NHX Performance Review - April 2017 Funds count: 157 Month in Review Nordic hedge funds, as expressed by the Nordic Hedge Index NHX, gained an estimated 0.57% in April (93% reported), bringing the year-to-date performance to 2.18%. The month was characterized by a positive sentiment overall for Nordic hedge funds with all NHX sub-categories but one showing positive returns. Equity and fixed income strategies performed particularly well with gains of 0.95% and 0.75% respectively. NHX CTA was the only category in negative territory by month-end showing a net loss of -0.25% and is also the only sub-strategy showing negative returns year-to-date (-2.28%). Among individual winners, the Gamma Iceland Opportunity Fund gained 5.1% on the month, closely followed by IPM Systematic and HCP Focus with gains of 4.7% and 4.6% respectively. Other funds standing out from the crowd in April included Inside Hedge (+4.48%, Mjeltevik Invest (+4.23%) and PriorNilsson Idea (+4.18%). Among negative performers during the month, the Minastir Currency Fund posted losses of 5.32% while Gramont Equity Opportunities Fund (-4.1%) and Alfa Axiom Fund (-4.03%) added to recent losses.
Sub-Strategy and Country-by-Country Performance 6%
5% 4%
4%
3% 2% 2% 0% 1% -2%
0%
-4%
-1% NHX Composite
NHX CTA
NHX Equities
MTD
NHX Fixed Income
NHX Multi-Strategy
NHX Fund O f Funds
NHX Denmark
NHX Finland
YTD
NHX Norway
MTD
The NHX Composite gained an estimated 0.57% in April with Equity (+0.95%) and Fixed Income (+0.75%) strategies leading the way. All sub-categories except CTA recorded positive returns for the month.
NHX Sweden
YTD
On a country-by-country level, Norway (+1.17%) was the strongest performer during the month followed by Sweden (+0.47%) and Denmark (+0.46%). Finland (+0.15%) continued to lag.
NHX Composite Historical Monthly Returns (93% updated NAVs) JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
Year
2017
0.05
1.26
0.29
0.57
2016
-1.06
0.33
0.27
0.38
0.55
0.12
1.37
0.01
0.22
-0.06
0.18
1.05
3.42
2015
2.27
1.35
0.9
-0.14
0.4
-1.45
1.2
-1.43
-0.46
0.8
1.65
-0.5
4.63
2014
0.29
1.67
-0.08
0.07
1.22
0.28
-0.04
0.75
0.08
-0.03
1.14
0.04
5.5
2013
1.82
0.59
0.52
0.55
0.77
-1.26
0.68
-0.42
1
1.39
0.97
0.98
7.82
2012
1.75
1.45
0.25
-0.04
-0.35
-0.48
1.86
0.35
0.25
-0.57
0.43
0.9
5.92
2011
-0.18
0.48
0.25
1.32
-0.92
-1.49
0.03
-1.82
-1.06
0.72
-0.43
0.56
-2.57
2010
0.31
0.08
1.81
0.79
-1.55
-0.69
0.7
0.37
1.62
1.06
0.31
3.31
8.35
2009
0.44
-0.32
1.12
2.46
2.97
0.04
1.96
1.51
1.73
0.17
0.74
0.61
14.22
2008
-1.13
1.84
-0.73
0.52
1.22
-1.24
-1.43
0.05
-4.28
-3.6
-0.58
-0.47
-9.53
2007
1.11
0.17
0.93
1.44
1.07
0.3
-0.38
-1.45
0.89
1.06
-1.49
0.3
3.96
2006
1.7
0.75
2.22
1.02
-1.26
-0.07
-0.22
0.97
0.67
1.01
1.42
1.99
10.62
2005
0.76
1.45
0.37
-0.57
1.25
1.68
1.52
0.51
1.72
-1.39
1.75
2.01
11.56
2.18
Nordic Business Media AB | Corporate No.: 556838-6170, Stockholm SE-103 89 | Phone: +46 (0) 8 5333 8688 | Email: kamran@hedgenordic.com There is a substantial risk of loss in trading commodity futures, options and off-exchange foreign currency products. Past performance is not indicative of future results.
NHX Performance Review - April 2017 Top Performing Managers - April 2017 MTD
YTD
Gamma Iceland Opportunity Fund
5.10
9.68
IPM Systematic Currency Fund
4.70
7.66
HCP Focus Fund
4.60
9.33
Inside Hedge
4.48
8.46
Mjeltevik Invest
4.23
PriorNilsson Idea Graal Kvanthedge
12M ROR
Total Return
St. Dev.
Sharpe
-
9.36
5.26
1.06
7.47
96.20
2.73
0.64
26.98
124.75
4.16
1.35
10.83
79.78
3.88
0.62
7.82
26.42
278.71
4.59
1.23
4.18
10.04
25.38
190.15
5.22
0.61
4.10
7.72
-1.76
214.10
3.49
0.70
Gamma Iceland Macro
4.00
7.91
-
7.95
4.65
1.02
Accendo
3.99
8.18
19.63
196.38
4.06
0.91
IPM Systematic Macro Fund
3.81
8.01
1.24
162.66
3.20
0.86
Top Performing Managers - Year To Date 2017 YTD
MTD
12M ROR
Total Return
St. Dev.
