HP Hedge Fixed Income

HP Fondsmæglerselskab A/S

Strategy Description

HP Hedge Fixed Income, a hedge fund with a broader investment mandate than HP’s flagship hedge fund HP Hedge Danish Bonds, focuses on investing in Danish and Swedish mortgage bonds. The fund can also invest in short- and medium-term European government and mortgage bonds, as well as credit bonds. HP Hedge Fixed Income aims to capitalize on relative-value opportunities in European fixed-income markets, with a focus on Nordic markets and bonds with good credit quality. The fund can employ leverage of up to 12 times its assets, but seeks to leverage up between five and seven times assets on average. HP Hedge Fixed Income has a return target of 12-month Copenhagen Interbank Offered Rate (CIBOR) plus five percent per year net of costs, measured as an average over a three-year period.

Fund Information

General Information

NHX CategoryFixed Income
NHX CountryDenmark
Legal StructureFund
Fund DomicileDenmark
Minimum Investment00 DKK
AUM364M DKK
Inception DateOct 2018
Management Fee1.00%
Performance Fee15.00%
SFDR Classification -

Company Information

CompanyHP Fondsmæglerselskab A/S
Investor RelationsBjarne Hammeken
AddressKronprinsessegade 18, 1.
Copenhagen, 1306
Phone+45 33 15 00 34
E-mail[email protected]
Websitewww.hpfonds.dk
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 2.53 3.79 1.82 -2.44 3.45 2.01 3.26 2.04 2.71 20.73
2023 1.44 1.30 -4.56 -0.63 -0.12 0.58 5.86 0.29 2.23 0.28 2.84 5.36 15.46
2022 -6.36 -20.25 12.01 -7.67 -6.52 -7.33 0.06 -4.91 -18.03 14.34 7.38 3.75 -33.53
2021 -0.22 -1.87 0.63 0.12 -5.07 1.05 -1.56 -2.61 -6.91 3.95 -5.67 10.30 -8.66
2020 0.44 -1.68 -6.06 0.88 2.67 1.13 1.17 1.95 0.98 -0.68 1.56 0.68 2.78
2019 1.53 1.55 1.36 0.29 -0.28 -0.59 0.55 1.96 0.61 0.40 -0.53 0.94 8.03
2018 0.17 -0.89 0.80 0.07

Portfolio Managers

Henrik Fournais (pictured right) joined HP Fondsmaeglerselskab in 2004 where he currently serves as chief executive officer and co-manages a range of Danish fixed-income funds and institutional mandates. Before joining HP Fondsmaeglerselskab, he worked as a portfolio manager at Dexia Bank Denmark for 16 years. He studied at the Copenhagen Business School.

Michael Nielsen (pictured middle) has been serving as a portfolio manager at HP Fondsmaeglerselskab since 2008. He is a part of the firm’s Danish bonds team and responsible for driving the balanced investment style. Before joining HP Fondsmaeglerselskab, Nielsen worked at various companies such as Carnegie Bank, Handelsbanken, Danske Bank, and Kreditforeningen. He studied at Metropolitanskolen in Denmark.

Thomas Loldrup Kjær joined HP Fondsmaeglerselskab in 2015 as a portfolio manager. Kjær also serves as a partner of the firm since 2017. Prior to joining HP Fondsmaeglerselskab, he managed his own investment company Starkner & Kjaer, as well as served as a chief dealer and deputy director for Danish financial services group Alm. Brand Bank A/S between 2010 and 2014. Between 2005 and 2010, Kjær served as head of markets at Sparbank A/S.

Mark Gerts Rentzmann Jøns serves as a portfolio manager at HP Fondsmaeglerselskab since 2016, having joined the firm as an assistant portfolio manager in 2013. He holds a Master’s degree in Economics from the University of Copenhagen.

Family of Funds

Company Programs
HP Hedge Danish Bonds

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 -52.34% 21 0 01/2021 -
2 -7.64% 2 6 02/2020 09/2020
3 -0.89% 1 2 11/2018 01/2019
4 -0.87% 2 2 05/2019 08/2019
5 -0.68% 1 1 10/2020 11/2020

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return2.67%1.82%2.29%2.42%0.01%
% Positive100.00%83.33%91.67%83.33%66.67%
Avg. Pos. Period2.67%2.69%2.74%3.36%3.90%
Avg. Neg. Period - -2.44%-2.44%-1.94%-7.04%
Sharpe Ratio18.543.204.302.440.13
Sortino Ratio0.006.3211.257.880.00
Monthly Volatility0.50%1.99%1.85%3.51%6.86%

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 14.34%-20.25%0.05%0.62%2.71%65.28%
3 Months 27.38%-22.01%-0.01%1.11%8.22%57.14%
6 Months 24.93%-37.62%-0.35%1.49%11.42%61.19%
1 Year 35.35%-43.56%-1.96%1.03%31.18%55.74%
2 Years 77.55%-51.60%-11.66%-14.09%77.55%32.65%
3 Years 1.42%-50.62%-26.36%-29.94%0.20%5.41%
5 Years -12.32%-28.32%-20.13%-19.67%-12.32%0.00%

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

HP Hedge Fixed Income, a hedge fund with a broader investment mandate than HP’s flagship hedge fund HP Hedge Danish Bonds, focuses on investing in Danish and Swedish mortgage bonds. The fund can also invest in short- and medium-term European government and mortgage bonds, as well as credit bonds. HP Hedge Fixed Income aims to capitalize on relative-value opportunities in European fixed-income markets, with a focus on Nordic markets and bonds with good credit quality. The fund can employ leverage of up to 12 times its assets, but seeks to leverage up between five and seven times assets on average. HP Hedge Fixed Income has a return target of 12-month Copenhagen Interbank Offered Rate (CIBOR) plus five percent per year net of costs, measured as an average over a three-year period.

