Stockholm (HedgeNordic) – Adrigo Small & Midcap L/S has been crowned the “Best New European Hedge Fund” at the inaugural Eurekahedge Global Hedge Fund Awards. This award is handed out to the best European hedge fund launched during the 12 months ending September 2018.

Managed by portfolio manager Staffan Östlin (pictured), Adrigo Small & Midcap L/S is a stock-picking hedge fund searching for long and short opportunities among small- and mid-cap Nordic companies. The long/short equity vehicle was launched by Stockholm-based asset manager Adrigo Asset Management in November 2017 and earned a cumulative return of 31.6 percent net of fees since inception. With a year-to-date gain of 14.1 percent, Adrigo Small & Midcap L/S currently ranks among this year’s top ten best-performing hedge funds in the Nordic Hedge Index.

Commenting on the fund’s inception-to-date performance, Östlin tells HedgeNordic that “we’re happy to see that our long side has outperformed the market by a wide margin,” adding that “we are very pleased by the fact that, since inception, the short book has contributed to our performance as well.” The portfolio management team initiates short positions not only to reduce volatility and risk but also contribute to the fund’s return. “So far, this shows that our stock-picking strategy has worked well on both sides and we have as of today not used any index-futures in the fund,” adds Östlin.

Two other hedge fund debuts in the Nordics competed for the “Best New European Hedge Fund” award at the Eurekahedge Global Hedge Fund Awards. SEB Eureka Fixed Income Relative Value, the 2018 Nordic Rookie of the Year award winner, and Nordic Cross Small Cap Edge have also been shortlisted in this award category alongside five other non-Nordic funds. The nominees for this award category returned 30.7 percent from December 2017 through the end of March this year, beating the 5.0 percent gain for the Eurekahedge New European Hedge Fund Composite.

Congratulations Staffan Östlin and the Adrigo team!