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Atlant Högräntefond Leads Peers on Third Anniversary

Report: Systematic Strategies

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Stockholm (HedgeNordic) – Around mid-March 2021, Swedish hedge fund boutique Atlant Fonder launched a UCITS-structured fixed-income fund investing in Nordic corporate bonds, drawing from the corporate bond investment philosophy and experience from their alternative funds. Fast forward three years, Atlant Högräntefond is celebrating its three-year anniversary this March with a year-to-date advance of 7.4 percent through March 22, leading its Morningstar category of over 100 peers.

“Atlant Högräntefond turns three years old and celebrates by emerging as the top-performing fixed-income fund in its Morningstar category this year with an exceptional rise of 7.4 percent,” says Michael Ekelund (pictured), CEO of Atlant Fonder. “Even over a one-year horizon, Atlant Högräntefond has achieved the highest return of 12.3 percent among its peers.” The fund has witnessed a nearly twofold increase in assets under management this year, from under SEK 100 million at the end of 2023 to about SEK 197 million at the end of February. With gains of 4.4 percent in the first two months of 2024 and an additional 2.8 percent month to date, Atlant Högräntefond has accumulated a cumulative return of 11.4 percent since inception.

“Atlant Högräntefond turns three years old and celebrates by emerging as the top-performing fixed-income fund in its Morningstar category this year…”

Launched in March 2021, Atlant Högräntefond serves as an alternative for investors seeking exposure to Sweden’s immature, illiquid, and occasionally dysfunctional corporate bond market. Managed by Taner Pikdöken, Nikos Georgelis, and Anders Kullberg, the fund primarily invests in Nordic corporate bonds. The investment philosophy is based on the experience accumulated from the corporate bond management in Atlant Fonder’s other funds, classified as alternative investment funds. Registered as a daily priced UCITS corporate bond fund, Atlant Högräntefond is poised to soon receive Morningstar grading stars, representing the first fund within the Atlant Fonder product range to qualify for Morningstar’s star grading system.

Atlant Högräntefond is actively managed, with the portfolio management team seeking to identify attractively priced individual bonds offering the potential for substantial returns. This entails a more trade-intensive strategy that can enhance returns if executed correctly. For instance, this year’s 7.4 percent gain reflects opportunistic bond purchases by the Atlant Fonder team. “This year’s rise is attributed, among other things, to the fact that fund manager Taner Pikdöken bought bonds in Heimstaden Bostad cheaply, receiving a good return as the bonds appreciated,” explains Ekelund. “Even some shorter trades have contributed to the overall return. Recent market development has been very favorable for this kind of instruments, and we hope we will be able to continue to deliver a good return to shareholders in the fund.”

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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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