- Advertisement -
- Advertisement -

Nordic Industry Loses Another FoHFs

- 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

close

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

Most Popular This Week

Request for Proposal

- Advertisement -

Latest Articles

Expected 75 Point Hike in Riksbank Rate

Stockholm (HedgeNordic) – Sweden’s Riksbank raised the key interest rate by an expected 75 basis points to 2.5 percent, the highest level since 2008....

The Age of Macro is Back

Stockholm (HedgeNordic) – In recent years, fixed-income macro managers such as Carlsson Norén have struggled to deliver attractive absolute returns in a low-volatility environment...

Man AHL Launches its First Systematic Article 9 Fund

Stockholm (HedgeNordic) – Man Group’s quantitative investment arm and engine, Man AHL, has launched the asset manager’s first systematic Article 9 fund. Relying on...

Corporate Bonds are Very Attractive Finds Atlant Fonder

Stockholm (HedgeNordic) – This year’s broad sell-off in the bond market due to aggressive monetary tightening in the fight against inflation may have investors...

Afalon’s Holistic Approach Amid Fund Closure

Stockholm (HedgeNordic) –  Finnish asset manager Afalon Investment Management has called time on its hedge fund that sought to identify investments aligned with sustainability...

HedgeNordic’s CTA Roundtable Back in the Flesh

Stockholm (HedgeNordic) – On November 17, 2022, HedgeNordic hosted its traditional, annual CTA roundtable in Stockholm. After two years in a virtual format, it...