Taiga Fund

Taiga Fund Management AS

Strategy Description

Taiga Fund is a long-short long-biased equity fund seeking to identify attractive investment opportunities in companies experiencing significant mispricing of their equity securities. The employs a value-driven investing approach and maintains a concentrated portfolio that typically consists of core long holdings, smaller value plays, and opportunistic short positions. The fund primarily takes long positions in undervalued companies but also takes short positions in companies anticipated to face near-term equity price deterioration. Investments in non-listed securities are also considered, as the fund seeks to exploit discrepancies between public and private markets. 

Fund Information

General Information

NHX CategoryEquities
NHX CountryNorway
Legal StructureQIAIF
Fund DomicileIreland
Minimum Investment100,000 EUR
AUM150M EUR
Inception DateJul 2009
Management Fee1.80%
Performance Fee20.00%
SFDR Classification -

Company Information

CompanyTaiga Fund Management AS
Investor RelationsElin Wallin Tørre
AddressDronning Mauds Gate 3
Oslo, 0250
Phone+47 23 01 25 50
E-mail[email protected]
Websitewww.taigafund.no
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 0.13 1.58 5.33 -0.05 4.42 -2.04 -0.18 2.01 -0.66 -2.65 -1.25 2.86 9.56
2023 4.99 4.42 -0.66 0.13 -6.24 3.83 -4.35 -1.89 -0.84 -4.20 1.83 3.88 0.11
2022 -1.72 -3.12 2.67 3.81 -2.05 -3.21 1.26 -1.11 -4.94 0.61 2.41 -1.23 -6.80
2021 -4.14 2.63 4.44 4.06 -0.41 0.13 2.04 0.12 -3.94 0.30 -3.51 3.02 4.32
2020 -1.02 -2.24 -16.33 6.89 2.01 3.97 5.67 5.87 1.83 -1.75 6.69 2.51 12.35
2019 4.40 5.54 1.02 3.68 -1.28 3.12 -1.02 -2.05 1.84 -0.43 1.74 3.82 21.99
2018 -2.31 1.46 0.23 3.06 3.43 -1.95 0.14 -0.31 -1.23 -4.24 1.53 -1.82 -2.27
2017 2.03 1.48 -1.25 1.97 1.08 -0.02 -0.30 -2.65 1.11 -1.49 -1.43 1.78 2.19
2016 -2.57 2.86 2.27 -0.43 3.09 0.32 4.66 0.75 1.51 2.98 0.68 0.37 17.56
2015 2.17 3.62 4.31 -0.24 1.04 0.01 2.02 0.72 0.83 -0.05 0.32 4.14 20.44
2014 0.03 3.09 3.58 2.37 3.49 0.67 -0.74 1.06 1.21 5.31 3.21 3.38 29.96
2013 2.82 3.81 -1.95 0.85 1.42 0.51 0.12 2.34 2.99 2.65 1.72 1.42 20.23
2012 5.35 4.69 0.00 1.54 -2.53 1.13 0.60 -0.22 1.82 0.53 0.04 1.93 15.66
2011 3.00 2.14 1.49 -0.81 2.90 -1.96 -1.48 -4.02 -5.74 4.64 -1.14 -0.17 -1.65
2010 3.27 3.06 4.20 1.08 -7.87 -4.91 2.78 0.82 3.63 5.64 1.40 5.69 19.39
2009 2.70 2.94 3.64 1.78 4.68 3.07 20.32

Portfolio Managers

Prior to setting up Taiga in 2007, Ola Wessel-Aas (pictured) spent eleven years in investment banking at Merrill Lynch, including as Director in the Financial Institutions Group and as Head of Nordic Investment Banking. Prior work experience includes a year as a junior associate with McKinsey & Co. and his military service as a paratrooper with the Norwegian Army. He holds a Master of Business Administration, Finance Major from the Wharton School, University of Pennsylvania (1995) and a Bachelor of Arts with Honours in Economics from the University of Durham (1991).

Prior to joining Taiga as a founding partner, portfolio manager Andreas Petterøe spent seven years with Telenor Kapitalforvaltning ASA as a portfolio manager of Norwegian and Nordic equities. He also spent three years with Globus Forvaltning as a portfolio manager of Norwegian equities and one year with the Oslo Stock Exchange at the options and futures desk. Petterøe holds a Master of Arts with Honours in Management from the University of St. Andrews in Scotland (1996) and a CFA (2004).

Disclaimer

This information is intended for institutional investors only. All data including performance numbers have been supplied by the respective managers and funds. HedgeNordic in no way guarantees the accuracy of these numbers and has supplied them to you for information purposes only. This does not constitute a solicitation to buy or an offer to sell. No investment should be made without fully reviewing the associated risk factors, fees and conflicts of interest as outlined in each fund’s risk disclosure document. There may be funds which have chosen not to be listed in the HedgeNordic database and the NHX that may have better or worse performance than those in our database.

The risk of loss in investing in hedge funds can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. Past results are not necessarily indicative of future results. Trade only with risk capital. Sales restrictions may apply in your jurisdiction.

