Nordkinn Fixed Income Macro Fund

Nordkinn Asset Management

Strategy Description

Nordkinn Fixed Income Macro Fund is a discretionary global fixed-income macro fund with a particular focus on Norway and Sweden. By combining top-down macro perspectives with bottom-up securities selection, the fund seeks to generate stable absolute returns with no or limited correlation to traditional markets. To ensure consistency over time, Nordkinn use a “Game Plan” methodology, which sets strict predefined rules to every position in the portfolio.

Fund Information

General Information

NHX CategoryFixed Income
NHX CountrySweden
Legal StructureSwedish Special Fund
Fund DomicileSweden
Minimum Investment1,000,000 SEK
AUM4,656M SEK
Inception DateJul 2013
Management Fee1.00%
Performance Fee20.00%
SFDR Classification -

Company Information

CompanyNordkinn Asset Management
AddressHamngatan 11
Stockholm, 111 47
Phone+46 8 473 40 50
E-mail[email protected]
Websitewww.nordkinn.se
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 0.96 1.12 1.67 -0.22 0.98 2.17 1.90 1.55 1.79 12.56
2023 1.32 -0.50 0.35 0.53 -0.08 0.36 1.02 1.63 1.31 0.61 1.14 -0.76 7.13
2022 0.20 -1.10 -4.61 1.08 -2.53 -3.74 0.57 0.83 0.38 -0.04 1.55 1.46 -6.01
2021 1.52 -2.38 2.64 0.12 -0.49 -1.29 -0.27 -0.10 0.51 -6.13 2.34 0.69 -3.13
2020 1.17 -0.22 -0.40 1.85 1.53 0.27 0.81 0.98 -0.75 -0.74 1.46 0.33 6.43
2019 0.88 0.00 0.03 0.63 0.20 0.88 0.40 -0.92 0.41 0.10 -0.21 0.53 2.96
2018 0.87 -0.21 -0.31 0.51 -0.90 -0.03 1.07 -1.16 1.26 0.19 -1.39 -1.39 -1.53
2017 0.95 0.15 0.74 0.08 -0.24 0.36 0.58 -0.68 0.95 0.03 -0.94 0.72 2.71
2016 -0.92 -0.44 1.18 -0.27 0.67 0.20 0.04 -0.15 0.68 1.00 0.46 0.21 2.67
2015 0.95 0.24 0.85 0.37 -0.26 -0.53 0.91 -0.65 0.00 0.67 0.43 0.50 3.52
2014 0.07 0.22 0.60 0.12 0.29 1.74 1.38 0.14 1.16 -0.31 -0.03 -0.12 5.36
2013 0.38 0.38 0.67 -0.77 0.78 0.57 2.02

Portfolio Managers

Alexander Melsom, Portfolio Manager & Head of Portfolio Risk Management. Prior to co-founding Nordkinn in 2012, Melsom was of Head the FX-reserves at the Central Bank of Norway, as well as portfolio manager at DnB. He holds a M.Sc. degree in International Banking from Herriot-Watt University in Edinburgh and a B.Sc. degree from BI (Norwegian Business School).
 
Anders Augusén, Portfolio Manager. Prior to joining Nordkinn in 2023, Augusén spent 25 years as Portfolio Manager at Nektar Asset Management, AP3 and Frost Asset Management, as well as Head of Short rates trading at SEB and Scandinavian rates trading at Barclays. He holds a B.Sc. degree in Business Administration and Economics from Stockholm University.
 
Anders Haller, Portfolio Manager. Prior to co-founding Nordkinn in 2012, Haller was Senior Dealer at Ericsson Treasury with co-responsibility for managing the group asset management portfolio, with a focus on Nordic and G3 fixed income and FX. He holds a B.Sc. degree in Macro Economics from Lund University.
 
Bjørn Roger Wilhelmsen, Portfolio Manager & Chief Economist. Prior to co-founding Nordkinn in 2012, Wilhelmsen was Chief Strategist at Swedbank First Securities. He has also worked as economist for the Central Bank of Norway, ECB and the Norwegian Ministry of Finance. He holds a M.Sc. degree in Economics from the Norwegian University of Science and Technology.
 
