Nordic hedge funds appear to have rebounded during March, having turned in a preliminary composite result of 0.93 percent, a marked increase from February’s -0.01 percent. For the first time in six months, Nordic funds have seemingly outperformed their international peers.
From a country perspective, it is the Danish hedge funds that appear to have gotten through the month the strongest, pulling in a composite result of 1.36 percent for the NHX Denmark subindex. The primary driver for this result is that the majority of the funds, regardless of strategy bias, were able to perform in the positive spectrum, with Jyske Invests market neutral equity fund turning in a healthy 5.03 percent return to lead the pack.
From a strategy perspective, the Nordic equity hedge funds came out of March in a clear front position with a 1.41 percent result for the NHX Equities subindex. The subindex result is due to many funds performing positively, with a relatively large group of seven funds producing returns of 3 percent and above.
The three strongest equity funds are the Swedish Gladiator Fund with a 5.21 percent return, the Danish Jyske Invest fund with 5.03 percent and Bergsgrd Petersson’s newly launched Nordic equity fund BP Nordic Hedge, which returned 4.49 percent.
The sensible performance of Nordic hedge funds mirrors that of their international counterparts. According to calculations made by Greenwich Alternative Investments, around 84 percent of hedge funds had positive returns during the month.