Monthly Returns

Performance (VAMI)

Distribution of Monthly Returns

12 MONTH ROLLING ROR Return

Drawdown Report

No. Depth (%) Length (Months) Recovery (Months) Start date End date
Fund Index Fund Index Fund Index Fund Index Fund Index
1 -19.04% 3 5 01/2020 08/2020
2 -15.53% 26 0 09/2021 -
3 -12.62% 4 7 06/2011 04/2012
4 -12.39% 2 5 05/2010 11/2010
5 -7.71% 7 2 06/2018 02/2019

Drawdown

Up Capture vs. MSCI Europe Small Cap Net Total Return Local Index

Down Capture vs. MSCI Europe Small Cap Net Total Return Local Index

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return-0.37%0.00%0.76%0.39%0.06%
% Positive33.33%33.33%50.00%50.00%47.22%
Avg. Pos. Period2.86%2.44%2.72%2.95%2.72%
Avg. Neg. Period-1.95%-1.19%-1.14%-2.08%-2.23%
Sharpe Ratio-0.510.041.150.490.12
Sortino Ratio-0.770.012.520.680.10
Monthly Volatility2.34%1.88%2.39%3.09%2.97%

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 6.89%-16.33%0.94%1.17%2.86%67.20%
3 Months 16.31%-19.04%2.84%3.02%-1.12%71.20%
6 Months 29.15%-14.85%5.75%6.12%0.02%74.03%
1 Year 42.59%-11.27%11.30%11.80%9.56%82.29%
2 Years 64.87%-12.32%23.95%21.23%9.68%90.18%
3 Years 92.97%-3.95%39.63%35.46%2.22%95.36%
5 Years 155.87%19.81%79.59%83.15%19.81%100.00%

Volatility (12 Months Rolling)

CORRELATION (12 MONTH ROLLING)

AUM (EUR)

Disclaimer

This information is intended for institutional investors only. All data including performance numbers have been supplied by the respective managers and funds. HedgeNordic in no way guarantees the accuracy of these numbers and has supplied them to you for information purposes only. This does not constitute a solicitation to buy or an offer to sell. No investment should be made without fully reviewing the associated risk factors, fees and conflicts of interest as outlined in each fund’s risk disclosure document. There may be funds which have chosen not to be listed in the HedgeNordic database and the NHX that may have better or worse performance than those in our database.

The risk of loss in investing in hedge funds can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. Past results are not necessarily indicative of future results. Trade only with risk capital. Sales restrictions may apply in your jurisdiction.

Strategy Description

Taiga Fund is a long-short long-biased equity fund seeking to identify attractive investment opportunities in companies experiencing significant mispricing of their equity securities. The employs a value-driven investing approach and maintains a concentrated portfolio that typically consists of core long holdings, smaller value plays, and opportunistic short positions. The fund primarily takes long positions in undervalued companies but also takes short positions in companies anticipated to face near-term equity price deterioration. Investments in non-listed securities are also considered, as the fund seeks to exploit discrepancies between public and private markets. 

Annual Performance

Fund Information

General Information

NHX CategoryEquities
NHX CountryNorway
Legal StructureQIAIF
Fund DomicileIreland
Minimum Investment100,000 EUR
AUM150M EUR
Inception DateJul 2009
Management Fee1.80%
Performance Fee20.00%
SFDR Classification -

Company Information

CompanyTaiga Fund Management AS
Investor RelationsElin Wallin Tørre
AddressDronning Mauds Gate 3
Oslo, 0250
Phone+47 23 01 25 50
E-mail[email protected]
Websitewww.taigafund.no
Social Media

Portfolio Managers

Prior to setting up Taiga in 2007, Ola Wessel-Aas (pictured) spent eleven years in investment banking at Merrill Lynch, including as Director in the Financial Institutions Group and as Head of Nordic Investment Banking. Prior work experience includes a year as a junior associate with McKinsey & Co. and his military service as a paratrooper with the Norwegian Army. He holds a Master of Business Administration, Finance Major from the Wharton School, University of Pennsylvania (1995) and a Bachelor of Arts with Honours in Economics from the University of Durham (1991).

Prior to joining Taiga as a founding partner, portfolio manager Andreas Petterøe spent seven years with Telenor Kapitalforvaltning ASA as a portfolio manager of Norwegian and Nordic equities. He also spent three years with Globus Forvaltning as a portfolio manager of Norwegian equities and one year with the Oslo Stock Exchange at the options and futures desk. Petterøe holds a Master of Arts with Honours in Management from the University of St. Andrews in Scotland (1996) and a CFA (2004).

