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Galaxy Reaches End of Road

Report: Systematic Strategies

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Stockholm (HedgeNordic) – Despite making this year’s list of top ten best performing hedge funds in the Nordics, RPM Risk & Portfolio Management’s RPM Galaxy has been merged into the Swedish CTA specialist’s second vehicle due to limited investor interest. RPM Galaxy, a fund of funds seeking to invest in large and established CTA managers, has been merged into RPM Evolving CTA Fund.

“In spite of the almost stellar performance of Galaxy over the last 12 months or so, investor interest simply wasn’t there.”

“In spite of the almost stellar performance of Galaxy over the last 12 months or so, investor interest simply wasn’t there,” says RPM’s owner, founder and CEO, Mikael Stenbom. RPM Galaxy gained 27.2 percent in the first ten months of this year, currently ranking among the ten best performing Nordic hedge funds within the Nordic Hedge Index this year. “The fund was too small for its fixed costs such audit, admin expenses, etc., so we decided to merge Galaxy with Evolving – a process that was completed a few weeks ago.”

“The fund was too small for its fixed costs such audit, admin expenses, etc., so we decided to merge Galaxy with Evolving – a process that was completed a few weeks ago.”

RPM’s other vehicle, RPM Evolving CTA Fund, invests in a select group of young CTAs in their “Evolving Phase,” the most dynamic and competitive phase of their life-cycle. Currently overseeing SEK 410 million in assets under management, RPM Evolving CTA Fund has delivered a cumulative return of 10.4 percent over the past 36 months through the end of November this year after booking a loss of 4.5 percent in the first 11 months of the year. RPM Evolving CTA Fund took the third step on the podium in the “Best Nordic CTA” category at the 2020 Nordic Hedge Award.

“We identify and allocate to managers that typically go unnoticed by larger institutional investors that traditionally prefer managers with large assets under management,” Mikael Stenbom previously explained RPM Evolving CTA Fund’s approach to investing. The fund ended 2020 up 6.7 percent after gaining 4.5 percent in 2019. The fund’s November decline of 5.4 percent brought its year-to-date performance in negative territory at 4.5 percent.

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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

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