CARN Latitude

CARN Capital AS

Strategy Description

CARN Latitude is a long/short equity fund that invests in sustainable companies that are believed to be undervalued or mispriced and, conversely, initiates short positions in companies believed to be overvalued. The fund’s investment objective is to achieve maximum capital appreciation by combining long and short positions on equities that are listed on regulated markets. The fund invests predominantly in European companies (particularly in the Nordic region, i.e. Sweden, Finland, Norway, Denmark and Iceland) that are operating in a wide range of economic sectors and might invest the remaining proportion of the assets - depending on the market conditions - in other regions of the World (e.g. Asian or American equity and/or fixed income markets).

Note: The track record from November 2016 is based on the UCITS-compliant CARN Latitude (OPA3) domiciled in Luxembourg. The prior track record reflects the performance of the same equity strategy run by the same team and with the same fee model, but run through a segregated account.

Fund Information

General Information

NHX CategoryEquities
NHX CountryNorway
Legal StructureUCITS
Fund DomicileLuxembourg
Minimum Investment10,000,000 NOK
AUM325M NOK
Inception DateNov 2015
Management Fee1.00%
Performance Fee10.00%
SFDR Classification -

Company Information

CompanyCARN Capital AS
AddressApotekergata 10
Oslo, 0180
Phone
E-mail[email protected]
Websitewww.carncapital.com
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 1.23 1.08 5.08 -0.06 2.49 0.90 11.12
2023 2.28 0.32 0.67 3.60 -4.89 -2.05 -1.02 3.02 3.27 -1.20 6.00 4.84 15.27
2022 -7.54 -4.92 -0.23 2.00 -2.49 -1.73 1.47 -4.03 -0.83 -0.62 -0.10 1.21 -16.81
2021 -2.30 2.38 -0.79 1.64 -1.91 0.06 5.84 0.87 -4.36 0.46 -1.47 0.30 0.35
2020 2.59 -1.03 -2.68 8.16 4.43 1.73 6.82 1.33 4.56 -5.01 6.97 6.96 39.66
2019 1.06 5.91 0.22 2.66 -0.04 2.06 -0.11 -1.41 2.36 2.68 1.85 3.57 22.66
2018 0.05 0.11 -1.14 4.10 2.75 -2.41 2.64 1.13 -1.05 -8.07 3.29 -1.74 -0.95
2017 1.06 -2.33 -1.83 2.61 0.04 0.13 1.77 -2.14 0.59 -0.20 -0.57 1.93 0.92
2016 -5.13 3.41 1.59 5.52 2.67 -4.63 5.18 -1.32 0.96 1.46 4.04 0.73 14.74
2015 4.45 6.52 11.26

Portfolio Managers

   
No data filled

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 -22.06% 23 10 09/2021 05/2024
2 -9.04% 2 6 09/2018 04/2019
3 -5.13% 1 3 01/2016 04/2016
4 -5.01% 1 1 10/2020 11/2020
5 -4.63% 1 1 06/2016 07/2016

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return1.10%1.77%2.11%0.91%0.21%
% Positive66.67%83.33%75.00%62.50%55.56%
Avg. Pos. Period1.70%2.16%3.10%2.50%2.35%
Avg. Neg. Period-0.06%-0.06%-0.76%-1.64%-2.35%
Sharpe Ratio3.663.753.241.250.30
Sortino Ratio110.45250.8016.072.230.35
Monthly Volatility1.05%1.65%2.28%2.61%3.04%

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 8.16%-8.07%0.87%0.93%0.90%63.46%
3 Months 14.91%-12.29%2.47%2.81%3.35%66.67%
6 Months 30.05%-16.53%4.96%4.47%11.12%73.74%
1 Year 40.26%-20.73%9.20%7.30%28.48%75.27%
2 Years 71.31%-21.38%18.10%15.79%24.29%76.54%
3 Years 76.56%-5.14%30.75%25.04%8.01%88.41%
5 Years 102.34%31.76%62.76%57.23%63.05%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

CARN Latitude is a long/short equity fund that invests in sustainable companies that are believed to be undervalued or mispriced and, conversely, initiates short positions in companies believed to be overvalued. The fund’s investment objective is to achieve maximum capital appreciation by combining long and short positions on equities that are listed on regulated markets. The fund invests predominantly in European companies (particularly in the Nordic region, i.e. Sweden, Finland, Norway, Denmark and Iceland) that are operating in a wide range of economic sectors and might invest the remaining proportion of the assets - depending on the market conditions - in other regions of the World (e.g. Asian or American equity and/or fixed income markets).