Marcus Söderberg, Portfolio Manager. Prior to joining Nordkinn in 2019, Söderberg spent 16 years at Danske Bank, where he held the position as Senior Fixed Income Strategist, as well as Risk Analyst positions at Nordea and the Central Bank of Sweden. He holds a M.Sc. degree in Economics from Karlstad University.
 
Ronny Eriksson Rostmark, Portfolio Manager. Prior to co-founding Nordkinn in 2012, Eriksson Rostmark was Senior Dealer at Ericsson Treasury with co-responsibility for managing the group asset management portfolio, with a focus on Nordic and G3 fixed income and FX. He holds a M.Sc. degree in Finance from Umeå University in Sweden.

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 -14.71% 14 23 05/2021 05/2024
2 -2.76% 2 7 11/2018 07/2019
3 -2.38% 1 1 02/2021 03/2021
4 -1.48% 2 2 09/2020 12/2020
5 -1.36% 2 3 01/2016 05/2016

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return1.75%1.36%1.07%0.91%0.26%
% Positive100.00%83.33%83.33%79.17%72.22%
Avg. Pos. Period1.75%1.68%1.39%1.23%1.13%
Avg. Neg. Period - -0.22%-0.49%-0.32%-1.97%
Sharpe Ratio40.725.934.504.020.52
Sortino Ratio0.0052.9016.3916.500.59
Monthly Volatility0.15%0.80%0.83%0.78%1.83%

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 2.64%-6.13%0.25%0.37%1.79%67.41%
3 Months 5.72%-6.02%0.72%0.86%5.33%76.69%
6 Months 8.44%-10.35%1.35%1.65%8.44%80.00%
1 Year 13.67%-13.17%2.46%2.69%13.67%79.84%
2 Years 24.20%-11.68%3.69%5.32%24.20%83.04%
3 Years 13.05%-7.29%4.71%6.18%9.62%75.00%
5 Years 18.06%-5.70%8.70%10.59%17.34%81.58%

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

Nordkinn Fixed Income Macro Fund is a discretionary global fixed-income macro fund with a particular focus on Norway and Sweden. By combining top-down macro perspectives with bottom-up securities selection, the fund seeks to generate stable absolute returns with no or limited correlation to traditional markets. To ensure consistency over time, Nordkinn use a “Game Plan” methodology, which sets strict predefined rules to every position in the portfolio.

Fund Information

General Information

NHX CategoryFixed Income
NHX CountrySweden
Legal StructureSwedish Special Fund
Fund DomicileSweden
Minimum Investment1,000,000 SEK
AUM4,656M SEK
Inception DateJul 2013
Management Fee1.00%
Performance Fee20.00%
SFDR Classification -

Company Information

CompanyNordkinn Asset Management
AddressHamngatan 11
Stockholm, 111 47
Phone+46 8 473 40 50
E-mail[email protected]
Websitewww.nordkinn.se
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 0.96 1.12 1.67 -0.22 0.98 2.17 1.90 1.55 1.79 12.56
2023 1.32 -0.50 0.35 0.53 -0.08 0.36 1.02 1.63 1.31 0.61 1.14 -0.76 7.13
2022 0.20 -1.10 -4.61 1.08 -2.53 -3.74 0.57 0.83 0.38 -0.04 1.55 1.46 -6.01
2021 1.52 -2.38 2.64 0.12 -0.49 -1.29 -0.27 -0.10 0.51 -6.13 2.34 0.69 -3.13
2020 1.17 -0.22 -0.40 1.85 1.53 0.27 0.81 0.98 -0.75 -0.74 1.46 0.33 6.43
2019 0.88 0.00 0.03 0.63 0.20 0.88 0.40 -0.92 0.41 0.10 -0.21 0.53 2.96
2018 0.87 -0.21 -0.31 0.51 -0.90 -0.03 1.07 -1.16 1.26 0.19 -1.39 -1.39 -1.53
2017 0.95 0.15 0.74 0.08 -0.24 0.36 0.58 -0.68 0.95 0.03 -0.94 0.72 2.71
2016 -0.92 -0.44 1.18 -0.27 0.67 0.20 0.04 -0.15 0.68 1.00 0.46 0.21 2.67
2015 0.95 0.24 0.85 0.37 -0.26 -0.53 0.91 -0.65 0.00 0.67 0.43 0.50 3.52
2014 0.07 0.22 0.60 0.12 0.29 1.74 1.38 0.14 1.16 -0.31 -0.03 -0.12 5.36
2013 0.38 0.38 0.67 -0.77 0.78 0.57 2.02

Portfolio Managers

Alexander Melsom, Portfolio Manager & Head of Portfolio Risk Management. Prior to co-founding Nordkinn in 2012, Melsom was of Head the FX-reserves at the Central Bank of Norway, as well as portfolio manager at DnB. He holds a M.Sc. degree in International Banking from Herriot-Watt University in Edinburgh and a B.Sc. degree from BI (Norwegian Business School).
 