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 0.13 1.58 5.33 -0.05 4.42 -2.04 -0.18 2.01 -0.66 -2.65 -1.25 2.86 9.56
2023 4.99 4.42 -0.66 0.13 -6.24 3.83 -4.35 -1.89 -0.84 -4.20 1.83 3.88 0.11
2022 -1.72 -3.12 2.67 3.81 -2.05 -3.21 1.26 -1.11 -4.94 0.61 2.41 -1.23 -6.80
2021 -4.14 2.63 4.44 4.06 -0.41 0.13 2.04 0.12 -3.94 0.30 -3.51 3.02 4.32
2020 -1.02 -2.24 -16.33 6.89 2.01 3.97 5.67 5.87 1.83 -1.75 6.69 2.51 12.35
2019 4.40 5.54 1.02 3.68 -1.28 3.12 -1.02 -2.05 1.84 -0.43 1.74 3.82 21.99
2018 -2.31 1.46 0.23 3.06 3.43 -1.95 0.14 -0.31 -1.23 -4.24 1.53 -1.82 -2.27
2017 2.03 1.48 -1.25 1.97 1.08 -0.02 -0.30 -2.65 1.11 -1.49 -1.43 1.78 2.19
2016 -2.57 2.86 2.27 -0.43 3.09 0.32 4.66 0.75 1.51 2.98 0.68 0.37 17.56
2015 2.17 3.62 4.31 -0.24 1.04 0.01 2.02 0.72 0.83 -0.05 0.32 4.14 20.44
2014 0.03 3.09 3.58 2.37 3.49 0.67 -0.74 1.06 1.21 5.31 3.21 3.38 29.96
2013 2.82 3.81 -1.95 0.85 1.42 0.51 0.12 2.34 2.99 2.65 1.72 1.42 20.23
2012 5.35 4.69 0.00 1.54 -2.53 1.13 0.60 -0.22 1.82 0.53 0.04 1.93 15.66
2011 3.00 2.14 1.49 -0.81 2.90 -1.96 -1.48 -4.02 -5.74 4.64 -1.14 -0.17 -1.65
2010 3.27 3.06 4.20 1.08 -7.87 -4.91 2.78 0.82 3.63 5.64 1.40 5.69 19.39
2009 2.70 2.94 3.64 1.78 4.68 3.07 20.32

Return Statistics

Last Month Return 2.86%
3 Month Return -1.12%
Year to Date Return 9.56%
12 Month Return 9.56%
36 Month Return 2.22%
Total Return Annualized 11.33%
Winning Months (%) 67.20%
Average Winning Month 2.49%
Average Losing Month -2.27%
Total Return Cumulative 427.65%

Risk Statistics (12M)

1 Year
Sharpe Ratio1.15
Sortino Ratio2.52
Sterling0.65
Calmar2.02
Skewness0.61
Kurtosis0.07
Maximum Drawdown-4.74%
Correlation vs S&P 5000.16
Annualized Volatility8.27%
Annualized Down. Deviation3.30%

Risk/Return Comparison

Monthly Returns

Performance (VAMI)

Distribution of Monthly Returns

12 MONTH ROLLING ROR Return

Drawdown Report

No. Depth (%) Length (Months) Recovery (Months) Start date End date
Fund Index Fund Index Fund Index Fund Index Fund Index
1 -19.04% 3 5 01/2020 08/2020
2 -15.53% 26 0 09/2021 -
3 -12.62% 4 7 06/2011 04/2012
4 -12.39% 2 5 05/2010 11/2010
5 -7.71% 7 2 06/2018 02/2019

Drawdown

Up Capture vs. MSCI Europe Small Cap Net Total Return Local Index

Down Capture vs. MSCI Europe Small Cap Net Total Return Local Index

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return-0.37%0.00%0.76%0.39%0.06%
% Positive33.33%33.33%50.00%50.00%47.22%
Avg. Pos. Period2.86%2.44%2.72%2.95%2.72%
Avg. Neg. Period-1.95%-1.19%-1.14%-2.08%-2.23%
Sharpe Ratio-0.510.041.150.490.12
Sortino Ratio-0.770.012.520.680.10
Monthly Volatility2.34%1.88%2.39%3.09%2.97%

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 6.89%-16.33%0.94%1.17%2.86%67.20%
3 Months 16.31%-19.04%2.84%3.02%-1.12%71.20%
6 Months 29.15%-14.85%5.75%6.12%0.02%74.03%
1 Year 42.59%-11.27%11.30%11.80%9.56%82.29%
2 Years 64.87%-12.32%23.95%21.23%9.68%90.18%
3 Years 92.97%-3.95%39.63%35.46%2.22%95.36%
5 Years 155.87%19.81%79.59%83.15%19.81%100.00%

Volatility (12 Months Rolling)

CORRELATION (12 MONTH ROLLING)

AUM (EUR)

Disclaimer

This information is intended for institutional investors only. All data including performance numbers have been supplied by the respective managers and funds. HedgeNordic in no way guarantees the accuracy of these numbers and has supplied them to you for information purposes only. This does not constitute a solicitation to buy or an offer to sell. No investment should be made without fully reviewing the associated risk factors, fees and conflicts of interest as outlined in each fund’s risk disclosure document. There may be funds which have chosen not to be listed in the HedgeNordic database and the NHX that may have better or worse performance than those in our database.

The risk of loss in investing in hedge funds can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. Past results are not necessarily indicative of future results. Trade only with risk capital. Sales restrictions may apply in your jurisdiction.

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Data and information is provided for informational purposes only. Past performance is not necessarily indicative of future results.

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