Refima Capital Management A/S

Refima Capital Partners A/S

Strategy Description

Refima Capital Partners (RCP) specializes in corporate bond investments across Scandinavia, Northern, and Central Europe. The fund seeks to maintain a diversified portfolio comprising approximately 30-40 corporate bonds spanning various industries, bond types, and rating classes. RCP invests across all types of capital, including secured and unsecured senior capital, responsible capital, hybrid capital in companies, and AT1/RT1 capital in banks and insurance companies. RCP operates with leverage and utilizes derivative interest instruments to enhance risk-adjusted returns. Loan financing is primarily obtained through the repo market, where attractive financing can be obtained on a monthly basis. Additionally, RCP employs derivative positions, currently limited to interest rate futures, to hedge or adjust interest and credit risks.

Fund Information

General Information

NHX CategoryFixed Income
NHX CountryDenmark
Legal StructureAlternative Investment Fund
Fund DomicileDenmark
Minimum Investment1,000,000 DKK
AUM159M DKK
Inception DateMar 2017
Management Fee1 bp (0.01%) per month
Performance Fee15.00%

Company Information

CompanyRefima Capital Management A/S
PrincipalNicolai Wenck von Wenckheim
AddressToldbodgade 51B
Copenhagen, 1253
Phone(+45) 70 26 26 16
E-mail[email protected]
Websitewww.refimacap.dk
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 2.10 0.80 1.72 -0.26 4.41
2023 2.77 0.81 -3.07 0.35 0.47 0.43 2.07 0.45 0.81 -0.66 3.20 4.23 12.30
2022 -1.49 -4.58 1.04 -0.61 -1.20 -6.72 4.22 0.28 -8.13 1.83 4.54 0.95 -10.24
2021 1.06 1.91 2.12 2.00 0.80 1.54 0.32 0.88 1.48 1.68 -2.98 2.44 13.96
2020 -0.10 -3.02 -37.15 16.85 4.82 4.82 1.79 4.26 0.06 0.58 8.32 2.44 -7.35
2019 3.16 3.33 0.38 5.71 -2.23 4.89 2.69 0.05 1.49 1.72 2.36 3.08 29.81
2018 7.03 -3.04 -1.83 1.38 -8.26 1.40 2.67 -0.37 -2.61 -16.62 -1.44 -2.36 -23.20
2017 5.55 4.08 3.47 4.58 1.63 -0.13 3.80 0.40 2.71 5.32 36.02

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 -43.28% 26 46 02/2018 01/2024
2 -0.26% 1 0 04/2024 -
3 -0.13% 1 1 08/2017 09/2017
4 - - - - -
5 - - - - -

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return0.75%1.95%1.27%0.45%0.31%
% Positive66.67%83.33%83.33%75.00%72.22%
Avg. Pos. Period1.26%2.41%1.63%1.78%1.62%
Avg. Neg. Period-0.26%-0.26%-0.46%-3.34%-2.97%
Sharpe Ratio3.234.623.240.590.45
Sortino Ratio17.3163.7821.500.700.52
Monthly Volatility0.81%1.47%1.37%2.95%2.69%

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 16.85%-37.15%0.67%1.39%-0.26%73.26%
3 Months 28.39%-39.11%1.80%3.73%2.27%69.05%
6 Months 36.33%-34.65%2.99%6.35%12.31%66.67%
1 Year 60.03%-26.13%3.86%0.28%16.36%50.67%
2 Years 64.68%-40.41%4.55%4.02%11.51%69.84%
3 Years 56.30%-21.77%8.37%5.42%11.81%62.75%
5 Years 38.17%-9.27%11.42%4.78%27.55%62.96%

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

Refima Capital Partners (RCP) specializes in corporate bond investments across Scandinavia, Northern, and Central Europe. The fund seeks to maintain a diversified portfolio comprising approximately 30-40 corporate bonds spanning various industries, bond types, and rating classes. RCP invests across all types of capital, including secured and unsecured senior capital, responsible capital, hybrid capital in companies, and AT1/RT1 capital in banks and insurance companies. RCP operates with leverage and utilizes derivative interest instruments to enhance risk-adjusted returns. Loan financing is primarily obtained through the repo market, where attractive financing can be obtained on a monthly basis. Additionally, RCP employs derivative positions, currently limited to interest rate futures, to hedge or adjust interest and credit risks.

