SEB Investment Management

SEB Eureka Fixed Income Relative Value

Strategy Description

The objective of SEB Eureka Fixed Income Relative Value is to generate high absolute returns by taking advantage of relative value opportunities, mainly in the Scandinavian fixed income markets and in particular the Danish market. The fund is targeting absolute returns and consequently does not have a benchmark. Its investment strategy focuses on relative value in Scandinavian government bonds, covered bonds and OTC derivatives. It does not aim to be exposed to market directionality in the pursuit of alpha. SEB Eureka uses financial leverage and short-selling to exploit relative value opportunities. SEB Eureka Fixed Income Relative Value will have a strong Scandinavian bias in its strategies.

Fund Information

General Information

NHX CategoryFixed Income
NHX CountryDenmark
Legal StructureSICAV
Fund DomicileLuxembourg
Minimum Investment50,000,000 DKK
AUM338M DKK
Inception DateJan 2018
Management Fee0.55%
Performance Fee10.00%

Company Information

CompanySEB Investment Management
PrincipalBo Michael Andersen
Investor RelationsAsset Management Sales
AddressBernstorffsgade 50
København V, 1577
Phone+45 3328 1477
E-mail[email protected]
Websitewww.sebgroup.lu
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2023 2.42 1.20 -2.15 3.54 -1.25 3.20 2.45 2.93 0.87 0.30 1.76 1.27 17.66
2022 -0.90 -6.79 0.43 -3.08 -3.32 -0.82 -0.44 1.23 -6.71 5.06 3.22 2.58 -9.83
2021 1.08 -1.24 1.28 0.99 -0.23 -0.04 0.12 -0.36 0.03 -1.81 0.45 2.68 2.91
2020 1.36 0.12 1.20 1.43 2.34 1.53 2.15 0.25 -0.33 -0.16 2.16 0.02 12.70
2019 0.70 1.19 0.63 0.73 0.11 -0.36 0.16 -1.07 0.05 0.76 0.25 0.66 3.86
2018 -0.10 1.06 0.05 1.03 0.55 0.50 0.12 0.30 0.99 -0.19 -0.49 0.17 4.05

Portfolio Managers

Bo Michael Andersen (pictured left), the appointed Chief Investment Officer of SEB Eureka Fixed Income Relative Value Fund, has more than 20 years of experience in financial markets. Before managing SEB Eureka, Andersen served as Head of Markets, Head of Fixed Income and Head of Fixed Income Research at SEB Denmark between 2001 and 2016. Andersen also worked as a Portfolio Manager specializing in fixed income at Danske Capital, Tryg-Baltica and Nordea Investment Management prior to joining SEB. He holds a Master’s degree in Finance from the Copenhagen Business School.

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 -18.94% 9 11 01/2022 08/2023
2 -2.28% 6 2 05/2021 12/2021
3 -1.27% 3 4 06/2019 12/2019
4 -1.24% 1 1 02/2021 03/2021
5 -0.67% 2 2 10/2018 01/2019

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return1.11%1.59%1.36%0.25%0.24%
% Positive100.00%100.00%83.33%62.50%61.11%
Avg. Pos. Period1.11%1.60%1.99%2.16%1.78%
Avg. Neg. Period - - -1.70%-2.83%-2.08%
Sharpe Ratio6.356.152.850.340.38
Sortino Ratio0.000.006.580.380.46
Monthly Volatility0.61%0.90%1.67%2.97%2.51%

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 5.06%-6.79%0.41%0.44%1.27%70.83%
3 Months 11.24%-9.27%1.22%1.34%3.36%70.00%
6 Months 12.82%-13.78%2.37%2.57%9.94%79.10%
1 Year 26.63%-17.91%4.07%4.05%17.66%78.69%
2 Years 17.49%-14.90%6.11%8.62%6.09%69.39%
3 Years 23.23%-4.40%10.31%7.84%9.18%94.59%
5 Years 27.79%13.02%19.25%17.29%27.79%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

The objective of SEB Eureka Fixed Income Relative Value is to generate high absolute returns by taking advantage of relative value opportunities, mainly in the Scandinavian fixed income markets and in particular the Danish market. The fund is targeting absolute returns and consequently does not have a benchmark. Its investment strategy focuses on relative value in Scandinavian government bonds, covered bonds and OTC derivatives. It does not aim to be exposed to market directionality in the pursuit of alpha. SEB Eureka uses financial leverage and short-selling to exploit relative value opportunities. SEB Eureka Fixed Income Relative Value will have a strong Scandinavian bias in its strategies.

