Stockholm (HedgeNordic) – The Swedish hedge fund giant Brummer & Partners have been struggling during 2016, with negative numbers every month for their flagship fund Brummer Multi-Strategy (BMS) up until June. A struggle that has taken it’s toll on their reputation. BMS has had negative monthly returns since August 2015 (except for Nov-Dec 2015) and continued on the negative path this year.
In June they where saved by the bell and managed to recover +2,28%, with two of the “old timers” within the group – Lynx and Manticore – delivering strong results. The CTA manager Lynx made a significant recovery during the month, +10,23%, after three consecutive months with negative returns, moving their full year number to +10,0%. The US based tech manager Manticore also had a very good month, delivering +4,68%, however still in negative territory for the full year at -4,15%.
The other funds within BMS had mixed results, with Bodenholm, Florin Court and Observatory delivering positive numbers, while Nektar and newcomer Talarium being on the negative side.
For 2016, BMS is still in the red, with -1,58% for the full year.
Picture (c):Romolo-Tavani—shutterstock.com
