Nordea Nordic Rates Opportunity II

Nordea Asset Management

Strategy Description

Nordic Rates Opportunity Fund II mainly invests, directly or through derivatives, in Nordic bonds. The strategy mainly invests in covered and government bonds with a strong bias towards Nordic covered bonds.Specifically, the fund invests a minimum of two-thirds of total assets in Nordic covered bonds or debt securities issued by public authorities in Denmark, Sweden, Norway or Finland. The fund also invests at least two thirds of total assets in debt securities with a rating of AAA/Aaa or lower, but not lower than A-/ A3, or equivalent.Nordic Rates Opportunity Fund II seeks to invest in fixed -ncome 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
AUM39M EUR
Inception DateDec 2019
Management Fee1.00%
Performance Fee10.00%
SFDR ClassificationArticle 8

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
2025 2.71 2.71
2024 0.89 1.38 2.56 1.82 3.79 -0.02 1.46 1.06 3.02 0.65 -2.02 2.15 17.94
2023 0.63 2.05 -4.29 1.81 -2.98 -0.28 2.49 1.98 4.42 1.40 1.42 1.51 10.30
2022 0.49 -5.71 0.56 0.99 -5.27 -1.05 -1.02 0.35 -6.78 4.98 4.11 5.77 -3.45
2021 0.28 -0.56 -0.19 0.18 -1.49 0.72 -0.37 0.25 -2.43 1.17 -2.56 2.12 -2.95
2020 0.63 -1.06 -2.69 3.30 2.13 0.43 1.75 1.34 0.16 -0.40 1.68 0.12 7.50
2019 0.02 0.02

Portfolio Managers

Christian Birkehøj Jensen (center), Main Portfolio Manager of Nordea Nordic Rates Opportunity II, holds a MSc in mathematics-economics (MSc) from Aarhus University. During his studies, Jensen specialised in quantitative approaches to interest rate and derivatives pricing. He started at Nordea within the Investment Management Graduate Program in the Danish fixed income team. His current responsibilities are risk measurement and development of quantitative portfolio management tools.

Martin Hagelskjær Nielsen (left) is the Head of the Danish Fixed Income & Euro Covered Bond team at Nordea Asset Management, where he has been working since 2007. Prior to Nordea, Nielsen served as Head of Fixed Income and Derivatives Research at Nykredit Markets (2004–2007), where he was responsible for trade recommendations and market analysis, focusing on the Danish fixed income and EUR covered bond markets. Nielsen began his career at SimCorp Dimension® (1994–1997) as a consultant specializing in Risk Management. He then joined Nykredit Markets as a Senior Analyst (1997–2000), before moving to Nordea Markets as a Quantitative Analyst (2000–2004). Nielsen holds an MSc from the Technical University of Denmark and a Diploma in Finance from Copenhagen Business School.

Henrik Stille (right), the lead portfolio manager of the European covered bond solutions of the Nordea 1, SICAV. He has been working in Nordea’s Danish Fixed Income Team since 2005. Stille began his career as assistant Portfolio Manager after he successfully passed his studies at University of Lund, Sweden. He holds a MSc in Economics and Business Administration and participated in Nordea’s 2-year graduate program. After working as an Assistant Portfolio Manager and completing the Graduate program, he took over the responsibility as a Portfolio Manager in the Danish Fixed Income Team in 2007.

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 -19.17% 20 13 02/2021 10/2023
2 -3.72% 2 2 02/2020 05/2020
3 -2.02% 1 1 11/2024 12/2024
4 -0.40% 1 1 10/2020 11/2020
5 -0.02% 1 1 06/2024 07/2024

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return0.93%1.25%1.54%1.19%0.70%
% Positive66.67%83.33%83.33%79.17%72.22%
Avg. Pos. Period2.43%1.92%2.06%2.03%2.15%
Avg. Neg. Period-2.02%-2.02%-1.02%-1.92%-2.94%
Sharpe Ratio1.552.583.622.140.90
Sortino Ratio2.745.249.123.601.22
Monthly Volatility2.11%1.69%1.48%1.95%2.85%

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 5.77%-6.78%0.51%0.64%2.71%69.35%
3 Months 15.60%-7.41%1.46%0.91%2.80%55.00%
6 Months 13.92%-12.35%3.10%3.21%7.73%63.16%
1 Year 26.27%-15.92%5.53%4.64%20.07%64.71%
2 Years 49.29%-17.81%7.03%2.61%32.77%56.41%
3 Years 28.37%-5.00%8.25%3.90%28.37%81.48%
5 Years 33.74%28.30%31.02%31.03%33.74%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

Nordic Rates Opportunity Fund II mainly invests, directly or through derivatives, in Nordic bonds. The strategy mainly invests in covered and government bonds with a strong bias towards Nordic covered bonds.Specifically, the fund invests a minimum of two-thirds of total assets in Nordic covered bonds or debt securities issued by public authorities in Denmark, Sweden, Norway or Finland. The fund also invests at least two thirds of total assets in debt securities with a rating of AAA/Aaa or lower, but not lower than A-/ A3, or equivalent.Nordic Rates Opportunity Fund II seeks to invest in fixed -ncome 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.