Fund Information

General Information

NHX CategoryFixed Income
NHX CountryDenmark
Legal StructureSICAV
Fund DomicileLuxembourg
Minimum Investment50,000,000 DKK
AUM338M DKK
Inception DateJan 2018
Management Fee0.55%
Performance Fee10.00%

Company Information

CompanySEB Investment Management
PrincipalBo Michael Andersen
Investor RelationsAsset Management Sales
AddressBernstorffsgade 50
København V, 1577
Phone+45 3328 1477
E-mail[email protected]
Websitewww.sebgroup.lu
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2023 2.42 1.20 -2.15 3.54 -1.25 3.20 2.45 2.93 0.87 0.30 1.76 1.27 17.66
2022 -0.90 -6.79 0.43 -3.08 -3.32 -0.82 -0.44 1.23 -6.71 5.06 3.22 2.58 -9.83
2021 1.08 -1.24 1.28 0.99 -0.23 -0.04 0.12 -0.36 0.03 -1.81 0.45 2.68 2.91
2020 1.36 0.12 1.20 1.43 2.34 1.53 2.15 0.25 -0.33 -0.16 2.16 0.02 12.70
2019 0.70 1.19 0.63 0.73 0.11 -0.36 0.16 -1.07 0.05 0.76 0.25 0.66 3.86
2018 -0.10 1.06 0.05 1.03 0.55 0.50 0.12 0.30 0.99 -0.19 -0.49 0.17 4.05

Portfolio Managers

Bo Michael Andersen (pictured left), the appointed Chief Investment Officer of SEB Eureka Fixed Income Relative Value Fund, has more than 20 years of experience in financial markets. Before managing SEB Eureka, Andersen served as Head of Markets, Head of Fixed Income and Head of Fixed Income Research at SEB Denmark between 2001 and 2016. Andersen also worked as a Portfolio Manager specializing in fixed income at Danske Capital, Tryg-Baltica and Nordea Investment Management prior to joining SEB. He holds a Master’s degree in Finance from the Copenhagen Business School.

Return Statistics

Last Month Return -
3 Month Return 3.36%
Year to Date Return 17.66%
12 Month Return 17.66%
36 Month Return 9.18%
Total Return Annualized 4.86%
Winning Months (%) 70.83%
Average Winning Month 1.21%
Average Losing Month -1.52%
Total Return Cumulative 32.97%

Risk Statistics (12M)

1 Year
Sharpe Ratio2.85
Sortino Ratio6.58
Sterling1.45
Calmar8.21
Skewness-0.96
Kurtosis0.90
Maximum Drawdown-2.15%
Correlation vs S&P 5000.21
Annualized Volatility5.80%
Annualized Down. Deviation1.56%

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 -18.94% 9 11 01/2022 08/2023
2 -2.28% 6 2 05/2021 12/2021
3 -1.27% 3 4 06/2019 12/2019
4 -1.24% 1 1 02/2021 03/2021
5 -0.67% 2 2 10/2018 01/2019

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return1.11%1.59%1.36%0.25%0.24%
% Positive100.00%100.00%83.33%62.50%61.11%
Avg. Pos. Period1.11%1.60%1.99%2.16%1.78%
Avg. Neg. Period - - -1.70%-2.83%-2.08%
Sharpe Ratio6.356.152.850.340.38
Sortino Ratio0.000.006.580.380.46
Monthly Volatility0.61%0.90%1.67%2.97%2.51%

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 5.06%-6.79%0.41%0.44%1.27%70.83%
3 Months 11.24%-9.27%1.22%1.34%3.36%70.00%
6 Months 12.82%-13.78%2.37%2.57%9.94%79.10%
1 Year 26.63%-17.91%4.07%4.05%17.66%78.69%
2 Years 17.49%-14.90%6.11%8.62%6.09%69.39%
3 Years 23.23%-4.40%10.31%7.84%9.18%94.59%
5 Years 27.79%13.02%19.25%17.29%27.79%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.