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Mixed May for CTAs as Lynx Stays Top

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Stockholm (HedgeNordic) – After two consecutive months of strong returns, Nordic CTAs edged down 0.5 percent in May to trim the group’s year-to-date advance to 5.3 percent. A handful of Nordic trend-following funds not only outperformed traditional asset classes so far in 2022 but also their hedge fund peers, with Lynx and RPM Evolving CTA Fund currently ranking as this year’s best-performing funds within the Nordic hedge fund universe.

Zooming in on the group’s performance in May, pure-commodity trend-following Calculo Evolution Fund booked a monthly gain of 1.2 percent last month to extend its year-to-date advance to 13.1 percent. Calculo Evolution Fund has enjoyed its fifth consecutive month of positive performance, as wheat contributed the most to the fund’s May return due to rising fears of a global shortage due to the war in Ukraine – the world’s sixth-largest wheat exporter. Calculo Evolution Fund currently ranks among the top ten best-performing hedge funds within the Nordic Hedge Index.

Chart by Visualizer

Lynx Asset Management’s systematic trend-following vehicle, Lynx (Sweden), gained 1.1 percent in May to book its fifth consecutive month of positive performance. The trend-following vehicle, Sweden’s oldest hedge fund, currently ranks as the best-performing member of the Nordic Hedge Index with a return of 29.3 percent in the first five months of 2022. The year-to-date advance has brought Lynx (Sweden)’s annualized return since launching in 2000 to 10.1 percent.

Estlander & Partners’ legacy trend-following strategy Alpha Trend also finished the month of May in the green with an advance of 0.5 percent. Estlander & Partners Alpha Trend Program has also enjoyed five consecutive months of positive performance, with the strategy gaining 7.9 percent during these five months. Estlander & Partners’ other two vehicles, Glacies and Freedom, finished the month of May in the red.

RPM Evolving CTA Fund ended the month of May down 1.6 percent, its first negative month in 2022, as profits in energies were outweighed by losses elsewhere amid several intra-month reversals. The multi-CTA fund returned 23.5 percent in the first five months of the year, ranking as this year’s second-best performing member of the Nordic Hedge Index universe. The fund managed by CTA specialist RPM Risk & Portfolio Management invests in a select group of young CTA managers in their “Evolving Phase.”

 

Photo by Annie Spratt on Unsplash

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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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