- Advertisement -

Related

January’s Leaders Amid Dispersion

- Advertisement -

Stockholm (HedgeNordic) – After returning 6.4 percent on average last year, Nordic equity hedge funds gained 0.3 percent in January (92 percent reported). There was noticeable dispersion of returns across funds, as the top 20 percent returned 4.1 percent on average while the bottom 20 percent lost 3.9 percent.

Global equity markets, as measured by the FTSE World Index, rose by 0.3 percent in Euro terms last month. Nordic equities, as expressed by the VINX All-Share Index, returned a negative 0.1 percent in Euro terms. The index includes all firms listed on Nasdaq OMX Nordic Exchanges and Oslo Börs. Eurozone equities were down 1.7 percent, whereas North American stocks gained 1.7 percent in Euro terms.

Based on preliminary estimates, both European and global equity hedge funds incurred losses in January. The Eurekahedge Long Short Equities Hedge Fund Index, which tracks the performance of over 900 global equity hedge funds, was down 0.4 percent last month based on reported data from 30 percent of index constituents. European equity hedge funds, as expressed by the Eurekahedge Europe Long Short Equities Hedge Fund Index, lost 0.3 percent on average based on reported data from 30 percent of index constituents.

The dispersion between last month’s best- and worst-performing members of the NHX Equities was somewhat higher than in the previous months. The top 20 percent of members gained 4.1 percent on average, whereas the bottom 20 percent was down 3.9 percent. Approximately half of the members of the NHX Equities posted gains in January.

Systematic market-neutral fund QQM Equity Hedge was the best-performing fund in the Nordic Hedge Index last month. The fund managed by Ola Björkmo and Jonas Sandefeldt returned 5.8 percent in January. Activist fund Accendo closely followed suit with a January return of 5.4 percent. Stockholm-based long/short equity fund Gladiator Fond was up 5.1 percent, while HCP Focus Fund and Adrigo Small & Midcap L/S gained 4.7 percent and 4.0 percent, respectively.

 

Photo by Glen Carrie 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

Elo’s Slow-Moving Hedge Fund Portfolio Built Around Access

Soon after Kari Vatanen joined Finnish pension insurer Elo as Head of Asset Allocation and Alternatives, he praised the team behind the firm’s hedge...

The New Coda: From Intuition to a Unified Investment Process

Peter Andersland is best known in the Nordic hedge fund space as the co-founder of Sector Asset Management, where he remains a shareholder. While...

When Diversification Fails: Qblue’s Case for Alternative Risk Premia

The notion that a traditional 60/40 portfolio offers meaningful diversification has long been questioned by practitioners. When implementing the Total Portfolio Approach at Danish...

Tidan NOVA Profiting from Volatility Skew as Market Participants Seek Protection

Tidan Capital’s evolution into a multi-strategy platform reflects a broader effort to deliver complementary sources of alpha, with its NOVA strategy serving as a...

Extracting Alpha from the Factor Zoo Through Systematic Investing

There are multiple ways to approach equity investing and, ultimately, the pursuit of alpha. While many strategies rely on market direction or discretionary stock...

Apoteket CIO Leans on Hedge Funds for High Sharpe

Gustav Karner, Chief Investment Officer of Apoteket’s Pension Fund since 2017, has delivered one of the highest Sharpe ratios among Sweden’s largest institutional investors,...

Allocator Interviews

In-Depth: Diversification

- Advertisement -

Voices

Request for Proposal

- Advertisement -