Cleaves Asset Management

Cleaves Shipping Fund

Strategy Description

Cleaves Shipping Fund is a shipping-only long/short equity-focused hedge fund. The fund’s objective is to generate an absolute return by identifying cyclical expansions and contractions within the various shipping segments. Although shares in listed companies represent the backbone of the fund’s portfolio composition, Cleaves Shipping Fund can also utilize other investment instruments such as derivatives including forward freight agreements, as well as debt instruments or preferred shares. The fund is not expected to employ leverage due to the volatile and already-leveraged shipping sectors. NOTE: The fund was launched as a Norwegian alternative investment fund in October 2021 until its launch in an Irish ICAV structure in July 2022. The track record of the Norwegian structure can be viewed here.

Fund Information

General Information

NHX CategoryEquities
NHX CountryNorway
Legal StructureQIAIF
Fund DomicileIreland
Minimum Investment100,000 EUR
AUM -
Inception DateJul 2022
Management Fee2.00%
Performance Fee20.00%

Company Information

CompanyCleaves Asset Management
PrincipalCarl-Sigurd Synvis
AddressFrognerstranda 2
Oslo, 0250
Phone+47 21 60 88 19
E-mail[email protected]
Websitewww.cleaves.no
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2023 0.98 13.75 -4.34 -2.23 -6.24 4.46 4.66 -0.37 3.35 3.82 17.72
2022 11.40 1.90 -0.18 10.15 2.16 -4.00 22.41

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 -12.31% 3 5 03/2023 10/2023
2 -4.00% 1 2 12/2022 02/2023
3 -0.18% 1 1 09/2022 10/2022
4 - - - - -
5 - - - - -

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return2.25%1.54%1.20% - -
% Positive66.67%66.67%58.33% - -
Avg. Pos. Period3.59%4.07%4.74% - -
Avg. Neg. Period-0.37%-3.31%-3.44% - -
Sharpe Ratio4.191.440.89 - -
Sortino Ratio36.482.091.63 - -
Monthly Volatility1.87%3.89%5.16% - -

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 13.75%-6.24%2.45%2.03%3.82%62.50%
3 Months 13.31%-12.31%5.77%7.90%6.90%78.57%
6 Months 23.86%-4.48%9.14%9.05%9.58%81.82%
1 Year 28.80%15.45%21.21%21.00%15.45%100.00%
2 Years ------
3 Years ------
5 Years ------

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

Cleaves Shipping Fund is a shipping-only long/short equity-focused hedge fund. The fund’s objective is to generate an absolute return by identifying cyclical expansions and contractions within the various shipping segments. Although shares in listed companies represent the backbone of the fund’s portfolio composition, Cleaves Shipping Fund can also utilize other investment instruments such as derivatives including forward freight agreements, as well as debt instruments or preferred shares. The fund is not expected to employ leverage due to the volatile and already-leveraged shipping sectors. NOTE: The fund was launched as a Norwegian alternative investment fund in October 2021 until its launch in an Irish ICAV structure in July 2022. The track record of the Norwegian structure can be viewed here.

Fund Information

General Information

NHX CategoryEquities
NHX CountryNorway
Legal StructureQIAIF
Fund DomicileIreland
Minimum Investment100,000 EUR
AUM -
Inception DateJul 2022
Management Fee2.00%
Performance Fee20.00%

Company Information

CompanyCleaves Asset Management
PrincipalCarl-Sigurd Synvis
AddressFrognerstranda 2
Oslo, 0250
Phone+47 21 60 88 19
E-mail[email protected]
Websitewww.cleaves.no
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2023 0.98 13.75 -4.34 -2.23 -6.24 4.46 4.66 -0.37 3.35 3.82 17.72
2022 11.40 1.90 -0.18 10.15 2.16 -4.00 22.41

Portfolio Managers

   
No data filled

Return Statistics

Last Month Return -
3 Month Return 6.90%
Year to Date Return 17.72%
12 Month Return 15.45%
36 Month Return -
Total Return Annualized 31.52%
Winning Months (%) 62.50%
Average Winning Month 5.66%
Average Losing Month -2.89%
Total Return Cumulative 44.10%

Risk Statistics (12M)

1 Year
Sharpe Ratio0.89
Sortino Ratio1.63
Sterling0.69
Calmar1.26
Skewness0.94
Kurtosis2.48
Maximum Drawdown-12.31%
Correlation vs S&P 500-0.03
Annualized Volatility17.88%
Annualized Down. Deviation6.90%

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 -12.31% 3 5 03/2023 10/2023
2 -4.00% 1 2 12/2022 02/2023
3 -0.18% 1 1 09/2022 10/2022
4 - - - - -
5 - - - - -

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return2.25%1.54%1.20% - -
% Positive66.67%66.67%58.33% - -
Avg. Pos. Period3.59%4.07%4.74% - -
Avg. Neg. Period-0.37%-3.31%-3.44% - -
Sharpe Ratio4.191.440.89 - -
Sortino Ratio36.482.091.63 - -
Monthly Volatility1.87%3.89%5.16% - -

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 13.75%-6.24%2.45%2.03%3.82%62.50%
3 Months 13.31%-12.31%5.77%7.90%6.90%78.57%
6 Months 23.86%-4.48%9.14%9.05%9.58%81.82%
1 Year 28.80%15.45%21.21%21.00%15.45%100.00%
2 Years ------
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.

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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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