Nordea European Rates Opportunity Fund

Nordea Asset Management

Strategy Description

European Rates Opportunity Fund mainly invests, directly or through derivatives, in European bonds. The strategy mainly invests in covered and government bonds with a strong bias towards European covered bonds. Specifically, the fund invests a minimum of two-thirds of total assets in European covered bonds or debt securities issued by public authorities in Europe. The fund also invests at least one-third of total assets in debt securities with a rating of AAA/Aaa or lower, but not lower than AA-/ Aa3, or equivalent. European Rates Opportunity Fund seeks to run fixed-income strategies that offer attractive relative value instead of relying on directional positions. The actively managed strategy follows a risk-based approach focusing on quantitative research.

Fund Information

General Information

NHX CategoryFixed Income
NHX CountryDenmark
Legal StructureSICAV
Fund DomicileLuxembourg
Minimum Investment1,000,000 EUR
AUM314M EUR
Inception DateJun 2019
Management Fee1.00%
Performance Fee10.00%
SFDR Classification -

Company Information

CompanyNordea Asset Management
Investor RelationsFrank Klahsen
AddressStrandgade 3
Copenhagen, 1401
Phone+45 55468881
E-mail[email protected]
Websitewww.nordea.dk
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 0.20 4.58 3.82 3.97 0.89 -4.52 3.81 2.39 3.41 19.75
2023 -0.29 1.02 -8.19 -0.49 -1.84 3.79 1.34 -1.64 1.14 3.07 -2.30 5.24 0.16
2022 -1.25 0.14 5.20 -0.22 -1.11 -1.51 1.04 1.24 -6.62 2.47 5.82 5.20 10.16
2021 0.73 -1.30 4.40 -1.14 0.14 0.31 0.94 -0.24 0.84 -0.07 -3.48 1.39 2.36
2020 2.84 -1.21 -3.98 0.14 5.89 2.73 1.47 1.40 0.69 2.88 0.53 -0.33 13.49
2019 0.31 0.31 0.53 1.68 1.39 -1.10 -0.44 2.68

Portfolio Managers

Nordea European Rates Opportunity Fund is managed by Nordea Asset Management’s Copenhagen-based Fixed Income and Covered Bonds team led by Martin Hagelskjær Nielsen.

Family of Funds

Company Programs
Nordea Nordic Rates Opportunity Fund II

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 -10.32% 3 9 03/2023 02/2024
2 -7.17% 6 2 04/2022 11/2022
3 -5.14% 2 2 02/2020 05/2020
4 -4.52% 1 2 06/2024 08/2024
5 -3.55% 2 4 10/2021 03/2022

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return3.20%1.61%2.01%1.31%0.71%
% Positive100.00%83.33%83.33%70.83%61.11%
Avg. Pos. Period3.20%2.89%3.14%3.07%2.78%
Avg. Neg. Period - -4.52%-3.41%-2.75%-2.40%
Sharpe Ratio18.501.942.501.440.82
Sortino Ratio0.003.034.752.241.17
Monthly Volatility0.60%2.95%2.83%3.29%3.24%

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 5.89%-8.19%0.75%0.71%3.41%65.63%
3 Months 14.07%-10.32%2.17%1.68%9.90%74.19%
6 Months 20.10%-7.22%4.23%3.44%10.07%79.66%
1 Year 26.91%-5.56%7.90%7.81%26.91%88.68%
2 Years 36.82%-0.88%12.96%13.07%36.82%97.56%
3 Years 29.22%6.96%18.49%20.22%29.22%100.00%
5 Years 53.23%42.96%49.00%50.19%53.23%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

European Rates Opportunity Fund mainly invests, directly or through derivatives, in European bonds. The strategy mainly invests in covered and government bonds with a strong bias towards European covered bonds. Specifically, the fund invests a minimum of two-thirds of total assets in European covered bonds or debt securities issued by public authorities in Europe. The fund also invests at least one-third of total assets in debt securities with a rating of AAA/Aaa or lower, but not lower than AA-/ Aa3, or equivalent. European Rates Opportunity Fund seeks to run fixed-income strategies that offer attractive relative value instead of relying on directional positions. The actively managed strategy follows a risk-based approach focusing on quantitative research.

