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NHX Performance Review - May 2014 Month in Review Nordic hedge funds gained an estimated 1.17% in May bringing the NHX Composite to a year-to-date performance of 2.40%. The month saw strong returns across all NHX sub-strategies. Managed Futures was the best performing strategy rebounding strongly after a period of weak ­numbers. Equity funds continued to do well on the back of a strong rally in global stock markets.

Sub-Strategy & Country-by-Country Performance The NHX Composite gained in May supported by strong returns in Managed Futures and ­Equity focused strategies.

5.0% 4.0% 3.0%

NHX Equities is the best performing strategy on the year (+4.04%) followed by multi s­ trategy (+3.40%) and fixed income funds (+3.25%).

2.0% 1.0% 0.0%

Despite a strong rally in May (+2.61%), ­Managed Futures is still in negative territory for 2014 (-3.21%).

-1.0% -2.0% -3.0% -4.0% NHX Composite

NHX Equities

NHX Fixed Income NHX Multi Strategy MTD

YTD

MTD

YTD

NHX Managed Futures & CTA

NHX Fund of Funds

4.5%

On a country-by-country level, Finland and Denmark were the strongest performers ­during the month.

4.0% 3.5%

Denmark is the best performing country on the year.

3.0% 2.5% 2.0% 1.5% 1.0% 0.5% 0.0% NHX Sweden

NHX Norway

NHX Denmark

NHX Finland

NHX Composite Historical Monthly Returns Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

YTD

2014

0.1%

1.5%

-0.2%

0.0%

1.17%

2013

1.9%

0.4%

0.1%

0.6%

0.7%

-1.1%

0.6%

-0.4%

1.1%

1.2%

1.1%

0.9%

7.6%

2012

1.7%

1.3%

0.0%

-0.2%

-0.5%

-1.4%

2.0%

0.4%

0.1%

-0.4%

0.3%

1.0%

4.4%

2011

-0.4%

0.3%

0.4%

1.3%

-0.9%

-1.3%

-0.1%

-1.8%

-1.2%

0.3%

-0.3%

0.3%

-3.5%

2010

0.4%

-0.1%

1.5%

0.8%

-1.8%

-0.7%

0.6%

0.1%

1.4%

0.8%

0.0%

3.1%

6.2%

2009

0.8%

0.1%

1.5%

3.2%

2.3%

0.3%

1.4%

1.3%

1.5%

0.2%

0.5%

1.0%

15.0%

2008

-1.2%

1.3%

-0.9%

0.1%

1.2%

-1.8%

-1.2%

-0.2%

-4.5%

-3.5%

-0.6%

-0.3%

-11.1%

2007

0.7%

0.0%

0.9%

1.4%

1.1%

0.2%

-0.4%

-1.8%

1.0%

1.3%

-1.6%

0.2%

2.8%

2006

1.5%

0.6%

1.7%

1.1%

-1.5%

-0.3%

-0.1%

0.6%

0.2%

0.7%

1.4%

1.8%

7.9%

2005

0.3%

1.2%

-0.1%

-0.1%

1.2%

1.9%

1.4%

0.7%

1.5%

-1.7%

1.6%

1.8%

10.1%

2.4%


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