Fund Information

General Information

NHX CategoryFixed Income
NHX CountryDenmark
Legal StructureFund
Fund DomicileDenmark
Minimum Investment00 DKK
AUM364M DKK
Inception DateOct 2018
Management Fee1.00%
Performance Fee15.00%
SFDR Classification -

Company Information

CompanyHP Fondsmæglerselskab A/S
Investor RelationsBjarne Hammeken
AddressKronprinsessegade 18, 1.
Copenhagen, 1306
Phone+45 33 15 00 34
E-mail[email protected]
Websitewww.hpfonds.dk
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 2.53 3.79 1.82 -2.44 3.45 2.01 3.26 2.04 2.71 20.73
2023 1.44 1.30 -4.56 -0.63 -0.12 0.58 5.86 0.29 2.23 0.28 2.84 5.36 15.46
2022 -6.36 -20.25 12.01 -7.67 -6.52 -7.33 0.06 -4.91 -18.03 14.34 7.38 3.75 -33.53
2021 -0.22 -1.87 0.63 0.12 -5.07 1.05 -1.56 -2.61 -6.91 3.95 -5.67 10.30 -8.66
2020 0.44 -1.68 -6.06 0.88 2.67 1.13 1.17 1.95 0.98 -0.68 1.56 0.68 2.78
2019 1.53 1.55 1.36 0.29 -0.28 -0.59 0.55 1.96 0.61 0.40 -0.53 0.94 8.03
2018 0.17 -0.89 0.80 0.07

Portfolio Managers

Henrik Fournais (pictured right) joined HP Fondsmaeglerselskab in 2004 where he currently serves as chief executive officer and co-manages a range of Danish fixed-income funds and institutional mandates. Before joining HP Fondsmaeglerselskab, he worked as a portfolio manager at Dexia Bank Denmark for 16 years. He studied at the Copenhagen Business School.

Michael Nielsen (pictured middle) has been serving as a portfolio manager at HP Fondsmaeglerselskab since 2008. He is a part of the firm’s Danish bonds team and responsible for driving the balanced investment style. Before joining HP Fondsmaeglerselskab, Nielsen worked at various companies such as Carnegie Bank, Handelsbanken, Danske Bank, and Kreditforeningen. He studied at Metropolitanskolen in Denmark.

Thomas Loldrup Kjær joined HP Fondsmaeglerselskab in 2015 as a portfolio manager. Kjær also serves as a partner of the firm since 2017. Prior to joining HP Fondsmaeglerselskab, he managed his own investment company Starkner & Kjaer, as well as served as a chief dealer and deputy director for Danish financial services group Alm. Brand Bank A/S between 2010 and 2014. Between 2005 and 2010, Kjær served as head of markets at Sparbank A/S.

Mark Gerts Rentzmann Jøns serves as a portfolio manager at HP Fondsmaeglerselskab since 2016, having joined the firm as an assistant portfolio manager in 2013. He holds a Master’s degree in Economics from the University of Copenhagen.

Family of Funds

Company Programs
HP Hedge Danish Bonds

Return Statistics

Last Month Return 2.71%
3 Month Return 8.22%
Year to Date Return 20.73%
12 Month Return 31.18%
36 Month Return 0.20%
Total Return Annualized -1.02%
Winning Months (%) 65.28%
Average Winning Month 2.49%
Average Losing Month -4.54%
Total Return Cumulative -5.97%

Risk Statistics (12M)

1 Year
Sharpe Ratio4.30
Sortino Ratio11.25
Sterling2.51
Calmar12.78
Skewness-1.38
Kurtosis4.20
Maximum Drawdown-2.44%
Correlation vs S&P 5000.75
Annualized Volatility6.42%
Annualized Down. Deviation0.00%

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 -52.34% 21 0 01/2021 -
2 -7.64% 2 6 02/2020 09/2020
3 -0.89% 1 2 11/2018 01/2019
4 -0.87% 2 2 05/2019 08/2019
5 -0.68% 1 1 10/2020 11/2020

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return2.67%1.82%2.29%2.42%0.01%
% Positive100.00%83.33%91.67%83.33%66.67%
Avg. Pos. Period2.67%2.69%2.74%3.36%3.90%
Avg. Neg. Period - -2.44%-2.44%-1.94%-7.04%
Sharpe Ratio18.543.204.302.440.13
Sortino Ratio0.006.3211.257.880.00
Monthly Volatility0.50%1.99%1.85%3.51%6.86%

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 14.34%-20.25%0.05%0.62%2.71%65.28%
3 Months 27.38%-22.01%-0.01%1.11%8.22%57.14%
6 Months 24.93%-37.62%-0.35%1.49%11.42%61.19%
1 Year 35.35%-43.56%-1.96%1.03%31.18%55.74%
2 Years 77.55%-51.60%-11.66%-14.09%77.55%32.65%
3 Years 1.42%-50.62%-26.36%-29.94%0.20%5.41%
5 Years -12.32%-28.32%-20.13%-19.67%-12.32%0.00%

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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