Formue Nord A/S

Formue Nord Markedsneutral

Strategy Description

Formue Nord Markedsneutral employs a beta-neutral strategy focusing on special situations with an asymmetric return payoff. The fund’s speciality is to provide capital to listed small- and midcap companies on flexible terms that accommodate each company’s requirements. By hedging the market risk, the value- and complexity premia are isolated, resulting in a truly uncorrelated return profile for the portfolio. Formue Nord Markedsneutral had full beta exposure during the first two months of operations, December 2015 and January 2016, with the fund being fully hedged since then.

Fund Information

General Information

NHX CategoryMulti-strategy
NHX CountryDenmark
Legal StructureAlternative Investment Fund
Fund DomicileDenmark
Minimum Investment1,000,000 DKK
AUM237M DKK
Inception DateDec 2015
Management Fee1.00%
Performance Fee20.00%

Company Information

CompanyFormue Nord A/S
PrincipalThøger Dam Johansen
Investor RelationsThøger Dam Johansen
AddressØstre Alle 102
Aalborg, 9000
Phone+45 2855 3474
E-mail[email protected]
Websitewww.formuenord.dk
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2023 0.89 0.66 0.16 -0.08 1.51 2.10 0.35 0.07 5.78
2022 -0.04 -2.77 1.62 -2.79 0.81 2.17 0.24 -1.89 -0.77 -2.22 -12.34 1.06 -16.41
2021 0.06 1.22 -3.19 0.67 -1.57 0.39 -0.46 -2.11 -0.37 -1.84 0.58 -0.80 -7.26
2020 5.49 0.45 0.81 2.24 2.46 2.22 4.20 0.07 0.95 1.54 -0.27 3.79 26.55
2019 1.31 0.01 1.40 1.69 4.83 1.97 0.75 0.01 0.01 0.16 0.72 3.14 17.10
2018 3.95 1.43 1.20 0.14 0.65 1.72 0.79 -2.36 1.27 2.66 0.86 0.62 13.59
2017 1.12 -2.06 -0.83 3.28 0.41 1.92 2.72 1.95 -3.18 2.44 -1.03 2.08 8.93
2016 -12.52 -0.15 0.64 0.55 1.51 3.92 -0.74 2.92 4.94 0.23 0.49 -3.77 -3.11
2015 1.12 1.12

Portfolio Managers

Ramus Viggers, CIO and Partner, is responsible for investments at Formue Nord. He has been active on public markets and within Formue Nord’s market niche for more than 15 years. He is considered to be among the leading rights issue experts within the Nordics. Viggers holds a Master’s Degree in Finance and Accounting from Copenhagen Business School and he is a Chartered Financial Analyst (CFA) Charterholder.

Family of Funds

Company Programs
Formue Nord Fokus

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 -24.26% 21 0 03/2021 -
2 -12.65% 2 8 01/2016 10/2016
3 -5.49% 4 4 12/2016 07/2017
4 -3.18% 1 3 09/2017 12/2017
5 -2.36% 1 2 08/2018 10/2018

Drawdown

Up Capture vs. MSCI World

Down Capture vs. MSCI World

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return0.84%0.68%-0.79%-0.61%-0.39%
% Positive100.00%83.33%66.67%54.17%55.56%
Avg. Pos. Period0.84%0.84%0.85%0.94%1.04%
Avg. Neg. Period - -0.08%-3.85%-2.36%-2.09%
Sharpe Ratio3.242.89-0.68-0.70-0.48
Sortino Ratio0.0072.30-0.75-0.77-0.57
Monthly Volatility0.90%0.82%3.66%2.82%2.53%

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 5.49%-12.52%.45%.66%.07%73.12%
3 Months 9.59%-14.95%1.53%2.52%2.53%69.23%
6 Months 15.42%-15.47%3.37%4.81%4.16%69.32%
1 Year 27.01%-17.95%7.23%10.28%-9.08%69.51%
2 Years 48.19%-22.48%19.08%25.57%-13.72%80.00%
3 Years 68.32%-12.99%34.71%39.58%-12.99%84.48%
5 Years 105.98%24.12%59.97%63.39%28.21%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

Formue Nord Markedsneutral employs a beta-neutral strategy focusing on special situations with an asymmetric return payoff. The fund’s speciality is to provide capital to listed small- and midcap companies on flexible terms that accommodate each company’s requirements. By hedging the market risk, the value- and complexity premia are isolated, resulting in a truly uncorrelated return profile for the portfolio. Formue Nord Markedsneutral had full beta exposure during the first two months of operations, December 2015 and January 2016, with the fund being fully hedged since then.

