More Nordic Nominations for EuroHedge Awards

Stockholm (HedgeNordic) – HFM Global has revealed an updated list of nominations for the EuroHedge Absolute UCITS Awards 2018, which includes additional  Nordic names to the initial list released in August. Nordic Cross Stable Return and Norron Select joined the original list of Nordic hedge funds nominated for this year’s Absolute UCITS Awards, which included Norron Alpha, Norron Target, Nordea Alpha 15 Fund, and Storm Bond Fund.

Nordic Cross Stable Return, an alternative multi-strategy fund primarily investing in equity and fixed-income instruments in Nordic markets, was nominated in the category “New Fund of the Year” alongside four other non-Nordic funds. The retail share class of Nordic Cross Stable Return gained 5.2 percent since its launch in August 2017, whereas the institutional share class included in the Nordic Hedge Index (NHX) returned 5.4 percent over the same period.

Although Norron AB’s market-neutral equity fund Norron Alpha and its absolute return fund Norron Target made the list of nominees during the first nomination round, the asset manager’s third hedge fund, Norron Select, was only nominated earlier this week in two categories. Long/short equity fund Norron Select, which generated a compounded annual return of 8.4 percent since its inception in February 2011, was shortlisted in the “European Equity – Under $500m” category for both the one-year and three-year award categories. The nominations of Norron’s full suite of hedge funds for the EuroHedge Absolute UCITS Awards earned the Stockholm-based asset manager a nomination in the “Management Firm of the Year” category.

For the one-year and three-year performance award categories, only hedge funds with at least $100 million in assets under management qualified for nominations, with nominees chosen based on Sharpe ratios. The winners, however, will be selected based on absolute returns as long as winning funds are also among the funds with the highest Sharpe ratios within their respective groups. For the new fund and management firm of the year awards, the winners will be judged on additional comparative criteria apart from absolute returns and Sharpe ratios.

A summary of the Nordic hedge funds shortlisted for the EuroHedge Absolute UCITS Awards 2018 can be found below:

 

Picture © Jirsak—shutterstock

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Eugeniu Guzun

Eugeniu Guzun serves as a data analyst responsible for maintaining and gatekeeping the Nordic Hedge Index (NHX), as well as being a novice columnist covering the Nordic hedge fund industry for HedgeNordic. Prior to joining HedgeNordic, Eugeniu had served as a columnist for a U.S. journal covering insider trading activity, activist campaigns and hedge fund moves. Eugeniu completed his Master’s degree at the Stockholm School of Economics in 2018.

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