- Advertisement -
- Advertisement -

Related

Nordic Industry Loses Another FoHFs

Industry Report

- Advertisement -

Stockholm (HedgeNordic) – After 24 Nordic funds of hedge funds closed their doors over the past five years, London-based International Asset Management (IAM) has announced the decision to liquidate its Nordic-focused fund of hedge funds. IAM Nordic Multi Strategy Fund, which invests in hedge funds tied to the Nordic countries, will be closed down after accumulating an inception-to-date loss of about 14 percent since launching in May of 2017.

“During the first quarter of this year, we decided that our fund should be closed,” writes a letter to investors. During the almost three years since the fund’s inception, “we have not delivered the expected returns that we or our investors had expected.” Just like many other investors, funds and hedge funds, IAM Nordic Multi Strategy Fund was particularly hit during the turbulent month of March. The fund was down 7.5 percent last month. “It feels particularly sad that during the last months of the fund we were affected by the events in March and we were unable to deliver a better result,” writes the letter.

Of the eight funds in IAM Nordic Multi Strategy Fund’s portfolio, only one long/short equity fund managed to deliver a positive return in March. “We considered that the portfolio contained some funds that, under a similar negative scenario, would be able to resist better,” writes the letter. Too few of these funds managed to navigate the turmoil unscathed.

IAM Nordic Multi Strategy Fund was launched by London-based International Asset Management (IAM), an independent asset management firm specialising in hedge funds and alternative UCITS vehicles, in May 2017. The fund has seen its assets under management decline from more than €50 million in 2018 to €27 million at the end of February this year.

 

Photo by Tim Mossholder 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

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.