Lucerne Nordic Fund

Lucerne Capital Management

Strategy Description

The Lucerne Nordic Fund employs a long/short equity strategy focused on the Nordic region and maintains a concentrated portfolio of 20 to 50 names. The universe includes around 400 Nordic companies with market capitalizations between $200 million and $5 billion. The Lucerne Nordic Fund focuses on investing in high-quality companies and management teams, striving to avoid permanent losses of capital. The investment strategy reflects a buyer’s perspective of owning high-quality assets at attractive prices for the long-run. Research is focused on identifying investment opportunities that the investment team believes may provide at least 30% upside potential, both on the long and short sides.

Fund Information

General Information

NHX CategoryEquities
NHX Country -
Legal StructureFund
Fund DomicileCayman Islands
Minimum Investment250,000 USD
AUM -
Inception DateFeb 2015
Management Fee1.50%
Performance Fee20.00%

Company Information

CompanyLucerne Capital Management
Address35 Mason Street
Greenwich, CT 06830
Phone+1 (203) 983-4490
E-mail[email protected]
Websitewww.lucernecap.com
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 2.28 7.85 3.16 -1.12 1.35 14.04
2023 2.84 -0.26 -4.02 -1.46 7.79 0.52 -0.72 5.93 -0.25 -1.27 -10.01 6.47 4.31
2022 -17.77 -11.09 -1.87 -6.51 -2.23 -4.32 3.33 -2.59 -4.77 -0.70 1.11 -1.38 -40.45
2021 6.45 7.44 -3.30 1.17 -3.21 -2.08 1.19 1.95 1.85 4.52 1.63 4.95 24.22
2020 0.81 -1.55 -13.54 5.56 13.54 9.91 11.00 6.39 4.44 -7.35 10.51 24.01 77.02
2019 5.11 6.97 3.17 7.62 -0.41 4.89 -0.42 -0.86 5.89 3.54 3.76 5.24 54.13
2018 3.55 -2.42 -4.12 6.19 4.16 -0.52 1.01 0.01 -0.13 -7.70 -2.65 -4.29 -7.51
2017 1.20 4.00 -0.77 2.33 5.31 0.74 1.14 -0.05 4.09 0.63 -3.77 2.20 18.07
2016 -5.76 -0.44 0.88 3.15 5.62 -3.30 2.83 3.12 0.70 1.17 2.72 1.78 12.62
2015 1.31 8.76 1.57 4.79 -2.25 2.27 3.48 1.30 2.55 10.35 5.77 47.10

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 -42.23% 16 0 01/2022 -
2 -14.88% 2 2 02/2020 05/2020
3 -14.11% 4 4 09/2018 04/2019
4 -7.35% 1 1 10/2020 11/2020
5 -7.28% 4 4 03/2021 10/2021

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return1.11%3.29%1.08%0.32%-0.58%
% Positive66.67%83.33%58.33%45.83%47.22%
Avg. Pos. Period2.26%4.22%3.94%3.88%3.45%
Avg. Neg. Period-1.12%-1.12%-2.67%-2.53%-3.92%
Sharpe Ratio2.233.810.910.34-0.29
Sortino Ratio5.9724.911.270.42-0.46
Monthly Volatility1.75%3.03%4.50%4.11%5.14%

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 24.01%-17.77%1.46%1.31%1.35%63.39%
3 Months 45.88%-28.26%4.58%4.66%3.38%71.82%
6 Months 62.47%-37.26%9.10%9.07%21.42%72.90%
1 Year 128.15%-40.45%19.46%17.24%13.76%76.24%
2 Years 177.53%-38.77%42.83%37.62%8.02%79.78%
3 Years 238.92%-25.86%72.68%62.78%-18.75%90.91%
5 Years 309.04%76.03%157.85%125.69%93.10%100.00%

Volatility (12 Months Rolling)

CORRELATION (12 MONTH ROLLING)

AUM (EUR)

Chart not applicable - The program has no AUM data

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 Lucerne Nordic Fund employs a long/short equity strategy focused on the Nordic region and maintains a concentrated portfolio of 20 to 50 names. The universe includes around 400 Nordic companies with market capitalizations between $200 million and $5 billion. The Lucerne Nordic Fund focuses on investing in high-quality companies and management teams, striving to avoid permanent losses of capital. The investment strategy reflects a buyer’s perspective of owning high-quality assets at attractive prices for the long-run. Research is focused on identifying investment opportunities that the investment team believes may provide at least 30% upside potential, both on the long and short sides.

