NilssonHedge provides an (Equity) Market Neutral hedge fund index, based on the average return. We do not provide backtracked returns nor do we allow for “instant track-records”. The members of the index will be disclosed for the 2021 version. The Index contains relatively few funds in the early period
The purpose of the index is to track funds that are reporting data publically and may thus exclude certain managers that have chosen not to do so.
The index is based on managers that are part of the database as of the end of the prior year. We do not impose minimum requirements on track records or aum for this subset.
Managers that drop out of the index are replaced with the average return of the index.
Index Constituents
2026
2025
2024
2023
2022
2021
2020
2019
| Manager | Program |
|---|---|
| ABCA Asset Management | ABCA Opportunities |
| Amber Capital | Equity Fund (UCITS) |
| Ansa Capital Management | Ansa – Global Q Equity Market Neutral |
| AQR Capital Management | Adaptive Equity Market Neutral |
| AQR Capital Management | Equity Market Neutral |
| BDL Capital | Durandal |
| Blackrock | Asia-Pacific Diversified |
| Blackrock | European Absolute Return |
| BNP Theam | Quant Dispersion US |
| BPI | Alternative Iberian Equities |
| Campbell & Company | Campbell Quantitative Equities Portfolio |
| Candriam Investors Group | Absolute Return Equity Market Neutral |
| Candriam Investors Group | Equities ESG Market Neutral |
| Candriam Investors Group | Index Arbitrage |
| Crossmark Steward | Equity MN Instl |
| Desjardins Global Asset Management | Alt Long Short Global Equity Market ETF |
| DNCA Invest | Miuri |
| Estee Management Limited | Estee India Fund |
| Exane | Ceres |
| Exane | Overdrive |
| Exane | Pleiade |
| Federated Hermes | MDT Market Neutral |
| Fidelity | Equity Market Neutral ETF |
| First Private | Artellium Evolution |
| Fortem Capital | Absolute Return |
| Fulcrum Asset Management | Thematic Equity Market |
| Gotham | Gotham Neutral |
| Grand Alliance Asset Management | Sino Vision Greater China Market Neutral |
| Hedge Invest | UK Select |
| Invesco | Invesco All Cap Market Neutral |
| JPMorgan | Europe Equity Absolute |
| JPMorgan | JPMorgan Research Market Neutral |
| KLP Kapitalforvaltning AS | KLP Alfa Global Energi |
| Lombard Odier Investment Managers | Dataedge Market Neutral |
| Machina Capital | Machina Neutron |
| Machina Capital | Systematic Equity |
| Man GLG | GLG Alpha Select |
| Man GLG | GLG UK Absolute Value |
| Markov Capital | ORCA Hedge Fund |
| MarshallWace | ESG Market Neutral |
| MarshallWace | MW Eureka Fund A1 |
| MarshallWace | MW Global Opportunities A |
| MarshallWace | MW Market Neutral TOPS Fund A USD |
| MarshallWace | MW Tops |
| MarshallWace | MW Tops Market Neutral |
| MarshallWace | Top Global Titan |
| Merian Global Investors | Global Equity Absolute |
| Meriti Capital | Meriti Neutral |
| MQS Management | Equity Market Neutral Strategy |
| Nanjia Capital Limited | Cyrus |
| Neo Ivy Capital Management | Neo Ivy |
| Nomura | Alpha Japan Neutral (Seven Seas) |
| Parallax Volatility Advisers | Parallax Master Fund |
| PCJ Investment Counsel | PCJ Absolute Return Strategy |
| Pictet Asset Management | Atlas |
| Pictet Mahoney | Market Neutral Equity Fund |
| PIMCO | PIMCO RAE Fundamental Advantage PLUS |
| RAM | Long Short European |
