- Advertisement -
- Advertisement -

Related

When Young Beats Old

Industry Report

- Advertisement -

Stockholm (HedgeNordic) – Adrigo Hedge, once the flagship hedge fund of Adrigo Asset Management, will be merged into the stronger-performing Adrigo Small & Midcap L/S on October 1. Staffan Östlin (pictured), who has been managing Adrigo Small & Midcap L/S since its inception in November 2017, took over the management of Adrigo Hedge following East Capital’s acquisition of Adrigo Asset Management last year.

“In order to streamline our fund offering and increase operational efficiency within portfolio management, Adrigo Hedge will be merged into Adrigo Small & Midcap L/S on 1 October 2020,” according to a press release by Adrigo, which is now the absolute return and specialized strategies platform of East Capital. Whereas Adrigo Small & Midcap L/S has generated an annualized return of 15 percent since launching in November of 2017, Adrigo Hedge has accumulated a cumulative loss of almost 14 percent over the same period.

In connection with its acquisition of Adrigo in November last year, East Capital said new resources would be added to the management of Adrigo Hedge, Adrigo’s first hedge fund launched in December 2006. Håkan Filipson, then the Chairman of Adrigo Asset Management, expected that “the new resources for Adrigo Hedge will rapidly put it back on course to delivering the strong, low-risk returns that have been a feature since the fund’s inception 13 years ago.” On the back of Adrigo Hedge’s 17 percent-loss in the turbulent first quarter of 2020 and the relatively slow recovery in the subsequent months, Adrigo Hedge is now set to be merged into Adrigo Small & Midcap L/S.

Adrigo Small & Midcap L/S, a stock-picking hedge fund looking for long and short opportunities in the Nordic small- and mid-cap segment, was launched in late 2017 to complement the lower-risk Adrigo Hedge. In spite of the underwhelming performance in recent years, Adrigo Hedge delivered an annualized return of 3.3 percent since its launch in late 2006 through the end of August this year. Adrigo Hedge, which reached over €260 million under management in mid-2017, has seen its assets under management fall below €50 million in early 2020.

Subscribe to HedgeBrev, HedgeNordic’s weekly newsletter, and never miss the latest news!

Our newsletter is sent once a week, every Friday.

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 eugene@hedgenordic.com

Latest Articles

Rising Adoption of Quantitative Investment Strategies Among Nordic Investors

From a high-level perspective, there is a clear trend of increasing adoption of quantitative investment strategies (QIS) among Nordic institutional investors, either through the...

EU Plans Stress Test for Hedge Funds and Non-Bank Firms

European regulators are planning a stress test to identify vulnerabilities beyond the traditional banking sector, focusing on less regulated entities such as hedge funds,...

ALCUR Fonder Continues Hiring Spree

Following two earlier additions this year, ALCUR Fonder continues to expand its portfolio management team at a notable pace. The Stockholm-based hedge fund boutique...

Nordic Private Markets Modernize with Data-Centric Trade Lifecycle Automation

By Anders Stengaard Jensen at Indus Valley Partner: In recent years, asset managers in Nordic countries have accelerated efforts to modernize trade operations, particularly...

Norwegian Hedge Fund Industry Sees Major Boost with New Launch

The Swedish and Danish hedge fund industries remain closely matched in size, with Denmark recently edging ahead of Sweden. While still less than half...

Atlant Funds Hold Up in May Despite Mistimed Market Call

Macroeconomic and market forecasts are notoriously difficult, even for experienced hedge fund managers. What matters more than being right, however, is ensuring that incorrect...

Allocator Interviews

In-Depth: High Yield

Voices

Request for Proposal

- Advertisement -
HedgeNordic
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.