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Best & Worst Funds – February 2022

The best and worst funds for February 2022, are dominated by strategies that have high sensitivity to the war in Ukraine. In particular, we note that some of the best funds had a substantial allocation to commodities.

Based on the latest available return data, we can present the best and worst strategies per category, both on a monthly and on a yearly basis. This is calculated from our proprietary composite data streams but may contain errors. These are not filtered for Asset Under Management and are ranked on a simple return metric without adjusting for volatility. We only rank funds that have reported returns for the current reporting month.

CTA

While the general CTA tends to be trend-driven, most of the outliers are driven by specific markets or market effects. The dispersion for the best/worst funds are high, but you may learn something about how they and correlated strategies react to different market developments. To the see full CTA list, with dynamic rankings, please see https://nilssonhedge.com/reports/nilsson-report/cta-rankings/

AIS Capital Management : MAAP 3-6X  :  26.84% [68.10]<br> Algo Capital : Energy  :  26.03% [7.32]<br> Worldwide Capital Strategies : Profit Quest Macro World  :  20.61% [6.61]<br> AIS Capital Management : MAAP 2-4X  :  16.53% [18.71]<br> Ditsch Trading : Agricultural Trading Program  :  13.45% [4.30]<br> Superfund Capital Management : Green Silver SICAV  :  12.05% [127.48]<br> Glenhaven Capital : Glenhaven Global II  :  11.94% [4.36]<br> Schot Capital Limited : Multi Diversified Program Mini  :  10.99% [0.60]<br> Transtrend BV : Tulip Trend Fund  :  10.29% [124.51]<br> FX NOR AS : Global Makro  :  10.20% [0.00]<br> Polar Star Management : Polar Star Diversified Commodity Fund  :  -8.30% [4.80]<br> First Quadrant LP : FQ Macro FX - 20% Risk  :  -8.94% [111.00]<br> 120 Capital Management : Quantamental Global Macro Program  :  -9.36% [10.70]<br> Estlander & Partners : Freedom  :  -10.26% [16.80]<br> Plain Capital : BronX  :  -10.37% [17.60]<br> Invest In Vol : Smart Vol  :  -10.95% [31.17]<br> Polar Star Management : Polar Star Spectrum Fund Limited  :  -11.50% [114.00]<br> ABR : Enhanced Short Volatility  :  -11.72% [12.70]<br> QTS Capital Management : Theta Scraper  :  -12.31% [0.50]<br> Kopis Capital Management : Commodity Long Short  :  -16.48% [0.65]

AIS Capital Management : MAAP 3-6X  :  26.84% [68.10]<br> Algo Capital : Energy  :  26.03% [7.32]<br> Skylar Capital Management : Natural Gas And Power  :  9.90% [221.71]<br> AIS Capital Management : MAAP 2-4X  :  16.53% [18.71]<br> Quantitative Investment Management : Global Program 3x  :  -1.26% [97.50]<br> RCMA Capital : Merchant Commodity Fund  :  8.20% [319.00]<br> Worldwide Capital Strategies : Profit Quest Macro World  :  20.61% [6.61]<br> Mulvaney Capital Management : Global Diversified Program  :  6.48% [171.00]<br> Purple Valley Capital : Diversified Trend 1  :  7.58% [6.70]<br> The Great O'Neill : Great O'Neill  :  9.29% [1.00]<br> Fort LP : Global Contrarian UCITS  :  -5.75% [423.66]<br> ecamos Capital AG : ecamos Volatility Strategy 2X  :  -3.67% [66.70]<br> Estlander & Partners : Freedom  :  -10.26% [16.80]<br> Plain Capital : BronX  :  -10.37% [17.60]<br> Moddco Capital Associates : MCA  :  -4.11% [0.03]<br> QTS Capital Management : Theta Scraper  :  -12.31% [0.50]<br> Sizemore Capital Management : Blue Orbit Capital  :  -5.02% [8.42]<br> 120 Capital Management : Quantamental Global Macro Program  :  -9.36% [10.70]<br> Invest In Vol : Smart Vol  :  -10.95% [31.17]<br> ABR : Enhanced Short Volatility  :  -11.72% [12.70]<br> >

Market Neutral

Market Neutral is one of the least volatile strategies, where returns tend to accumulate over time, rather than printing lumpy returns on the upside or downside. Factor performance tends to dominate the average performance, but specific funds can be exposed to specific strategies that are not captured by academic factors. To explore our extensive Market Neutral list, with dynamic rankings, please see https://nilssonhedge.com/reports/nilsson-report/market-neutral-rankings/

Equity Long/Short

As per common knowledge, half of the returns for Equity Long/Short strategies are driven by the underlying equity markets. Performance for the best and worst managers is typically driven by idiosyncratic security-specific situations. To explore our extensive Equity Long/Short list, with dynamic rankings, please see https://nilssonhedge.com/reports/nilsson-report/equity-long-short-rankings/

Event Driven

Event-Driven managers are commonly exposed to various arbitrage/spread risks related to specialist situations securities. Managers with concentrated exposure tend to end up on this list and exploring the drivers of out or underperformance may yield insights. To explore our extensive Event-Driven list, with dynamic rankings, please see https://nilssonhedge.com/reports/nilsson-report/event-driven-rankings/

Fixed Income

Like Equity Long/Short managers, Fixed Income managers are usually driven by the underlying market conditions. For this list, we typically find managers that are sensitive to a specific subsector, and especially managers that are engaged in the lowest part of the capital structure. To explore our extensive Fixed Income list, with dynamic rankings, please see https://nilssonhedge.com/reports/nilsson-report/fixed-income-rankings/

Risk Premia

Risk Premia managers are commonly implemented well explored and researched systematic strategies. These may be viewed as a general proxy for Hedge Fund exposure. Performance of specific factors may reveal differences and similarities to your own portfolio. To explore our extensive Risk Premia list, with dynamic rankings, please see https://nilssonhedge.com/reports/nilsson-report/risk-premia-rankings/

Crypto

As usual Crypto traders are the wildest bunch on the street. Returns tend to be double-digit (or even triple-digit for the best funds), simply due to the volatility of the asset class. To explore our extensive Crypto Strategy list, with dynamic rankings, please see https://nilssonhedge.com/reports/nilsson-report/crypto-strategy-rankings/

Past performance is not indicate of future results.

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