| RAM | Long Short Global |
| Robeco | Quantum Market Neutral |
| Scopia Capital Management | Market Neutral |
| Trium Capital | Climate Impact |
| Union Investment Institutional | Uniinstitutional Equities Market Neutral |
| Vanguard | Vanguard Market Neutral |
| Victory | Victory Market Neutral Income |
| Westwood | Westwood Market Neutral Income Instl |
| Zest | North America Pairs Trading |
| Manager | Program |
|---|---|
| ABCA Asset Management | ABCA Opportunities |
| ActusRay Partners | European Alpha Market Neutral |
| Ansa Capital Management | Ansa – Global Q Equity Market Neutral |
| Aphilion | Aphilion SIF |
| AQR Capital Management | Adaptive Equity Market Neutral |
| AQR Capital Management | Equity Market Neutral |
| BDL Capital | Durandal |
| Blackrock | Asia-Pacific Diversified |
| Blackrock | European Absolute Return |
| BNP Theam | Quant Dispersion US |
| BPI | Alternative Iberian Equities |
| Campbell & Company | Campbell Quantitative Equities Portfolio |
| Candriam Investors Group | Absolute Return Equity Market Neutral |
| Candriam Investors Group | Equities ESG Market Neutral |
| Candriam Investors Group | Index Arbitrage |
| Cognios | Cognios Market Neutral Large Cap |
| Crossmark Steward | Equity MN Instl |
| Dalton Strategic Partnership | Velox |
| Desjardins Global Asset Management | Alt Long Short Global Equity Market ETF |
| DNCA Invest | Miuri |
| Exane | Ceres |
| Exane | Overdrive |
| Exane | Pleiade |
| Federated Hermes | MDT Market Neutral |
| First Private | Artellium Evolution |
| Fortem Capital | Absolute Return |
| Fulcrum Asset Management | Thematic Equity Market |
| Gondor Capital | Gondor Partners LP |
| Gondor Capital | Gondor Partners Ltd |
| Gotham | Gotham Neutral |
| Guggenheim | Guggenheim Market Neutral |
| Hedge Invest | UK Select |
| Invesco | Invesco All Cap Market Neutral |
| JPMorgan | Europe Equity Absolute |
| JPMorgan | JPMorgan Research Market Neutral |
| KLP Kapitalforvaltning AS | KLP Alfa Global Energi |
| LGT Capital Partners | LGT Sustainable Equity Market |
| Machina Capital | Machina Neutron |
| Maltese Capital Management | Malta Market Neutral |
| Man GLG | GLG Alpha Select |
| Man GLG | GLG Innovation Equity |
| Man GLG | GLG UK Absolute Value |
| MarshallWace | ESG Market Neutral |
| MarshallWace | MW Eureka Fund A1 |
| MarshallWace | MW Global Opportunities A |
| MarshallWace | MW Market Neutral TOPS Fund A EUR |
| MarshallWace | MW Tops |
| MarshallWace | MW Tops Market Neutral |
| Merian | Global Equity Absolute |
| Meriti Capital | Meriti Neutral |
| MQS Management | Equity Market Neutral Strategy |
| Nanjia Capital Limited | Cyrus |
| Neo Ivy Capital Management | Neo Ivy |
| Parallax Volatility Advisers | Parallax Master Fund |
| PCJ Investment Counsel | PCJ Absolute Return Strategy |
| Pictet Asset Management | Agora |
| Pictet Asset Management | Atlas |
| Pictet Mahoney | Market Neutral Equity Fund |
| PIMCO | PIMCO RAE Fundamental Advantage PLUS |
| RAM | Long Short European |
| RAM | Long Short Global |
| Sandbar | Global Equity Market Neutral (Lumyna) |
| Scopia Capital Management | Market Neutral |
| Seven Capital Management | Fortress Fund |
| Seven Seas | Alpha Japan Neutral (Permal) |
| Trium Capital | Climate Impact |
| Vanguard | Vanguard Market Neutral |
| Victory | Victory Market Neutral Income |