Note: The track record from November 2016 is based on the UCITS-compliant CARN Latitude (OPA3) domiciled in Luxembourg. The prior track record reflects the performance of the same equity strategy run by the same team and with the same fee model, but run through a segregated account.

Fund Information

General Information

NHX CategoryEquities
NHX CountryNorway
Legal StructureUCITS
Fund DomicileLuxembourg
Minimum Investment10,000,000 NOK
AUM325M NOK
Inception DateNov 2015
Management Fee1.00%
Performance Fee10.00%
SFDR Classification -

Company Information

CompanyCARN Capital AS
AddressApotekergata 10
Oslo, 0180
Phone
E-mail[email protected]
Websitewww.carncapital.com
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 1.23 1.08 5.08 -0.06 2.49 0.90 11.12
2023 2.28 0.32 0.67 3.60 -4.89 -2.05 -1.02 3.02 3.27 -1.20 6.00 4.84 15.27
2022 -7.54 -4.92 -0.23 2.00 -2.49 -1.73 1.47 -4.03 -0.83 -0.62 -0.10 1.21 -16.81
2021 -2.30 2.38 -0.79 1.64 -1.91 0.06 5.84 0.87 -4.36 0.46 -1.47 0.30 0.35
2020 2.59 -1.03 -2.68 8.16 4.43 1.73 6.82 1.33 4.56 -5.01 6.97 6.96 39.66
2019 1.06 5.91 0.22 2.66 -0.04 2.06 -0.11 -1.41 2.36 2.68 1.85 3.57 22.66
2018 0.05 0.11 -1.14 4.10 2.75 -2.41 2.64 1.13 -1.05 -8.07 3.29 -1.74 -0.95
2017 1.06 -2.33 -1.83 2.61 0.04 0.13 1.77 -2.14 0.59 -0.20 -0.57 1.93 0.92
2016 -5.13 3.41 1.59 5.52 2.67 -4.63 5.18 -1.32 0.96 1.46 4.04 0.73 14.74
2015 4.45 6.52 11.26

Portfolio Managers

   
No data filled

Return Statistics

Last Month Return -
3 Month Return 3.35%
Year to Date Return 11.12%
12 Month Return 28.48%
36 Month Return 8.01%
Total Return Annualized 10.29%
Winning Months (%) 63.46%
Average Winning Month 2.66%
Average Losing Month -2.25%
Total Return Cumulative 133.75%

Risk Statistics (12M)

1 Year
Sharpe Ratio3.24
Sortino Ratio16.07
Sterling2.54
Calmar23.73
Skewness0.20
Kurtosis-0.52
Maximum Drawdown-1.20%
Correlation vs S&P 5000.42
Annualized Volatility7.90%
Annualized Down. Deviation1.73%

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 -22.06% 23 10 09/2021 05/2024
2 -9.04% 2 6 09/2018 04/2019
3 -5.13% 1 3 01/2016 04/2016
4 -5.01% 1 1 10/2020 11/2020
5 -4.63% 1 1 06/2016 07/2016

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return1.10%1.77%2.11%0.91%0.21%
% Positive66.67%83.33%75.00%62.50%55.56%
Avg. Pos. Period1.70%2.16%3.10%2.50%2.35%
Avg. Neg. Period-0.06%-0.06%-0.76%-1.64%-2.35%
Sharpe Ratio3.663.753.241.250.30
Sortino Ratio110.45250.8016.072.230.35
Monthly Volatility1.05%1.65%2.28%2.61%3.04%

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 8.16%-8.07%0.87%0.93%0.90%63.46%
3 Months 14.91%-12.29%2.47%2.81%3.35%66.67%
6 Months 30.05%-16.53%4.96%4.47%11.12%73.74%
1 Year 40.26%-20.73%9.20%7.30%28.48%75.27%
2 Years 71.31%-21.38%18.10%15.79%24.29%76.54%
3 Years 76.56%-5.14%30.75%25.04%8.01%88.41%
5 Years 102.34%31.76%62.76%57.23%63.05%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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