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Swedish multi-strategy fund invests in two UK boutiques
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Swedish multi-strategy fund removes exposure to UK boutique credit fund
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Multi-strategy hedge fund Brummer dips into negative territory, as poor short alpha drives January equity losses
Submitted
03/02/2021 - 1:33pm
Stockholm-based hedge fund manager Brummer & Partners saw its flagship multi-strategy fund dip slightly into negative territory last month.
The Brummer Multi-Strategy (BMS) vehicle slipped 0.8 per cent in its SEK class, and 0.9 per cent in the USD class, in January, while the twice-levered Brummer Multi-Strategy 2xL version of the fund lost 1.7 per cent in both SEK and USD tranches.
Brummer said on Wednesday that equities and bond yields ticked upwards in early January, buoyed by the prospect of further stimulus from the new Biden administration - but appetite soon soured in the second half of the month as stimulus hopes faded, and governments wrestled with vaccine supplies and renewed Covid-19 restrictions.