Tidan Fund

Tidan Capital AB

Strategy Description

Tidan Fund employs a capital structure relative value strategy. The fund focuses on capturing what the investment management team has coined “Value Transfer Alpha.” The portfolio consists of company neutral packages of long and short positions within a firm’s capital structure. The strategy’s market neutral credit versus equity packages are positioned to benefit from companies’ capital allocation decisions and how it drives value transfer across the capital structure. Target return of 7 - 10% net of fees with a volatility of about 5%.

Fund Information

General Information

NHX CategoryDiversified
NHX CountrySweden
Legal StructureRAIF
Fund DomicileLuxembourg
Minimum Investment1,000,000 EUR
AUM50M EUR
Inception DateOct 2021
Management Fee1.00%
Performance Fee20% above 3-month T-bills

Company Information

CompanyTidan Capital AB
Investor RelationsSerge Houles
AddressKommendörsgatan 2
Stockholm, SE-114 48
Phone+46 076 106 15 16
E-mail[email protected]
Websitewww.tidancapital.com
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 0.71 3.52 3.22 -0.76 0.79 3.04 10.91
2023 -0.51 -0.84 -8.49 -0.75 0.85 -1.10 1.20 0.43 3.80 -0.59 1.46 1.83 -3.17
2022 -1.04 0.00 -1.88 0.57 -1.58 -0.98 -0.80 1.55 -0.17 -2.58 -3.63 1.14 -9.11
2021 -0.11 -0.27 0.12 -0.26

Portfolio Managers

Michael Falken, CIO, co-founded Tidan in 2020 with his team from Brummer & Partners. Falken has over 25 years of experience investing throughout the capital structure. He joined Brummer’s Carve fund at launch November 2012 as a portfolio manager responsible for capital structure relative value and credit strategies.
 
Portfolio Manager William Wilson co-founded Tidan in 2020. Wilson joined Michael at Brummer in 2018, having pioneered the capital structure relative value strategy at Goldman Sachs since 2004. Aram Hussein, Trader, Financing and co-founder of Tidan, joined Brummer in 2014 and has a background in trading, portfolio finance and operations.

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 -18.98% 21 0 10/2021 -
2 - - - - -
3 - - - - -
4 - - - - -
5 - - - - -

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return1.01%1.74%1.54%0.11% -
% Positive66.67%83.33%83.33%54.17% -
Avg. Pos. Period1.91%2.26%2.00%1.81% -
Avg. Neg. Period-0.76%-0.76%-0.68%-1.84% -
Sharpe Ratio2.273.813.610.19 -
Sortino Ratio7.9419.3619.200.18 -
Monthly Volatility1.56%1.60%1.49%2.54% -

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 3.80%-8.49%-0.06%-0.11%3.04%45.45%
3 Months 7.62%-9.94%-0.36%-0.26%3.06%41.94%
6 Months 11.15%-14.27%-1.06%-3.46%10.91%35.71%
1 Year 20.18%-16.60%-4.36%-8.63%20.18%22.73%
2 Years 2.58%-14.94%-7.76%-8.85%2.58%10.00%
3 Years ------
5 Years ------

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

Tidan Fund employs a capital structure relative value strategy. The fund focuses on capturing what the investment management team has coined “Value Transfer Alpha.” The portfolio consists of company neutral packages of long and short positions within a firm’s capital structure. The strategy’s market neutral credit versus equity packages are positioned to benefit from companies’ capital allocation decisions and how it drives value transfer across the capital structure. Target return of 7 - 10% net of fees with a volatility of about 5%.

Fund Information

General Information

NHX CategoryDiversified
NHX CountrySweden
Legal StructureRAIF
Fund DomicileLuxembourg
Minimum Investment1,000,000 EUR
AUM50M EUR
Inception DateOct 2021
Management Fee1.00%
Performance Fee20% above 3-month T-bills

Company Information

CompanyTidan Capital AB
Investor RelationsSerge Houles
AddressKommendörsgatan 2
Stockholm, SE-114 48
Phone+46 076 106 15 16
E-mail[email protected]
Websitewww.tidancapital.com
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 0.71 3.52 3.22 -0.76 0.79 3.04 10.91
2023 -0.51 -0.84 -8.49 -0.75 0.85 -1.10 1.20 0.43 3.80 -0.59 1.46 1.83 -3.17
2022 -1.04 0.00 -1.88 0.57 -1.58 -0.98 -0.80 1.55 -0.17 -2.58 -3.63 1.14 -9.11
2021 -0.11 -0.27 0.12 -0.26

Portfolio Managers

Michael Falken, CIO, co-founded Tidan in 2020 with his team from Brummer & Partners. Falken has over 25 years of experience investing throughout the capital structure. He joined Brummer’s Carve fund at launch November 2012 as a portfolio manager responsible for capital structure relative value and credit strategies.
 
Portfolio Manager William Wilson co-founded Tidan in 2020. Wilson joined Michael at Brummer in 2018, having pioneered the capital structure relative value strategy at Goldman Sachs since 2004. Aram Hussein, Trader, Financing and co-founder of Tidan, joined Brummer in 2014 and has a background in trading, portfolio finance and operations.

Return Statistics

Last Month Return 3.04%
3 Month Return 3.06%
Year to Date Return 10.91%
12 Month Return 20.18%
36 Month Return -
Total Return Annualized -0.97%
Winning Months (%) 45.45%
Average Winning Month 1.62%
Average Losing Month -1.53%
Total Return Cumulative -2.63%

Risk Statistics (12M)

1 Year
Sharpe Ratio3.61
Sortino Ratio19.20
Sterling1.87
Calmar26.44
Skewness0.07
Kurtosis-0.66
Maximum Drawdown-0.76%
Correlation vs S&P 5000.28
Annualized Volatility5.16%
Annualized Down. Deviation0.30%

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 -18.98% 21 0 10/2021 -
2 - - - - -
3 - - - - -
4 - - - - -
5 - - - - -

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return1.01%1.74%1.54%0.11% -
% Positive66.67%83.33%83.33%54.17% -
Avg. Pos. Period1.91%2.26%2.00%1.81% -
Avg. Neg. Period-0.76%-0.76%-0.68%-1.84% -
Sharpe Ratio2.273.813.610.19 -
Sortino Ratio7.9419.3619.200.18 -
Monthly Volatility1.56%1.60%1.49%2.54% -

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 3.80%-8.49%-0.06%-0.11%3.04%45.45%
3 Months 7.62%-9.94%-0.36%-0.26%3.06%41.94%
6 Months 11.15%-14.27%-1.06%-3.46%10.91%35.71%
1 Year 20.18%-16.60%-4.36%-8.63%20.18%22.73%
2 Years 2.58%-14.94%-7.76%-8.85%2.58%10.00%
3 Years ------
5 Years ------

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.