Sharpe
Rhenman Healthcare Equity L/S IC1 (EUR)
22.50
0.29
33.41
356.27
5.61
1.09
Atlant Edge
11.88
3.30
34.12
604.62
4.84
0.87
Storm Bond Fund
10.05
1.30
23.65
63.25
3.22
0.56
PriorNilsson Idea
10.04
4.18
25.38
190.15
5.22
0.61
Solidar SmartBeta
9.79
3.32
24.48
64.77
3.35
0.48
Gamma Iceland Opportunity Fund
9.68
5.10
-
9.36
5.26
1.06
VISIO Allocator Fund
9.64
2.94
18.33
110.88
2.52
1.26
KLP Alfa Global Energi
9.60
0.40
22.37
63.95
2.35
0.77
Atlant, Sharp Europe
9.44
3.40
19.95
3.40
4.35
0.21
HCP Focus Fund
9.33
4.60
26.98
124.75
4.16
1.35
Nordic Business Media AB | Corporate No.: 556838-6170, Stockholm SE-103 89 | Phone: +46 (0) 8 5333 8688 | Email: kamran@hedgenordic.com There is a substantial risk of loss in trading commodity futures, options and off-exchange foreign currency products. Past performance is not indicative of future results.
NHX Performance Review - April 2017 NHX Equity - Top Performing Managers - April 2017 MTD
YTD
12M ROR
Total Return
St. Dev.
Sharpe
HCP Focus Fund
4.60
9.33
26.98
124.75
4.16
1.35
Inside Hedge
4.48
8.46
10.83
79.78
3.88
0.62
Mjeltevik Invest
4.23
7.82
26.42
278.71
4.59
1.23
PriorNilsson Idea
4.18
10.04
25.38
190.15
5.22
0.61
Accendo
3.99
8.18
19.63
196.38
4.06
0.91
12M ROR
Total Return
St. Dev.
Sharpe
NHX Fixed Income - Top Performing Managers - April 2017 MTD
YTD
Gamma Iceland Macro
4.00
7.91
-
7.95
4.65
1.02
Asgard Fixed Income Fund
2.09
6.18
19.27
540.70
1.89
2.10
Borea, European Credit
1.36
8.73
20.50
56.99
1.75
1.43
Storm Bond Fund
1.30
10.05
23.65
63.25
3.22
0.56
Asgard Credit Fund
1.25
4.24
-
6.09
0.75
3.92
Total Return
St. Dev.
Sharpe
NHX Multi Strategy - Top Performing Managers - April 2017 MTD
YTD
12M ROR
Gamma Iceland Opportunity Fund
5.10
9.68
-
9.36
5.26
1.06
Graal Kvanthedge
4.10
7.72
-1.76
214.10
3.49
0.70
Systematic Capital MuLTi
3.51
8.25
17.58
82.80
1.70
0.88
Coeli, Prognosis Machines
3.25
-0.92
-0.86
-8.92
3.95
-0.39
VISIO Allocator Fund
2.94
9.64
18.33
110.88
2.52
1.26
NHX Managed Futures & CTA - Top Performing Managers - April 2017 MTD
YTD
12M ROR
Total Return
St. Dev.
Sharpe
IPM Systematic Currency Fund
4.70
7.66
7.47
96.20
2.73
0.64
IPM Systematic Macro Fund
3.81
8.01
1.24
162.66
3.20
0.86
Estlander & Partners, Presto
1.23
6.98
9.13
-5.27
2.88
-0.10
Estlander & Partners Alpha Trend II - Class P
0.25
-19.18
-35.67
-30.65
11.10
0.08
SEB, AS Opportunistic
0.22
-1.44
4.34
49.30
4.50
0.40
NHX Fund of Funds - Top Performing Managers - April 2017 MTD
YTD
12M ROR
Total Return
St. Dev.
Sharpe
Graal Total
1.10
1.80
0.61
122.38
1.40
1.13
Atlant Multi-Strategy Internal
0.80
3.44
8.21
6.09
1.08
1.20
Coeli Multistrategi
0.67
-0.05
-1.61
45.03
0.92
0.90
AIM Diversified Strategies
0.66
1.11
3.55
34.47
0.90
1.25
Agenta Multistrategy
0.63
1.72
-0.09
31.29
1.11
0.67
Nordic Business Media AB | Corporate No.: 556838-6170, Stockholm SE-103 89 | Phone: +46 (0) 8 5333 8688 | Email: kamran@hedgenordic.com There is a substantial risk of loss in trading commodity futures, options and off-exchange foreign currency products. Past performance is not indicative of future results.
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Nordic Business Media AB | Corporate No.: 556838-6170, Stockholm SE-103 89 | Phone: +46 (0) 8 5333 8688 | Email: kamran@hedgenordic.com There is a substantial risk of loss in trading commodity futures, options and off-exchange foreign currency products. Past performance is not indicative of future results.