Fund Information

General Information

NHX CategoryFixed Income
NHX CountryDenmark
Legal StructureSICAV
Fund DomicileLuxembourg
Minimum Investment1,000,000 EUR
AUM314M EUR
Inception DateJun 2019
Management Fee1.00%
Performance Fee10.00%
SFDR Classification -

Company Information

CompanyNordea Asset Management
Investor RelationsFrank Klahsen
AddressStrandgade 3
Copenhagen, 1401
Phone+45 55468881
E-mail[email protected]
Websitewww.nordea.dk
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 0.20 4.58 3.82 3.97 0.89 -4.52 3.81 2.39 3.41 19.75
2023 -0.29 1.02 -8.19 -0.49 -1.84 3.79 1.34 -1.64 1.14 3.07 -2.30 5.24 0.16
2022 -1.25 0.14 5.20 -0.22 -1.11 -1.51 1.04 1.24 -6.62 2.47 5.82 5.20 10.16
2021 0.73 -1.30 4.40 -1.14 0.14 0.31 0.94 -0.24 0.84 -0.07 -3.48 1.39 2.36
2020 2.84 -1.21 -3.98 0.14 5.89 2.73 1.47 1.40 0.69 2.88 0.53 -0.33 13.49
2019 0.31 0.31 0.53 1.68 1.39 -1.10 -0.44 2.68

Portfolio Managers

Nordea European Rates Opportunity Fund is managed by Nordea Asset Management’s Copenhagen-based Fixed Income and Covered Bonds team led by Martin Hagelskjær Nielsen.

Family of Funds

Company Programs
Nordea Nordic Rates Opportunity Fund II

Return Statistics

Last Month Return 3.41%
3 Month Return 9.90%
Year to Date Return 19.75%
12 Month Return 26.91%
36 Month Return 29.22%
Total Return Annualized 8.90%
Winning Months (%) 65.63%
Average Winning Month 2.17%
Average Losing Month -1.97%
Total Return Cumulative 57.60%

Risk Statistics (12M)

1 Year
Sharpe Ratio2.50
Sortino Ratio4.75
Sterling1.85
Calmar5.95
Skewness-1.45
Kurtosis1.87
Maximum Drawdown-4.52%
Correlation vs S&P 500-0.38
Annualized Volatility9.81%
Annualized Down. Deviation3.85%

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 -10.32% 3 9 03/2023 02/2024
2 -7.17% 6 2 04/2022 11/2022
3 -5.14% 2 2 02/2020 05/2020
4 -4.52% 1 2 06/2024 08/2024
5 -3.55% 2 4 10/2021 03/2022

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return3.20%1.61%2.01%1.31%0.71%
% Positive100.00%83.33%83.33%70.83%61.11%
Avg. Pos. Period3.20%2.89%3.14%3.07%2.78%
Avg. Neg. Period - -4.52%-3.41%-2.75%-2.40%
Sharpe Ratio18.501.942.501.440.82
Sortino Ratio0.003.034.752.241.17
Monthly Volatility0.60%2.95%2.83%3.29%3.24%

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 5.89%-8.19%0.75%0.71%3.41%65.63%
3 Months 14.07%-10.32%2.17%1.68%9.90%74.19%
6 Months 20.10%-7.22%4.23%3.44%10.07%79.66%
1 Year 26.91%-5.56%7.90%7.81%26.91%88.68%
2 Years 36.82%-0.88%12.96%13.07%36.82%97.56%
3 Years 29.22%6.96%18.49%20.22%29.22%100.00%
5 Years 53.23%42.96%49.00%50.19%53.23%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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