -
- Advertisement -

Related

Nordic Equity HFs Up in October

Industry Report

- Advertisement -

Stockholm (HedgeNordic) – Nordic equity hedge funds gained 0.6 percent on average in October (90 percent reported), as global equity markets ended the month in the green as a result of a “substantial phase one” deal between the United States and China and central banks cutting rates. Equity hedge funds, as measured by the NHX Equities, advanced four percent year-to-date through the end of October.

Global equity markets, as measured by the FTSE World Index, rose by 0.4 percent in Euro terms last month. Nordic equities, as expressed by the VINX All-Share index, returned 1.3 percent in Euro terms in October. The index includes all firms listed on Nasdaq OMX Nordic Exchanges and Oslo Börs. Eurozone equities were up 1.2 percent, whereas North American stocks were down 0.3 percent in Euro terms.

Based on preliminary estimates, Nordic equity hedge funds as a group performed in line with their global peers. The Eurekahedge Long Short Equities Hedge Fund Index, which tracks the performance of 964 global equity hedge funds, gained 0.6 percent last month based on reported data from 19 percent of index constituents. Global long/short equity funds were up 6.8 percent in the first ten months of 2019. The HFN Equity Hedge Aggregate Index, which includes equity hedge funds from eVestment’s hedge fund database, was up an estimated 0.6 percent in October. The HFN index was up 8.4 percent year-to-date through the end of October.

The dispersion between last month’s best- and worst-performing members of the NHX Equities decreased relative to the previous month. The top 20 percent of members gained 3.9 percent on average, whereas the bottom 20 percent lost 1.9 percent. In September, the top 20 percent was up 3.3 percent, and the bottom 20 percent was down 3.9 percent. About half of all the members of the NHX Equities posted gains last month.

Rhenman Healthcare Equity L/S was the group’s best-performing member in October with a return of 6.5 percent. The long-biased healthcare-focused equity fund returned 18.1 percent in the past ten months. Atlant Sharp, a hedge fund tha trades equity-related derivatives on the OMX Stockholm 30, advanced 5.1 percent in October and was up 22.3 percent in the past ten months. Sector Zen Fund, a Japan-focused long/short equity fund, closely followed suit with a monthly return of 5 percent. The Oslo-based fund gained 18.4 percent in 2019. KLP Alfa Global Energi was up 3.5 percent last month and 8.2 percent in the first ten months of 2019.

 

Photo by Debby Hudson 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
Previous article
Next article

Latest Articles

Rising Adoption of Quantitative Investment Strategies Among Nordic Investors

From a high-level perspective, there is a clear trend of increasing adoption of quantitative investment strategies (QIS) among Nordic institutional investors, either through the...

EU Plans Stress Test for Hedge Funds and Non-Bank Firms

European regulators are planning a stress test to identify vulnerabilities beyond the traditional banking sector, focusing on less regulated entities such as hedge funds,...

ALCUR Fonder Continues Hiring Spree

Following two earlier additions this year, ALCUR Fonder continues to expand its portfolio management team at a notable pace. The Stockholm-based hedge fund boutique...

Nordic Private Markets Modernize with Data-Centric Trade Lifecycle Automation

By Anders Stengaard Jensen at Indus Valley Partner: In recent years, asset managers in Nordic countries have accelerated efforts to modernize trade operations, particularly...

Norwegian Hedge Fund Industry Sees Major Boost with New Launch

The Swedish and Danish hedge fund industries remain closely matched in size, with Denmark recently edging ahead of Sweden. While still less than half...

Atlant Funds Hold Up in May Despite Mistimed Market Call

Macroeconomic and market forecasts are notoriously difficult, even for experienced hedge fund managers. What matters more than being right, however, is ensuring that incorrect...

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.