Annual Performance

Fund Information

General Information

NHX CategoryFixed Income
NHX CountryDenmark
Legal StructureSICAV
Fund DomicileLuxembourg
Minimum Investment1,000,000 EUR
AUM39M EUR
Inception DateDec 2019
Management Fee1.00%
Performance Fee10.00%
SFDR ClassificationArticle 8

Company Information

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

Portfolio Managers

Christian Birkehøj Jensen (center), Main Portfolio Manager of Nordea Nordic Rates Opportunity II, holds a MSc in mathematics-economics (MSc) from Aarhus University. During his studies, Jensen specialised in quantitative approaches to interest rate and derivatives pricing. He started at Nordea within the Investment Management Graduate Program in the Danish fixed income team. His current responsibilities are risk measurement and development of quantitative portfolio management tools.

Martin Hagelskjær Nielsen (left) is the Head of the Danish Fixed Income & Euro Covered Bond team at Nordea Asset Management, where he has been working since 2007. Prior to Nordea, Nielsen served as Head of Fixed Income and Derivatives Research at Nykredit Markets (2004–2007), where he was responsible for trade recommendations and market analysis, focusing on the Danish fixed income and EUR covered bond markets. Nielsen began his career at SimCorp Dimension® (1994–1997) as a consultant specializing in Risk Management. He then joined Nykredit Markets as a Senior Analyst (1997–2000), before moving to Nordea Markets as a Quantitative Analyst (2000–2004). Nielsen holds an MSc from the Technical University of Denmark and a Diploma in Finance from Copenhagen Business School.

Henrik Stille (right), the lead portfolio manager of the European covered bond solutions of the Nordea 1, SICAV. He has been working in Nordea’s Danish Fixed Income Team since 2005. Stille began his career as assistant Portfolio Manager after he successfully passed his studies at University of Lund, Sweden. He holds a MSc in Economics and Business Administration and participated in Nordea’s 2-year graduate program. After working as an Assistant Portfolio Manager and completing the Graduate program, he took over the responsibility as a Portfolio Manager in the Danish Fixed Income Team in 2007.

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2025 2.71 2.71
2024 0.89 1.38 2.56 1.82 3.79 -0.02 1.46 1.06 3.02 0.65 -2.02 2.15 17.94
2023 0.63 2.05 -4.29 1.81 -2.98 -0.28 2.49 1.98 4.42 1.40 1.42 1.51 10.30
2022 0.49 -5.71 0.56 0.99 -5.27 -1.05 -1.02 0.35 -6.78 4.98 4.11 5.77 -3.45
2021 0.28 -0.56 -0.19 0.18 -1.49 0.72 -0.37 0.25 -2.43 1.17 -2.56 2.12 -2.95
2020 0.63 -1.06 -2.69 3.30 2.13 0.43 1.75 1.34 0.16 -0.40 1.68 0.12 7.50
2019 0.02 0.02

Return Statistics

Last Month Return 2.71%
3 Month Return 2.80%
Year to Date Return 2.71%
12 Month Return 20.07%
36 Month Return 28.37%
Total Return Annualized 5.92%
Winning Months (%) 69.35%
Average Winning Month 1.69%
Average Losing Month -2.17%
Total Return Cumulative 34.61%

Risk Statistics (12M)

1 Year
Sharpe Ratio3.62
Sortino Ratio9.12
Sterling1.67
Calmar9.93
Skewness-1.10
Kurtosis2.60
Maximum Drawdown-2.02%
Correlation vs S&P 500-0.17
Annualized Volatility5.13%
Annualized Down. Deviation3.47%

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 -19.17% 20 13 02/2021 10/2023
2 -3.72% 2 2 02/2020 05/2020
3 -2.02% 1 1 11/2024 12/2024
4 -0.40% 1 1 10/2020 11/2020
5 -0.02% 1 1 06/2024 07/2024

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return0.93%1.25%1.54%1.19%0.70%
% Positive66.67%83.33%83.33%79.17%72.22%
Avg. Pos. Period2.43%1.92%2.06%2.03%2.15%
Avg. Neg. Period-2.02%-2.02%-1.02%-1.92%-2.94%
Sharpe Ratio1.552.583.622.140.90
Sortino Ratio2.745.249.123.601.22
Monthly Volatility2.11%1.69%1.48%1.95%2.85%

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 5.77%-6.78%0.51%0.64%2.71%69.35%
3 Months 15.60%-7.41%1.46%0.91%2.80%55.00%
6 Months 13.92%-12.35%3.10%3.21%7.73%63.16%
1 Year 26.27%-15.92%5.53%4.64%20.07%64.71%
2 Years 49.29%-17.81%7.03%2.61%32.77%56.41%
3 Years 28.37%-5.00%8.25%3.90%28.37%81.48%
5 Years 33.74%28.30%31.02%31.03%33.74%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.