Fund Information

General Information

NHX CategoryFixed Income
NHX CountryDenmark
Legal StructureAlternative Investment Fund
Fund DomicileDenmark
Minimum Investment1,000,000 DKK
AUM159M DKK
Inception DateMar 2017
Management Fee1 bp (0.01%) per month
Performance Fee15.00%

Company Information

CompanyRefima Capital Management A/S
PrincipalNicolai Wenck von Wenckheim
AddressToldbodgade 51B
Copenhagen, 1253
Phone(+45) 70 26 26 16
E-mail[email protected]
Websitewww.refimacap.dk
Social Media

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 2.10 0.80 1.72 -0.26 4.41
2023 2.77 0.81 -3.07 0.35 0.47 0.43 2.07 0.45 0.81 -0.66 3.20 4.23 12.30
2022 -1.49 -4.58 1.04 -0.61 -1.20 -6.72 4.22 0.28 -8.13 1.83 4.54 0.95 -10.24
2021 1.06 1.91 2.12 2.00 0.80 1.54 0.32 0.88 1.48 1.68 -2.98 2.44 13.96
2020 -0.10 -3.02 -37.15 16.85 4.82 4.82 1.79 4.26 0.06 0.58 8.32 2.44 -7.35
2019 3.16 3.33 0.38 5.71 -2.23 4.89 2.69 0.05 1.49 1.72 2.36 3.08 29.81
2018 7.03 -3.04 -1.83 1.38 -8.26 1.40 2.67 -0.37 -2.61 -16.62 -1.44 -2.36 -23.20
2017 5.55 4.08 3.47 4.58 1.63 -0.13 3.80 0.40 2.71 5.32 36.02

Portfolio Managers

 
No data filled

Return Statistics

Last Month Return -
3 Month Return 2.27%
Year to Date Return 4.41%
12 Month Return 16.36%
36 Month Return 11.81%
Total Return Annualized 5.89%
Winning Months (%) 73.26%
Average Winning Month 2.64%
Average Losing Month -4.73%
Total Return Cumulative 50.71%

Risk Statistics (12M)

1 Year
Sharpe Ratio3.24
Sortino Ratio21.50
Sterling1.53
Calmar24.79
Skewness0.89
Kurtosis0.95
Maximum Drawdown-0.66%
Correlation vs S&P 5000.61
Annualized Volatility4.75%
Annualized Down. Deviation0.69%

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 -43.28% 26 46 02/2018 01/2024
2 -0.26% 1 0 04/2024 -
3 -0.13% 1 1 08/2017 09/2017
4 - - - - -
5 - - - - -

Drawdown

Up Capture vs. NHX Composite

Down Capture vs. NHX Composite

Time Window Analysis

3 Months6 Months1 Year2 Years3 Years
Avg. Monthly Return0.75%1.95%1.27%0.45%0.31%
% Positive66.67%83.33%83.33%75.00%72.22%
Avg. Pos. Period1.26%2.41%1.63%1.78%1.62%
Avg. Neg. Period-0.26%-0.26%-0.46%-3.34%-2.97%
Sharpe Ratio3.234.623.240.590.45
Sortino Ratio17.3163.7821.500.700.52
Monthly Volatility0.81%1.47%1.37%2.95%2.69%

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 16.85%-37.15%0.67%1.39%-0.26%73.26%
3 Months 28.39%-39.11%1.80%3.73%2.27%69.05%
6 Months 36.33%-34.65%2.99%6.35%12.31%66.67%
1 Year 60.03%-26.13%3.86%0.28%16.36%50.67%
2 Years 64.68%-40.41%4.55%4.02%11.51%69.84%
3 Years 56.30%-21.77%8.37%5.42%11.81%62.75%
5 Years 38.17%-9.27%11.42%4.78%27.55%62.96%

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.