- Advertisement -
- Advertisement -

Related

Strong November for Nordic Equity HFs

Industry Report

- Advertisement -

Stockholm (HedgeNordic) – Nordic equity hedge funds gained 1.6 percent on average in November (84 percent reported), taking the group’s performance for the year above five percent. Equity hedge funds dominated last month’s list of best performers in the Nordic Hedge Index.

Global equity markets, as measured by the FTSE World Index, rose by 3.8 percent in Euro terms last month. Nordic equities, as expressed by the VINX All-Share Index, returned 3.3 percent in Euro terms. The index includes all firms listed on Nasdaq OMX Nordic Exchanges and Oslo Börs. Eurozone equities were up 2.6 percent, whereas North American stocks gained 4.9 percent in Euro terms.

Based on preliminary estimates, Nordic equity hedge funds as a group outperformed their European and global peers last month. The Eurekahedge Long Short Equities Hedge Fund Index, which tracks the performance of 917 global equity hedge funds, gained 1.1 percent last month based on reported data from seven percent of index constituents. This group of global equity hedge funds gained 8.6 percent in the first 11 months of the year. European long/short equity funds, as expressed by the Eurekahedge Europe Long Short Equities Hedge Fund Index, gained 0.7 percent on average in November based on reported data from 12 percent of index constituents.

The dispersion between last month’s best- and worst-performing members of the NHX Equities increased relative to the previous month, mostly because of strong performance from the group in November. The top 20 percent of members gained 6.4 percent on average, whereas the bottom 20 percent lost 1.7 percent. In October, the top 20 percent was up 3.9 percent, and the bottom 20 percent was down 1.9 percent. Three in every four members of the NHX Equities posted gains last month.

In November, Rhenman Healthcare Equity L/S was the group’s best-performing member for a second consecutive month. The long-biased healthcare-focused equity fund gained 13 percent in November, which brought the fund’s year-to-date return to 33.4 percent. Symmetry Invest, a Danish long/short value equity fund that favors founder-led companies, followed suit with a gain of 10 percent. The fund managed by Andreas Aaen gained 40.8 percent in the first 11 months of 2019 and currently ranks as the second best-performing member of the Nordic Hedge Index in 2019.

Activist fund Accendo was up 8.5 percent in November and 37.6 percent year-to-date to the end of November. HCP Focus Fund, meanwhile, returned 6 percent last month, extending the fund’s year-to-date performance to 28.3 percent. After gaining 5.2 percent in November, Alcur Select’s 2019 performance reached 44.3 percent. Alcur Select, managed by portfolio manager Wilhelm Gruvberg, currently ranks as this year’s best-performing hedge fund in the Nordics.

Image by pasja1000 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

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.