Stockholm (HedgeNordic) – About a dozen Nordic hedge funds have been shortlisted for the HFM European Performance Awards 2022, which recognize and reward the highest achieving hedge funds, CTAs and funds of hedge funds in Europe. Two of Lynx Asset Management’s vehicles, Proxy P Renewable Long/Short Energy, OAM Absolute Return Fund, Rhenman Healthcare Equity L/S, and Othania Etisk Formuevækst have been shortlisted across multiple categories.
The winners of the 2022 HFM European Performance Awards will be announced on September 29 in London, with the winners determined by a judging panel made up of institutional and private investors, as well as investment consultants. Judges focus on absolute performance, as well as the standard deviation of returns and outperformance of a relevant benchmark index. They also take into consideration the relative assets under management, three and five-year track records, nature of investment strategies, other supporting materials and professional knowledge about shortlisted funds.
Lynx Asset Management
Lynx Asset Management’s Lynx 1.5 Fund was shortlisted in the “Managed Futures (CTA) Over $1bn” and “Managed Futures (CTA) Long-Term Performance (5 Years)” categories. Funds entering the long-term performance categories must have a five-year track record through June 2022. The Swedish quantitative asset manager’s UCITS fund – Lynx UCITS, which also relies on the Lynx Programme, was nominated in the “Ucits – Managed futures” category. Lynx Asset Management’s Swedish-domiciled fund, Lynx, is one of the best-performing Nordic hedge funds this year with a yearly advance of about 30 percent through the end of July.
Accendo and Elementa
Activist investor Accendo Capital and long/short equity fund Elementa were both shortlisted in the “European Equity Long-Term Performance (5 Years)” category. The active shareholder in listed small-cap companies in northern Europe that drive or benefit from technological innovation won two categories at the 2021 HFM European Performance Awards. Elementa, a long/short equity fund run by founder Marcus Wahlberg and co-portfolio manager Eric Andersson, is among the top five best-performing Nordic hedge funds this year with a year-to-date gain of 22.5 percent.
Two Nominations Each: Proxy P, OAM, and Rhenman Healthcare
Proxy P Renewable Long/Short Energy, OAM Absolute Return Fund and Rhenman Healthcare Equity L/S were each shortlisted in two categories. The energy transition-focused fund run by the Stockholm-based team at Proxy P Management was shortlisted in the “ESG Fund” and “Global Equity Under $500m” categories. Oslo-based energy-focused long/short equity fund OAM Absolute Return was also nominated in two different categories: “Global Equity Under $500m” and “Global Equity Long-Term Performance (5 Years).” Healthcare-focused, long-biased long/short equity fund Rhenman Healthcare Equity L/S, meanwhile, was shortlisted in the “Global Equity Long-Term Performance (5 Years)” and “Global Equity Over $500m” categories.
Sissener and Origo
Norwegian Sissener Canopus, which predominantly employs a discretionary long/short equity strategy based on bottom-up stock picking, will compete with OAM Absolute Return, Rhenman Healthcare Equity L/S and five other non-Nordic funds in the “Global Equity Long-Term Performance (5 Years)” category. Origo Fonder’s long/short equity fund, Origo Quest 1, was shortlisted in the “European Equity Under $500m” category along with seven other non-Nordic funds.
Othania Etisk Formuevækst: 3 Nominations
Othania Etisk Formuevækst, managed by Danish boutique asset manager Othania, was nominated in three different categories, including the “Ucits – Macro” and “Ucits – Multi-strategy” categories. The fund that relies on a systematic risk-on and risk-off approach to invest in equity and bond exchange-traded funds (ETFs) was also shortlisted in the “Macro – Newcomer” category.
Storm Bond and Svelland
STORM Bond Fund, a Nordic high-yield fund that is not a member of the Nordic Hedge Index, was shortlisted in the “UCITS – Credit” category at this year’s HFM European Performance Awards. The €271-million high-yield fund returned 13.6 percent in 2021 and 1.9 percent in the first seven months of 2022. Svelland Global Trading Fund, which follows a long/short equity/commodities investment strategy was nominated in the “Commodities Fund” award category. The fund founded and managed by Norwegian Tor Svelland advanced 26.4 percent in the first seven months of this year after having advanced 36 percent last year, about 32 percent in 2020 and about 28 percent in 2019.
The full list of Nordic nominees:
Managed Futures (CTA) Over $1bn:
Managed Futures (CTA) Long-Term Performance (5 Years):
European Equity Long-Term Performance (5 Years):
Global Equity Under $500m:
Global Equity Long-Term Performance (5 Years):
European Equity Under $500m:
Global Equity Over $500m:
Macro – Newcomer:
Ucits – Credit:
Storm Bond Fund
Ucits – Macro:
Ucits – Multi-strategy:
Ucits – Managed futures:
Svelland Global Trading Fund