Anders Augusén, Portfolio Manager. Prior to joining Nordkinn in 2023, Augusén spent 25 years as Portfolio Manager at Nektar Asset Management, AP3 and Frost Asset Management, as well as Head of Short rates trading at SEB and Scandinavian rates trading at Barclays. He holds a B.Sc. degree in Business Administration and Economics from Stockholm University.
 
Anders Haller, Portfolio Manager. Prior to co-founding Nordkinn in 2012, Haller was Senior Dealer at Ericsson Treasury with co-responsibility for managing the group asset management portfolio, with a focus on Nordic and G3 fixed income and FX. He holds a B.Sc. degree in Macro Economics from Lund University.
 
Bjørn Roger Wilhelmsen, Portfolio Manager & Chief Economist. Prior to co-founding Nordkinn in 2012, Wilhelmsen was Chief Strategist at Swedbank First Securities. He has also worked as economist for the Central Bank of Norway, ECB and the Norwegian Ministry of Finance. He holds a M.Sc. degree in Economics from the Norwegian University of Science and Technology.
 
Marcus Söderberg, Portfolio Manager. Prior to joining Nordkinn in 2019, Söderberg spent 16 years at Danske Bank, where he held the position as Senior Fixed Income Strategist, as well as Risk Analyst positions at Nordea and the Central Bank of Sweden. He holds a M.Sc. degree in Economics from Karlstad University.
 
Ronny Eriksson Rostmark, Portfolio Manager. Prior to co-founding Nordkinn in 2012, Eriksson Rostmark was Senior Dealer at Ericsson Treasury with co-responsibility for managing the group asset management portfolio, with a focus on Nordic and G3 fixed income and FX. He holds a M.Sc. degree in Finance from Umeå University in Sweden.

Return Statistics

Last Month Return 1.79%
3 Month Return 5.33%
Year to Date Return 12.56%
12 Month Return 13.67%
36 Month Return 9.62%
Total Return Annualized 2.97%
Winning Months (%) 67.41%
Average Winning Month 0.80%
Average Losing Month -0.93%
Total Return Cumulative 39.01%

Risk Statistics (12M)

1 Year
Sharpe Ratio4.50
Sortino Ratio16.39
Sterling1.27
Calmar18.11
Skewness-1.13
Kurtosis1.47
Maximum Drawdown-0.76%
Correlation vs S&P 5000.23
Annualized Volatility2.87%
Annualized Down. Deviation0.93%

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 -14.71% 14 23 05/2021 05/2024
2 -2.76% 2 7 11/2018 07/2019
3 -2.38% 1 1 02/2021 03/2021
4 -1.48% 2 2 09/2020 12/2020
5 -1.36% 2 3 01/2016 05/2016

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return1.75%1.36%1.07%0.91%0.26%
% Positive100.00%83.33%83.33%79.17%72.22%
Avg. Pos. Period1.75%1.68%1.39%1.23%1.13%
Avg. Neg. Period - -0.22%-0.49%-0.32%-1.97%
Sharpe Ratio40.725.934.504.020.52
Sortino Ratio0.0052.9016.3916.500.59
Monthly Volatility0.15%0.80%0.83%0.78%1.83%

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 2.64%-6.13%0.25%0.37%1.79%67.41%
3 Months 5.72%-6.02%0.72%0.86%5.33%76.69%
6 Months 8.44%-10.35%1.35%1.65%8.44%80.00%
1 Year 13.67%-13.17%2.46%2.69%13.67%79.84%
2 Years 24.20%-11.68%3.69%5.32%24.20%83.04%
3 Years 13.05%-7.29%4.71%6.18%9.62%75.00%
5 Years 18.06%-5.70%8.70%10.59%17.34%81.58%

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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