Little change for Nordic hedge funds in March

Stockholm ( – Nordic hedgefunds closed March with little change, the Nordic Hedge Index ending with a slight gain of 0,1%, according to the HedgeNordic database. 87% of funds have reported their numbers. The Index gained 2,38% in the first quarter.

On a country basis, Finland leads the way up 0,24% in March or 5,49% for the first quarter of 2013, largely drawn by strong performance of CTA Estlander & Partners. NHX Denmark gained 0,11% in March (1,03% Q1/13), NHX Sweden, the largest group representing 71 funds returned 0,18% in March (1,87% Q1/13). While Norwegian managers are up a strong 3,39% for the first quarter, they are the only region in the Nordics returning negative in March, down 0,27%.

Fixed Income strategies advanced the strongest in March, up 0,89% followed by CTAs gaining 0,56% for the month, and fund of hedge funds, up 0,27%. Equity strategies lost 0,13% while multi strategy funds were the biggest losers, giving up 0,25%.

For the first quarter, the CTA sub-index advanced the strongest, gaining 3,84% followed by fixed income (+2,77%) and equity strategies (+2,69%). With multi strategy funds up 0,72% and fund of funds in the green by 1,69%, all NHX sub indices recorded green numbers.

Rhenman & Partners Healthcare Equity L/S, who also won “Best Nordic Equity Focused HedgeFund” at the 2012 Nordic Hedge Award advanced the most of all 122 funds in the HedgeNordic databases in March, up 7,75% or over 20% for the year, followed by Norwegian Sector Zen up 7,73% in March (14,14% Q1) and Estlander and Partner Alpha Trend II, gaining 5,37% in March and leading the tables for Q1/13, up more than 38%.

Best performing Swedish hedgefunds across all categories for Q1 2013 are Rhenman Healthcare Equity L/S (+20,76%), Traction Small Cap (+10,03%), Atlant Edge (+9%) Gladiator Fund (+8,9%) and Nordic Absolute Return Fund (8,68%). The top five places are taken by hedgefunds following equity strategies, the best performing non-equity fund is Alandsbankens multi strategy fund AGPII – Defined Risk 12, gaining 6,37%. At the bottom of the table is DNB Eco Absolute return, which lost 5% in March and is down by over 15% for the first quarter.90% of all Swedish hedgefund managers have reported their March NAV.

Two funds will be removed from the NHX in May: The only Icelandic hedgefund, Verto Recovery Fund and Finish CTA Taaleritehdas Commodity Fund.

Picture: (c) tony740607—