Stockholm (HedgeNordic) – Rookie of the year is one of HedgeAwards two special categories, recognizing a newcomer on the Nordic hedge fund scene. The category was introduced ahead of the 2015 event, with the first winner being the long short equity fund Elementa from Elementa Management.
This year, the award went to the team behind the direct lending fund, Scandinavian Credit Fund 1, which is managed by Skandinaviska Kreditfonden. The fund engages in the private debt market providing capital to companies with short and medium term financing needs. Read HedgeNordics introductory interview with the manager here.
The fund has so far been offered to a retail audience with a listing on the NGM-NDX market providing for secondary market dealing but institutions are beginning to express interest according to CEO and Portfolio Manager Fredrik Sjöstrand (pictured), who HedgeNordic caught up with during the event.
”The fund has delivered in line with our expectations during the first year. The strong interest for the fund has already brought assets under managegement to 400 MSEK and we are now beginning to see interest from institutions as well.”
”As the fund now has grown bigger, I see even more opportunities as we can approach lending objects that require larger sizes. This will work in favour of the fund going forward”.
As for winning the award, Sjöstrand is flattered that the fund has been recognized already as it is still early days.
”We have only just started but this is a first recognition that we are on the right track, we hope to revisit the winners podium for many years to come”.
The Rookie of the Year is determined by a jury board made of of other Nordic hedge fund managers. To learn more about the jury members and procedure, please click here.