| Westwood | Westwood Market Neutral Income Instl |
| Zest | North America Pairs Trading |
| Manager | Program |
|---|---|
| ABCA Asset Management | ABCA Opportunities |
| ActusRay Partners | European Alpha Market Neutral |
| Aegon | Global Equity Market Neutral |
| Aenaon Markets | Syncro Equities – Absolute Return |
| Aenaon Markets | Syncro Equities – Vanilla |
| Amber Capital | Equity Fund (UCITS) |
| Aphilion | Aphilion SIF |
| AQR Capital Management | Equity Market Neutral |
| BDL Capital | Durandal |
| Blackrock | Asia-Pacific Diversified |
| Blackrock | European Absolute Return |
| BNP Theam | Quant Dispersion US |
| BNY Mellon Asset Management | Absolute Return |
| BPI | Alternative Iberian Equities |
| Campbell & Company | Campbell Quantitative Equities Portfolio |
| Candriam Investors Group | Absolute Return Equity Market Neutral |
| Candriam Investors Group | Index Arbitrage |
| Cognios | Cognios Market Neutral Large Cap |
| Crossmark Steward | Equity MN Instl |
| Dalton Strategic Partnership | Velox |
| Desjardins Global Asset Management | Alt Long Short Global Equity Market ETF |
| DNCA Invest | Miuri |
| ECO Advisors | ESG Absolute Return |
| Exane | Ceres |
| Exane | Overdrive |
| Exane | Pleiade |
| Federated Hermes | MDT Market Neutral |
| First Private | Artellium Evolution |
| Fulcrum Asset Management | Thematic Equity Market |
| Gondor Capital | Gondor Partners LP |
| Gondor Capital | Gondor Partners Ltd |
| Gotham | Gotham Neutral |
| Guggenheim | Guggenheim Market Neutral |
| Insight | Absolute Return Equity |
| Invesco | Invesco All Cap Market Neutral |
| JPMorgan | Europe Equity Absolute |
| JPMorgan | JPMorgan Research Market Neutral |
| KLP Kapitalforvaltning AS | KLP Alfa Global Energi |
| LGT Capital Partners | LGT Sustainable Equity Market |
| Man GLG | GLG Alpha Select |
| Man GLG | GLG Innovation Equity |
| Man GLG | GLG UK Absolute Value |
| MarshallWace | ESG Market Neutral |
| MarshallWace | MW Tops |
| MarshallWace | MW Tops Market Neutral |
| MarshallWace | Systematic Alpha Market Neutral |
| Merian | Global Equity Absolute |
| Meriti Capital | Meriti Neutral |
| Nordea Asset Management | Nordea 1 Global Equity |
| Osmosis | More World Sustainable |
| Perdurance | Market Neutral (Rotschild) |
| Pictet Asset Management | Agora |
| Pictet Asset Management | Atlas |
| PIMCO | PIMCO RAE Fundamental Advantage PLUS |
| Pula Capital Managament | Pula Capital Fund |
| RAM | Long Short Emerging |
| RAM | Long Short European |
| RAM | Long Short Global |
| Sandbar | Global Equity Market Neutral (Lumyna) |
| Sector Asset Management | Munin Quant |
| Seven Capital Management | Fortress Fund |
| Seven Seas | Alpha Japan Neutral (Permal) |
| Tellworth | European Market Neutral |
| Trium Capital | Climate Impact |
| UBP | Europe Market Neutral |
| Vanguard | Vanguard Market Neutral |
| Victory | Victory Market Neutral Income |
| Wellington | Climate Market Neutral |
| Westwood | Westwood Market Neutral Income Instl |
| Zest | North America Pairs Trading |
| Manager | Program |
|---|---|
| Aegon | Global Equity Market Neutral |
| Aenaon Markets | Syncro Equities – Absolute Return |
| Aenaon Markets | Syncro Equities – Vanilla |
| Aphilion | Aphilion SIF |
| AQR Capital Management | Equity Market Neutral |
| Blackrock | Asia-Pacific Diversified |
| Blackrock | European Absolute Return |
