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Investors Choice: Accendo and OAM

Report: Systematic Strategies

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Stockholm (HedgeNordic) – Two members of the Nordic hedge fund industry, Accendo Capital and OAM Absolute Return Fund, have been awarded “Investors Choice” awards at the 2022 Investors Choice Awards for the EMEA (Europe, the Middle East, and Africa) region organized by data platform Allocator.

The shortlisted funds for the Investors Choice Awards – recognized as “Top Performer” winners – are determined based on absolute returns over the 12 months ending December 2021. The “Long Term” award categories consider returns over the period from January 2019 to the end of December 2021. The winners of the “Investors Choice” awards across a range of strategy categories are determined by a jury board of institutional investors considering a range of qualitative criteria, including investment processes, risk framework, transparency, team and ability to generate alpha. The judges review manager profiles on the Allocator.com portal and independently assign a score from 1 to 10 in each of the qualitative assessment areas for funds.

Activist fund Accendo Capital has received the “Investor Choice” award in the category “Event Driven Fund – Under $500m.” Accendo booked a full-year gain of 58.4 percent for 2021 to bring its annualized return over the previous three years to 57.5 percent. Accendo generally acquires ownership stakes between five and 25 percent in a select group of listed companies in the Nordics often with a technological edge, with its investment team relying on their entrepreneurial mindset and cooperation efforts to initiate and run their collaborative campaigns of value creation. The fund, which oversees €223 million in assets under management as of the end of February, has delivered an annualized return of 15.8 percent since launching in early 2008 through the end of February this year.

Oslo-based energy-focused long/short equity fund OAM Absolute Return has won the category “Global Equity Fund – Under $100m – Long Term Performance” at the 2022 Investors Choice Awards. The fund managed by Harald James Otterhaug ended 2021 up 45.1 percent after booking a full-year advance of 50.9 percent in 2020. OAM Absolute Return has recovered from a large drawdown in 2019 driven by a set of inefficiencies that remained inefficient far too long. The strong performance in the past two years has brought the fund’s annualized return since launching in late 2005 to 11.3 percent. The fund is up 3.3 percent in the first two months of 2022.

Both Accendo Capital and OAM Absolute Return have also been nominated in the “Best Nordic Hedge Fund Overall” and “Best Nordic Equity Hedge Fund” categories at this year’s edition of the Nordic Hedge Award. The nominees were selected using a model that translates several of each fund’s performance-related metrics into a quant score. These metrics include last year’s absolute performance, relative performance in 2021 (respective to relevant NHX sub-categories), Sharpe ratio over the past 36 months, absolute performance over the past 36 months, and skewness over the same period as a measure of downside risk. The winners of the 2021 Nordic Hedge Award will be announced on April 27, 2022 in Stockholm.

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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 eugene@hedgenordic.com

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