NHX Performance Review - November 2016 Funds count: 154 Month in Review Nordic hedge funds, as expressed by the Nordic Hedge Index NHX, gained an estimated 0.17% in November, bringing year-to-date performance to +2.34%. In terms of strategy attribution, gains were made in Equity hedge strategies, Fixed Income and CTAs, whereas Fund of Funds and Multi-Strategy posted losses. For the year, Fixed Income strategies outpace other strategy groups by a wide margin with net gains of 7.32% followed by Equity and Multi-Strategy gaining 2.75% and 1.64% respectively. The only strategy group posting losses for the year is Fund of Funds showing a negative 1.62% return.
Sub-Strategy and Country-by-Country Performance 8%
8%
6%
6%
4%
4%
2%
2%
0%
0%
-2%
-2% NHX CTA
NHX Equities
NHX Fixed Income
MTD
NHX Multi-Strategy
NHX Fund O f Funds
NHX Composite
NHX Denmark
NHX Finland
YTD
NHX Norway
MTD
The NHX Composite gained an estimated 0.17% in November with equities (+0.83%) strategies leading the way. Fixed income (+0.39) and CTA (+0.12%) strategies were also positive on the month while Multi-Strategy (-0.74%) and Fund of Funds (-0.47%) ended the month in the red.
NHX Sweden
YTD
On a country-by-country level, Finland was the strongest performer boosted by a strong showing from Finnish CTA Estlander and Partners. Denmark and Norway were also in positive territory by month-end while Sweden posted a slight loss. Year-to-date, Denmark is a clear leader given its reliance on fixed income strategies.
NHX Composite Historical Monthly Returns (85% updated NAVs) JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
2016
-1.07
0.36
0.28
0.37
0.55
0.14
1.38
0
0.21
-0.07
0.17
DEC
Year
2015
2.3
1.37
0.9
-0.13
0.4
-1.48
1.2
-1.46
-0.47
0.8
1.67
-0.5
4.62
2014
0.3
1.69
-0.09
0.07
1.24
0.27
-0.06
0.75
0.06
-0.03
1.15
0.03
5.48
2013
1.83
0.59
0.52
0.55
0.77
-1.29
0.68
-0.43
1
1.4
0.97
0.99
7.83
2012
1.76
1.46
0.25
-0.05
-0.36
-0.5
1.87
0.33
0.23
-0.58
0.43
0.9
5.85
2011
-0.2
0.47
0.26
1.32
-0.93
-1.5
0.02
-1.82
-1.05
0.71
-0.43
0.56
-2.59
2010
0.3
0.08
1.82
0.78
-1.56
-0.69
0.71
0.37
1.63
1.07
0.32
3.32
8.35
2009
0.44
-0.32
1.12
2.46
2.97
0.04
1.96
1.51
1.73
0.16
0.74
0.61
14.21
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
1.98
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
2.34
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.