- Advertisement -
- Advertisement -

Related

Nordic CTAs Caught Up in the Wrong Trends

Report: Alternative Fixed Income

- Advertisement -

Stockholm (HedgeNordic) – Nordic trend-following hedge funds started off 2019 on the wrong foot, as both stock and crude oil prices reversed the negative trends shaping up in the latter part of last year. Nordic CTAs, as expressed by the NHX CTA, had the worst month of all sub-categories in January, falling 1.5 percent on average.

Speedometer: The January performance of the NHX CTA Index relative to its best and worst monthly performance since 2010. Source: HedgeNordic.

The world’s largest CTA vehicles did not enjoy a great start to the year either. The Société Générale CTA Index, which tracks the performance of the largest 20 CTAs in the world including three members of the Nordic Hedge Index (NHX), declined 1.9 percent in January. The Barclay BTOP50 Index, composed of a slightly different group of large CTA funds, fell 1.8 percent. The broader Barclay CTA Index, which incorporates 541 vehicles, was down an estimated 0.4 percent, based on data from 72 percent of the group.

One in every three members of the NHX CTA registered positive returns in January. IPM Systematic Currency Fund and Innolab Capital Index were two of the biggest gainers. IPM’s Systematic Currency strategy gained 4.5 percent, reflecting substantial gains from its developed markets currency portfolio. The vehicle’s short Swiss Franc (CHF) and long Pounds Sterling (GBP) positions were the main contributors to last month’s performance.

Innolab Capital Index, which uses an autonomous investment robot to predict market movements in major stock market indices, was up 3.2 percent last month. Estlander & Partners Presto, which employs systematic short-term trend-following models, gained 2.3 percent. Its short-term focus helped the fund gain 8 percent last year when most trend-followers struggled. Runestone Capital Fund, which invests in US equity index volatility on a one-day forward basis based on statistical probabilities, gained 1.2 percent in the first month of the year.

 

Picture © Ollyy—shutterstock

Subscribe to HedgeBrev, HedgeNordic’s weekly newsletter, and never miss the latest news!

Our newsletter is sent once a week, every Friday.

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

Latest Articles

Asilo Argo Shifts Portfolio Focus Toward AI

Stockholm (HedgeNordic) – At Asilo Argo, portfolio managers Ernst Grönblom and Henri Blomster employ a high-conviction strategy aimed at identifying “future superstar” stocks. With...

Tessin Doubles Stake in Alfakraft Fonder

Stockholm (HedgeNordic) – Tessin, a Swedish digital investment platform for real estate financing, has agreed to double its stake in alternative asset manager Alfakraft...

Tech Power-Up for Tidan with CTO Appointment

Stockholm (HedgeNordic) – Tidan Capital has transformed from a single-strategy fund into a multi-fund boutique, a shift that demands robust technology infrastructure. To support...

Five Years In: From Quiet Start to Strong Finish

Stockholm (HedgeNordic) – Nordea Asset Management’s Copenhagen-based office is home to a team of portfolio managers and analysts dedicated to capturing relative-value opportunities in...

Month in Review – November 2024

Stockholm (HedgeNordic) – As the year approaches its end, the Nordic hedge fund industry is on track for its third-best performance on record and...

Origo Fonder Shifts Gears with Per Johansson as Co-CIO

The summer of 2024 brought an injection of momentum for fund boutique Origo Fonder, as Bodenholm founder Per Johansson joined as Co-Chief Investment Officer...

Allocator Interviews

In-Depth: Megatrends

Voices

Request for Proposal

- Advertisement -