Industry Recognition for Nordic HFs


Stockholm (HedgeNordic) – Five Nordic hedge fund managers were distinguished at last week’s Hedgeweek European Awards, compiled in conjunction with Bloomberg. The awards are based on a peer review system and decided by a poll of Hedgeweek’s readers, including institutional and high-net-worth-investors, hedge fund managers, and other industry professionals.

For the manager categories, the shortlists at the Hedgeweek European Awards 2021 are based on data provided by Bloomberg, with the candidates being selected based on annualized performance over the 12-month period ending September 2020. More than 40 different single-manager and multi-manager European hedge funds have been shortlisted across 18 manager award categories. A total of 21,715 industry experts participated in the final voting that took place following the initial nomination procedure. Nordic hedge funds won five of these 18 manager award categories.

Healthcare-focused Rhenman Healthcare Equity L/S has been named “Best Global Equity Hedge Fund” at the Hedgeweek European Awards 2021. The fund’s main share class reflected in the Nordic Hedge Index has delivered an annualized return of 19.3 percent since launching in June of 2009. “We are extremely pleased with this award which, of course, reflects the strong performance of the fund, but, which in addition, is recognition from our international clients and colleagues in the European fund industry for the way in which we manage the fund,” Carl Grevelius, Founding Partner and Head of Investor Relations, comments on the recognition.

Adrigo Small & Midcap L/S, a small- and mid-cap-focused stock-picking hedge fund managed by Staffan Östlin and Johan Eriksson, has been voted as “Best Emerging Manager Fund – Equity Strategies.” Adrigo Small & Midcap L/S gained 43.6 percent during 2020, marking its third consecutive full-year of positive returns. The fundamentals-focused long/short equity fund advanced an additional 14.5 percent in the first two months of 2021 to take its annualized return since launching in November 2017 to a little over 26 percent.

Concentrated activist investor Accendo Capital has been named “Best Event-Driven Hedge Fund” at this year’s Hedgeweek European Awards. The active investor maintaining a concentrated portfolio of listed companies in Northern Europe, often with a technological edge, returned 69.3 percent last year and gained an additional 13.7 percent in the first two months of this year. The fund managed by a core team of four, which includes Henri Österlund, Mark H. Shay, Kai Tavakka and Elise Auer, has delivered an annualized return of 16.3 percent since launching in early 2008.

Stockholm-based long/short equity fund Elementa, which enjoyed only positive monthly returns in the first eight months of 2020, has been voted “Best European Equity Hedge Fund” at this year’s edition of Hedgeweek European Awards. The fund co-managed by Marcus Wahlberg and Eric Andersson returned 20.8 percent in 2020, its sixth consecutive year of positive returns. Elementa has generated an annualized return of 10.8 percent during its almost six-year journey that started in March 2015.

CARN Capital’s long/short fundamental equity fund, CARN Latitude, has been named “Best Liquid Alternative Fund – Equity Hedge.” The fund managed by a five-member investment team out of Oslo returned 39.7 percent last year to take its annualized return since launching in late 2015 to 15.8 percent. “We are grateful for the recognition of our team’s hard work and remain as upbeat as ever on our portfolio positions and the fund’s ability to generate attractive returns to our investors in 2021 and beyond,” comments the CARN team on the recognition from Hedgeweek.


Congratulations to the winners!

Photo by K8 on Unsplash


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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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