Fund Information

General Information

NHX CategoryMulti-strategy
NHX CountryDenmark
Legal StructureAlternative Investment Fund
Fund DomicileDenmark
Minimum Investment1,000,000 DKK
AUM237M DKK
Inception DateDec 2015
Management Fee1.00%
Performance Fee20.00%

Company Information

CompanyFormue Nord A/S
PrincipalThøger Dam Johansen
Investor RelationsThøger Dam Johansen
AddressØstre Alle 102
Aalborg, 9000
Phone+45 2855 3474
E-mail[email protected]
Websitewww.formuenord.dk
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2023 0.89 0.66 0.16 -0.08 1.51 2.10 0.35 0.07 5.78
2022 -0.04 -2.77 1.62 -2.79 0.81 2.17 0.24 -1.89 -0.77 -2.22 -12.34 1.06 -16.41
2021 0.06 1.22 -3.19 0.67 -1.57 0.39 -0.46 -2.11 -0.37 -1.84 0.58 -0.80 -7.26
2020 5.49 0.45 0.81 2.24 2.46 2.22 4.20 0.07 0.95 1.54 -0.27 3.79 26.55
2019 1.31 0.01 1.40 1.69 4.83 1.97 0.75 0.01 0.01 0.16 0.72 3.14 17.10
2018 3.95 1.43 1.20 0.14 0.65 1.72 0.79 -2.36 1.27 2.66 0.86 0.62 13.59
2017 1.12 -2.06 -0.83 3.28 0.41 1.92 2.72 1.95 -3.18 2.44 -1.03 2.08 8.93
2016 -12.52 -0.15 0.64 0.55 1.51 3.92 -0.74 2.92 4.94 0.23 0.49 -3.77 -3.11
2015 1.12 1.12

Portfolio Managers

Ramus Viggers, CIO and Partner, is responsible for investments at Formue Nord. He has been active on public markets and within Formue Nord’s market niche for more than 15 years. He is considered to be among the leading rights issue experts within the Nordics. Viggers holds a Master’s Degree in Finance and Accounting from Copenhagen Business School and he is a Chartered Financial Analyst (CFA) Charterholder.

Family of Funds

Company Programs
Formue Nord Fokus

Return Statistics

Last Month Return 0.07%
3 Month Return 2.53%
Year to Date Return 5.78%
12 Month Return -9.08%
36 Month Return -12.99%
Total Return Annualized 5.12%
Winning Months (%) 73.12%
Average Winning Month 1.50%
Average Losing Month -2.41%
Total Return Cumulative 47.31%

Risk Statistics (12M)

1 Year
Sharpe Ratio-0.68
Sortino Ratio-0.75
Sterling-0.36
Calmar-0.61
Skewness-3.39
Kurtosis12.08
Maximum Drawdown-14.95%
Correlation vs S&P 500-0.24
Annualized Volatility12.68%
Annualized Down. Deviation17.18%

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 -24.26% 21 0 03/2021 -
2 -12.65% 2 8 01/2016 10/2016
3 -5.49% 4 4 12/2016 07/2017
4 -3.18% 1 3 09/2017 12/2017
5 -2.36% 1 2 08/2018 10/2018

Drawdown

Up Capture vs. MSCI World

Down Capture vs. MSCI World

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return0.84%0.68%-0.79%-0.61%-0.39%
% Positive100.00%83.33%66.67%54.17%55.56%
Avg. Pos. Period0.84%0.84%0.85%0.94%1.04%
Avg. Neg. Period - -0.08%-3.85%-2.36%-2.09%
Sharpe Ratio3.242.89-0.68-0.70-0.48
Sortino Ratio0.0072.30-0.75-0.77-0.57
Monthly Volatility0.90%0.82%3.66%2.82%2.53%

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 5.49%-12.52%.45%.66%.07%73.12%
3 Months 9.59%-14.95%1.53%2.52%2.53%69.23%
6 Months 15.42%-15.47%3.37%4.81%4.16%69.32%
1 Year 27.01%-17.95%7.23%10.28%-9.08%69.51%
2 Years 48.19%-22.48%19.08%25.57%-13.72%80.00%
3 Years 68.32%-12.99%34.71%39.58%-12.99%84.48%
5 Years 105.98%24.12%59.97%63.39%28.21%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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