| Blackrock | Tactical Opportunities |
| BMO | Real Estate Equity |
| BNP Theam | Quant Dispersion US |
| BNY Mellon Asset Management | Absolute Return |
| BPI | Alternative Iberian Equities |
| Candriam Investors Group | Absolute Return Equity Market Neutral |
| Candriam Investors Group | Index Arbitrage |
| Cognios | Cognios Market Neutral Large Cap |
| Crossmark Steward | Equity MN Instl |
| Dalton Strategic Partnership | Velox |
| DNCA Invest | Miuri |
| ECO Advisors | ESG Absolute Return |
| Exane | Ceres |
| Exane | Overdrive |
| Exane | Pleiade |
| First Private | Artellium Evolution |
| Fulcrum Asset Management | Thematic Equity Market |
| Gondor Capital | Gondor Partners LP |
| Gondor Capital | Gondor Partners Ltd |
| Gotham | Gotham Neutral |
| Guggenheim | Guggenheim Market Neutral |
| Insight | Absolute Return Equity |
| Invesco | Invesco All Cap Market Neutral |
| JanusHenderson | Global Equity Market Neutral |
| JPMorgan | Europe Equity Absolute |
| JPMorgan | JPMorgan Research Market Neutral |
| KLP Kapitalforvaltning AS | KLP Alfa Global Energi |
| LGT Capital Partners | LGT Sustainable Equity Market |
| Man GLG | GLG Alpha Select |
| Man GLG | GLG Innovation Equity |
| Man GLG | GLG UK Absolute Value |
| MarshallWace | ESG Market Neutral |
| MarshallWace | MW Tops |
| MarshallWace | MW Tops Market Neutral |
| MarshallWace | Systematic Alpha Market Neutral |
| Maverick | QM Neutral (GS) |
| Memnon | Market Neutral |
| Merian | Global Equity Absolute |
| Nordea Asset Management | Nordea 1 Global Equity |
| Osmosis | More World Sustainable |
| Oyster | Equity Premia Global |
| Perdurance | Market Neutral (Rotschild) |
| Pictet | Atlas |
| Pictet Asset Management | Agora |
| Pictet Asset Management | Market Neutral |
| PIMCO | PIMCO RAE Fundamental Advantage PLUS |
| QQM Fund Management | QQM Equity Hedge |
| QS | QS Global Market Neutral |
| RAM | Diversified Alpha |
| RAM | Long Short Emerging |
| RAM | Long Short European |
| RAM | Long Short Global |
| Sandbar | Global Equity Market Neutral (Lumyna) |
| Seven | Fortress Fund |
| Seven Seas | Alpha Japan Neutral (Permal) |
| Tellworth | European Market Neutral |
| UBP | Europe Market Neutral |
| Vanguard | Vanguard Market Neutral |
| Victory | Victory Market Neutral Income |
| Wellington | Climate Market Neutral |
| Westwood | Westwood Market Neutral Income Instl |
| Zest | North America Pairs Trading |
| Manager | Program |
|---|---|
| Adaptive Hedge Fund Management | Paradigm Alpha |
| Aegon | Global Equity Narket Neutral |
| AllianceBernstein | Arya European Market Neutral |
| American Century | Market Neutral Val |
| Aphilion | Aphilion SIF |
| AQR Capital Management | Equity Market Neutral |
| Blackrock | Asia-Pacific Diversified |
| Blackrock | European Absolute Return |
| Blackrock | Tactical Opportunities |
| BMO | Real Estate Equity |
| BNP Theam | Quant Dispersion US |
| BNY Mellon Asset Management | Absolute Return |
| BPI | Alternative Iberian Equities |
| Candriam Investors Group | Absolute Return Equity Market Neutral |
| Candriam Investors Group | Index Arbitrage |
| Cognios | Cognios Market Neutral Large Cap |
| Dalton Strategic Partnership | Velox |
| DNCA Invest | Miuri |
| ECO Advisors | ESG Absolute Return |
| Eraam | Long Short Equity |
| Exane | Ceres |
| Exane | Overdrive |
| Exane | Pleiade |
