PARTNER CONTENT
The Mandatum Managed Futures Fund was named winner of the UCITS Performance of the Year: Multi-Strategy at the Hedgeweek® European Awards 2026. Senior portfolio manager Ville Rantanen outlines what sets the fund apart and how the fund captured crisis alpha during the periods of market volatility.
Please describe your firm’s flagship investment strategy and what differentiates it in today’s market environment.
The fund employs a systematic multi-strategy approach, combining trend-following, seasonal, mean-reversion, and carry strategies across global markets. Its dynamic allocation framework adapts to changing market regimes by continuously modelling and evaluating market conditions and adjusting exposures accordingly, aiming to enhance portfolio resilience and deliver consistent performance across different market regimes.
In what specific ways did your investment strategy deliver value to clients amid the market volatility and economic challenges of 2025-26?
During the past year marked by elevated volatility and political uncertainty, the fund’s ability to respond effectively to shifting market conditions has been a key differentiator. Its systematic and dynamic investment approach enables exposures to be adjusted as market regimes evolve. The multi-strategy framework delivers low correlation to traditional equity and bond markets, as well as to many hedge fund strategies. The strategy has also demonstrated strong crisis alpha, providing diversification benefits when traditional asset classes are under pressure.
Regarding your flagship fund’s performance over the past year, which investment decision, market positioning, or strategic innovation are you particularly proud of?
One aspect of the past year that we are particularly pleased with is the strategy’s ability to generate positive returns during the tariff-driven market volatility. While many hedge fund strategies experienced drawdowns during this period, our strategy adapted quickly and was able to capture crisis alpha.
This was largely driven by our market regime models, which continuously assess evolving market conditions and enable the portfolio to adapt its positioning as market dynamics change. In practice, this meant reducing risk exposure ahead of periods of heightened market stress while increasing allocations to models designed to perform in such environments. More broadly, this reflects our active approach to risk management. Rather than maintaining a static level of risk, the strategy dynamically calibrates risk exposure to the prevailing market environment.
What do you consider the most notable evolution in the European hedge fund landscape since early 2025?
The most notable evolution in the European hedge fund landscape since early 2025 has been the renewed focus on genuine portfolio diversification. Following a period in which both equities and bonds faced heightened volatility, investors increasingly sought strategies capable of delivering uncorrelated returns across different market environments. This has reinforced the appeal of multi-strategy/managed futures strategies, which can take both long and short positions across asset classes and have historically provided diversification benefits during periods of market stress. Recent industry trends also suggest that investors are placing greater value on strategies that can generate returns independently of traditional market beta.
How do you expect institutional and private wealth investor sentiment toward hedge fund allocations to evolve across European markets in the coming year?
In the coming year, we believe investors will continue to increase allocations to hedge funds due to their low correlation with traditional asset classes and their ability to generate absolute returns. In a today’s market environment, hedge funds can offer diversification, long-term return potential, and greater portfolio resilience across varying market conditions. The adaptability of hedge fund strategies can also serve as a valuable protective mechanism during periods of market stress, helping to stabilise portfolios and enhance overall risk-adjusted returns.
Ville Rantanen, Senior Portfolio Manager, Mandatum – Mandatum is a major Nordic financial services provider. Ville focuses on the firm’s Managed Futures strategy and contributes to research, portfolio construction, and risk management within the fund. Prior to his current role, Ville has held positions within Mandatum across trading, risk management, and investment analysis, providing broad experience across the investment process from execution to portfolio oversight.
Marketing Material
This marketing material concerns the Luxembourg fund Mandatum SICAV-UCITS and its sub-fund “Mandatum Managed Futures Fund” (the “Fund”). The material has been compiled by Mandatum Asset Management Oy, which acts as the Fund’s portfolio manager. The Fund is managed by Mandatum Fund Management S.A. (address: 53 Boulevard Royal, Luxembourg L-2449, Luxembourg).
Past performance is not a guarantee of future returns. Future returns may also be negative. Please review the Fund’s prospectus and key investor information document before making any investment decision. The Fund’s risks are described in the prospectus and key investor information document, which can be found at: mandatumam.com.