Fund Information

General Information

NHX CategoryEquities
NHX Country -
Legal StructureFund
Fund DomicileCayman Islands
Minimum Investment250,000 USD
AUM -
Inception DateFeb 2015
Management Fee1.50%
Performance Fee20.00%

Company Information

CompanyLucerne Capital Management
Address35 Mason Street
Greenwich, CT 06830
Phone+1 (203) 983-4490
E-mail[email protected]
Websitewww.lucernecap.com
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 2.28 7.85 3.16 -1.12 1.35 14.04
2023 2.84 -0.26 -4.02 -1.46 7.79 0.52 -0.72 5.93 -0.25 -1.27 -10.01 6.47 4.31
2022 -17.77 -11.09 -1.87 -6.51 -2.23 -4.32 3.33 -2.59 -4.77 -0.70 1.11 -1.38 -40.45
2021 6.45 7.44 -3.30 1.17 -3.21 -2.08 1.19 1.95 1.85 4.52 1.63 4.95 24.22
2020 0.81 -1.55 -13.54 5.56 13.54 9.91 11.00 6.39 4.44 -7.35 10.51 24.01 77.02
2019 5.11 6.97 3.17 7.62 -0.41 4.89 -0.42 -0.86 5.89 3.54 3.76 5.24 54.13
2018 3.55 -2.42 -4.12 6.19 4.16 -0.52 1.01 0.01 -0.13 -7.70 -2.65 -4.29 -7.51
2017 1.20 4.00 -0.77 2.33 5.31 0.74 1.14 -0.05 4.09 0.63 -3.77 2.20 18.07
2016 -5.76 -0.44 0.88 3.15 5.62 -3.30 2.83 3.12 0.70 1.17 2.72 1.78 12.62
2015 1.31 8.76 1.57 4.79 -2.25 2.27 3.48 1.30 2.55 10.35 5.77 47.10

Portfolio Managers

No data filled

Return Statistics

Last Month Return 1.35%
3 Month Return 3.38%
Year to Date Return 14.04%
12 Month Return 13.76%
36 Month Return -18.75%
Total Return Annualized 17.04%
Winning Months (%) 63.39%
Average Winning Month 4.32%
Average Losing Month -3.49%
Total Return Cumulative 334.33%

Risk Statistics (12M)

1 Year
Sharpe Ratio0.91
Sortino Ratio1.27
Sterling0.64
Calmar1.21
Skewness-1.05
Kurtosis3.30
Maximum Drawdown-11.37%
Correlation vs S&P 500-0.13
Annualized Volatility15.58%
Annualized Down. Deviation12.77%

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 -42.23% 16 0 01/2022 -
2 -14.88% 2 2 02/2020 05/2020
3 -14.11% 4 4 09/2018 04/2019
4 -7.35% 1 1 10/2020 11/2020
5 -7.28% 4 4 03/2021 10/2021

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return1.11%3.29%1.08%0.32%-0.58%
% Positive66.67%83.33%58.33%45.83%47.22%
Avg. Pos. Period2.26%4.22%3.94%3.88%3.45%
Avg. Neg. Period-1.12%-1.12%-2.67%-2.53%-3.92%
Sharpe Ratio2.233.810.910.34-0.29
Sortino Ratio5.9724.911.270.42-0.46
Monthly Volatility1.75%3.03%4.50%4.11%5.14%

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 24.01%-17.77%1.46%1.31%1.35%63.39%
3 Months 45.88%-28.26%4.58%4.66%3.38%71.82%
6 Months 62.47%-37.26%9.10%9.07%21.42%72.90%
1 Year 128.15%-40.45%19.46%17.24%13.76%76.24%
2 Years 177.53%-38.77%42.83%37.62%8.02%79.78%
3 Years 238.92%-25.86%72.68%62.78%-18.75%90.91%
5 Years 309.04%76.03%157.85%125.69%93.10%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.