- Advertisement -
- Advertisement -

Related

Startups Offset Growing Number of Closures

Latest Report

- Advertisement -

Stockholm (HedgeNordic) – Fund closures and startups are an integral part of any hedge fund industry’s evolution. The number of Nordic hedge funds declined severely in 2019 as a result of 29 closures and fewer startups. The number of active funds remained relatively stable so far in 2020, as four new launches offset a growing number of closures.

In the Nordic hedge fund universe, a total of seven funds closed down or are in the process of closing down so far this year. Announced in late March, the liquidation of Swedish hedge fund manager Bodenholm Capital is the highest-profile closure in the Nordics this year. DNB Asset Management has liquidated DNB ECO Absolute Return, a market-neutral equity fund focused on the renewable energy and energy efficiency sectors, due to its small size and unsatisfactory performance.

Northern Star MG Relative Value, which employed commodity option trading strategies, was closed down in January this year. Multi-asset, multi-strategy fund Pacific Multi Asset was merged into Pacific Precious at the end of March. Norwegian Espen Westeren said earlier this year that his Titan Opportunities Fund was shutting down. SEB Alternative Fixed Income, a macro and relative-value hedge fund, has also been put into liquidation. Most recently, London-based International Asset Management (IAM) announced the decision to liquidate its Nordic-focused fund of hedge funds, IAM Nordic Multi Strategy Fund.

Although the rate of closures picked up last year and continues into 2020, there are always infusions of fresh blood in the Nordic hedge fund industry. DNB Asset Management launched a multi-strategy, multi-asset absolute return fund – DNB Fund Multi Asset – in February. Stefan Åsbrink partnered with Coeli Asset Management to launch global long/short equity fund Coeli Multi Asset on the last day of December.

Frost, a fixed-income-focused relative value fund managed by former employees at the now-closed Nektar, was launched at the beginning of January. Finnish asset manager Northern Star Partners also launched trend-following fund NS Quant shortly before the coronavirus-induced market turmoil.

The four new launches performed strongly during the turbulent first quarter of 2020. NS Quant, for instance, gained a cumulative 11.6 percent in February and March. Frost was down a mere 1.2 percent in the first quarter, while Coeli Multi Asset was up 0.2 percent during the three-month period ending March. DNB Fund Multi Asset, meanwhile, was down about five percent in the first quarter.

Photo by ian dooley 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

Mapping the Finnish Hedge Fund Landscape

Beyond operating as a media platform, HedgeNordic maintains an extensive database of Nordic hedge funds and related data. Although the data is not without...

Quirky Questions for Serge Houles (Tidan Capital)

Not every conversation in the hedge fund world needs to revolve around alpha, Sharpe ratios, or fund flows. In the ongoing Quirky Questions series,...

Quirky Questions for Mette Østerbye Vejen (Caba Capital)

Not every conversation in the hedge fund world needs to revolve around alpha, Sharpe ratios, or fund flows. In the ongoing Quirky Questions series,...

Solid First-Half Finish for Nordic Hedge Funds

Nordic hedge funds wrapped up the first half of the year on a solid note, delivering an average gain of 1.4 percent in June....

Brevan Howard Winds Down Volatility Fund Managed by Ville Helske

Brevan Howard Asset Management is winding down a volatility-focused hedge fund run by high-profile Finnish portfolio manager Ville Helske. Helske, formerly Head of Allocation...

Ymer to Launch Fourth CLO Fund with Proven Strategy and Structure

Building on the track record of three previous credit funds, Swedish alternative credit specialist Ymer SC AB is preparing to roll out its fourth...

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.