Four Nordic Winners at EuroHedge Awards


Stockholm (HedgeNordic) – Four Nordic hedge funds received awards at this year’s edition of the EuroHedge Awards, which took place in London on January 24. Adrigo Small & Midcap L/S, a vehicle managed by Staffan Östlin and Johan Eriksson, received the “New Fund of the Year” award.

From the final nominee list of 19 Nordic hedge funds, four took home awards from Thursday’s event. Stockholm-based long/short equity fund Gladiator Fond, nominated in three award categories, received the top prize in the Special Equity category. The fund managed by Max Mitteregger returned 19.7 percent last year, earning double-digit annual returns in nine of its 14 years since inception. Gladiator Fond earned an annual compounded return of 12.6 percent since February 2005.

HP Hedge, a vehicle focused on the Danish bond market, was recognized as the best fixed-income hedge fund for its performance in 2018. Borea European Credit and SEB Eureka Fixed Income Relative Value also competed for the award. HP Hedge, managed by a four-member portfolio management team led by Henrik Fournais, gained 5.3 percent in 2018 and ended the year as the second-best performing member of the NHX Fixed Income. The fund earned a cumulative 30 percent in the past three years by investing in high-coupon Danish mortgage bonds, as well as low-coupon and noncallable mortgage bonds.

Danske Invest Hedge Fixed Income Strategies, a relative-value fund investing in fixed-income markets, shared the top prize with VR Global for long-term performance (ten years) in the category of macro, fixed-income and relative-value hedge funds. Both funds enjoyed double-digit gains in seven of the ten years since the financial crisis. Danske’s fixed-income hedge fund, managed by chief portfolio manager Michael Petry, generated an average compounded return of 17.7 percent per annum in the past ten years.

Last but certainly not least, Adrigo Asset Management’s stock-picking hedge fund focused on the Nordic small- and mid-cap segment received the “New Fund of the Year” award. Adrigo Small & Midcap L/S, run by lead portfolio manager Staffan Östlin, was among last year’s top five best-performing hedge funds in the Nordics in its first full year of operations. The fund combines long-term fundamental investing with a more opportunistic approach to investing. SEB Eureka Fixed Income Relative Value, Alcur Select, and Chelonia Market Neutral were three other Nordic contenders for the award.


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Eugeniu Guzun
Eugeniu Guzun
Eugeniu Guzun serves as a data analyst responsible for maintaining and gatekeeping the Nordic Hedge Index, and as a journalist covering the Nordic hedge fund industry for HedgeNordic. Eugeniu completed his Master’s degree at the Stockholm School of Economics in 2018. Write to Eugeniu Guzun at

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