| Fulcrum Asset Management | Thematic Equity Market |
| Gondor Capital | Gondor Partners LP |
| Gondor Capital | Gondor Partners Ltd |
| Gotham | Gotham Neutral |
| Gotham | Gotham Neutral 500 |
| Guggenheim | Guggenheim Market Neutral |
| Insight | Absolute Return Equity |
| Invesco | Invesco All Cap Market Neutral |
| JanusHenderson | Global Equity Market Neutral |
| John Locke Investments | Equity Market Neutral |
| JPMorgan | Europe Equity Absolute |
| JPMorgan | JPMorgan Research Market Neutral |
| KLP Kapitalforvaltning AS | KLP Alfa Global Energi |
| LGT Capital Partners | LGT Sustainable Equity Market |
| Man GLG | GLG Alpha Select |
| Man GLG | GLG Innovation Equity |
| Man GLG | GLG UK Absolute Value |
| MarshallWace | MW Liquid |
| MarshallWace | MW Tops |
| MarshallWace | MW Tops Market Neutral |
| Maverick | QM Neutral (GS) |
| Memnon | Market Neutral |
| Merian | Global Equity Absolute |
| Nordea Asset Management | Nordea 1 Global Equity |
| Nuveen | Nuveen Equity Market Neutral |
| Osmosis | More World Sustainable |
| Oyster | Equity Premia Global |
| Perdurance | Market Neutral (Rotschild) |
| Pictet | Atlas |
| Pictet Asset Management | Agora |
| Pictet Asset Management | Market Neutral |
| PIMCO | PIMCO RAE Fundamental Advantage PLUS |
| QQM Fund Management | QQM Equity Hedge |
| QS | QS Global Market Neutral |
| RAM | Long Short Emerging |
| RAM | Long Short European |
| RAM | Long Short Global |
| RG Tactical Market Neutral Institutional | RG Tactical Market Neutral Institutional |
| Sandbar | Global Equity Market Neutral (Lumyna) |
| Seven | Fortress Fund |
| Seven Seas | Alpha Japan Neutral (Permal) |
| Tellworth | European Market Neutral |
| UBP | Europe Market Neutral |
| Vanguard | Vanguard Market Neutral |
| Victory | Victory Market Neutral Income |
| Westwood | Westwood Market Neutral Income Instl |
| Zest | North America Pairs Trading |
| Manager | Program |
|---|---|
| Adaptive Hedge Fund Management | Paradigm Alpha |
| Aegon | Global Equity Narket Neutral |
| Aegon | UK Equity Absolute Return |
| AllianceBernstein | Arya European Market Neutral |
| Allianz Global Investors | Japan Equity Long Short |
| American Century | Market Neutral Val |
| AQR Capital Management | Equity Market Neutral |
| Blackrock | Asia-Pacific Diversified |
| Blackrock | European Absolute Return |
| BMO | Real Estate Equity |
| BNP Theam | Quant Dispersion US |
| BNY Mellon Asset Management | Absolute Return |
| BPI | Alternative Iberian Equities |
| Candriam Investors Group | Absolute Return Equity Market Neutral |
| Candriam Investors Group | Index Arbitrage |
| Cognios | Cognios Market Neutral Large Cap |
| Dalton Strategic Partnership | Velox |
| DNCA Invest | Miuri |
| ECO Advisors | ESG Absolute Return |
| Eraam | Long Short Equity |
| Exane | Ceres |
| Exane | Overdrive |
| Exane | Pleiade |
| Fort LP | Global Equity |
| FS Investments | Market Neutral |
| Fulcrum | Thematic Equity Market |
| GAM International Management | Multistock Absolute Return |
| GAM International Management | Star Lux European |
| Gotham | Gotham Master Neutral |
| Gotham | Gotham Neutral |
| Gotham | Gotham Neutral 500 |
| Guggenheim | Guggenheim Market Neutral |
| H2O | Fidelio |
| Insight | Absolute Return Equity |
| Invesco | Global Absolute Return |
| Invesco | Global Equity Market |
| Invesco | Invesco All Cap Market Neutral |
