Adaptive Goes Bankrupt

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Stockholm (HedgeNordic) – Linköping-based fund manager Adaptive Fonder AB has gone into bankruptcy due to insolvency, according to COO Gustaf Lange and Allabolag.se. Adaptive Fonder had been running the market-neutral equity fund Adaptive Paradigm Alpha. The scheduled re-launch of Alexander Hyll’s Adaptive Paradigm Alpha as a fully authorized alternative investment fund under the umbrella of Adaptive Hedge Fund Management AB has been canceled and the paradigm-focused market-neutral strategy is no longer in operation.

“Adaptive Fonder AB, the company managing the registered alternative investment fund Adaptive Paradigm Alpha, has gone into bankruptcy,” Lange informs HedgeNordic. “The reason behind the bankruptcy is that the company is in insolvency, which is not temporary,” he adds. “The bankruptcy manager/trustee will investigate the details around the bankruptcy.”

“Adaptive Fonder AB, the company managing the registered alternative investment fund Adaptive Paradigm Alpha, has gone into bankruptcy.”

Launched in early 2020, Adaptive Paradigm Alpha was initially registered as an alternative investment fund with the Swedish Finansinspektionen, with the fund’s management company – Adaptive Fonder AB – operating as a sub-threshold alternative investment fund manager. Following two years of management, several additions to the organization and receiving the backing of high-profile names such as IPM founder Anders Lindell – who joined as co-owner and board chairman of the subsidiary Adaptive Hedge Fund Management AB, Hyll and his team prepared for the launch of a fully authorized alternative investment fund with the same strategy and name during the second quarter of this year.

Adaptive Hedge Fund Management AB received authorization from Finansinspektionen as a full-scope Alternative Investment Fund Manager earlier this year, thereby broadening the potential investor base for Adaptive Paradigm Alpha. “The fund was due to be re-launched by Adaptive Hedge Fund Management, originally planned to occur in May 2022,” explains Lange. “However, the launch of the fund was delayed, and operations never begun in Adaptive Hedge Fund Management AB.”

“The fund was due to be re-launched by Adaptive Hedge Fund Management, originally planned to occur in May 2022. However, the launch of the fund was delayed, and operations never begun…”

Alexander Hyll has been running a market-neutral long/short equity strategy to capitalize on paradigm shifts, which he defined as measurable causal relationships between structural trends. According to figures reported by the Adaptive team, Adaptive Paradigm Alpha delivered an annualized return of about 9.0 percent from January 2020 through the end of June 2022. The fund gained 10.3 percent in its first full year of operation, followed by a 9.2 percent advance in 2021 and a 2.8 percent gain in the first half of 2022. The closure of Adaptive Paradigm Alpha as a result of Adaptive Fonder’s bankruptcy is the sixth registered hedge fund closure in the Nordics so far in 2022.

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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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