| John Locke Investments | Equity Market Neutral |
| JPMorgan | JPMorgan Research Market Neutral |
| KLP Kapitalforvaltning AS | KLP Alfa Global Energi |
| LGT Capital Partners | LGT Sustainable Equity Market |
| Man GLG | GLG Alpha Select |
| Man GLG | GLG Innovation Equity |
| Man GLG | GLG UK Absolute Value |
| MarshallWace | MW Liquid |
| MarshallWace | MW Tops |
| MarshallWace | MW Tops Market Neutral |
| Maverick | QM Neutral (GS) |
| Memnon | Market Neutral |
| Merian | Global Equity Absolute |
| Norron | Norron Alpha |
| Nuveen | Nuveen Equity Market Neutral |
| Osmosis | More World Sustainable |
| Oyster | Equity Premia Global |
| Perdurance | Market Neutral (Rotschild) |
| Pictet | Akari |
| Pictet | Atlas |
| Pictet Asset Management | Agora |
| PIMCO | PIMCO RAE Fundamental Advantage PLUS |
| Plato | Global Market Neutral |
| Putnam PanAgora | Putnam PanAgora Market Neutral |
| QQM Fund Management | QQM Equity Hedge |
| QS | QS Global Market Neutral |
| Quantology | Absolute Return |
| RAM | Long Short Emerging |
| RAM | Long Short European |
| RAM | Long Short Global |
| RG Tactical Market Neutral Institutional | RG Tactical Market Neutral Institutional |
| Sandbar | Global Equity Market Neutral (Lumyna) |
| Schroders | Global Equity Market Neutral |
| Seven | Fortress Fund |
| Seven Seas | Alpha Japan Neutral (Permal) |
| Tellworth | European Market Neutral |
| Trium | European Equity Market |
| Vanguard | Vanguard Market Neutral |
| Victory | Victory Market Neutral Income |
| Westwood | Westwood Market Neutral Income Instl |
| Zest | North America Pairs Trading |
| Manager | Program |
|---|---|
| American Century | Core Market Neutral |
| American Century | Equity Market Netr |
| American Century | Market Neutral Val |
| Aphilion | Aphilion SIF |
| AQR Capital Management | Equity Market Neutral |
| Candriam Investors Group | Absolute Return Equity Market Neutral |
| Cognios | Cognios Market Neutral Large Cap |
| Convergence | Convergence Market Neutral |
| FS Investments | Market Neutral |
| GMO | GMO Alpha Only |
| Gotham | Gotham Master Neutral |
| Gotham | Gotham Neutral |
| Gotham | Gotham Neutral 500 |
| Guggenheim | Guggenheim Market Neutral |
| Invesco | Invesco All Cap Market Neutral |
| Invesco | Invesco Global Market Neutral |
| JPMorgan | JPMorgan Research Market Neutral |
| KLP Kapitalforvaltning AS | KLP Alfa Global Energi |
| Norron | Norron Alpha |
| Nuveen | Nuveen Equity Market Neutral |
| Peak Asset Management | Peak Equity Alpha |
| PIMCO | PIMCO RAE Fundamental Advantage PLUS |
| Putnam PanAgora | Putnam PanAgora Market Neutral |
| QQM Fund Management | QQM Equity Hedge |
| QS | QS Global Market Neutral |
| RG Tactical Market Neutral Institutional | RG Tactical Market Neutral Institutional |
| Vanguard | Vanguard Market Neutral |
| Victory | Victory Market Neutral Income |
| Westwood | Westwood Market Neutral Income Instl |
| Zacks | Zacks Market Neutral |
| Manager | Program |
|---|---|
| Amplitude Capital International | Vivace Strategy |
| Handelsbanken Fonder | Handelsbanken Global Selektiv Hedge |
| Handelsbanken Fonder | Handelsbanken Hsllbarhet Hedge Criteria |
| KLP Kapitalforvaltning AS | KLP Alfa Global Energi |
| Peak Asset Management | Peak Equity Alpha |
| QQM Fund Management | QQM Equity Hedge |
| Zmartic Fonder | Zmart Alfa |