Stockholm (HedgeNordic) – With Intelligence has released the second round of nominations for the EuroHedge Awards 2022. Eight additional Nordic hedge funds joined the list of nominations to bring the total number of Nordic nominees to 15.
The final shortlist for the EuroHedge Awards 2022 will be confirmed in January with the release of the final round of nominations. The winners, determined based on a combination of Sharpe ratios and absolute returns, will be presented at an awards ceremony in London on February 9.
The Emerging and Smaller
Elementa, Oceanic Hedge Fund, and Proxy Renewable Long/Short Energy were all shortlisted in the “Emerging Manager & Smaller Fund – Equity Strategies” at the 2022 EuroHedge Awards. All three long/short equity funds are among this year’s top ten best performers within the Nordic Hedge Index. Oceanic Hedge Fund, a long/short energy transition and shipping fund established in 2002, advanced 33.5 percent in the first eleven months of 2022, while Proxy P’s energy transition-focused fund gained 32.5 percent over this period. Elementa, a stock-picking equity fund managed by Marcus Wahlberg and Eric Andersson, gained close to 21 percent in the first eleven months of 2022.
Svelland and Alcur
Svelland Global Trading Fund, so far the best-performing Nordic Hedge Fund in 2022, was nominated in the “Emerging Manager & Smaller Fund – Macro, Fixed Income & Relative Value” category. The long/short equities- and commodities-focused fund gained over 45 percent in 2022. Alcur Fonder’s low-net long/short equity fund Alcur was shortlisted in the “Specialist Equity” category at the EuroHedge Awards 2022. Up 7.6 percent so far in 2022, Alcur has delivered an annualized return of 10.8 percent in the past 36 months to reach a Sharpe ratio of 2.6.
The Nordic-Dominated Category
Nordea European Rates Opportunity Fund, a relative-value hedge fund run by Nordea Asset Management’s Copenhagen-based Fixed Income and Covered Bonds team, joined Norwegian hedge funds Borea Hoyrente and KLP Alfa Global Rente in the list of nominees for the “Fixed Income” category. Nordea European Rates Opportunity Fund advanced 4.7 percent in the first 11 months of 2022 to bring its annualized return since launching in mid-2019 to 6.6 percent. The “Fixed Income” category at the 2022 EuroHedge Awards is fully dominated by Nordic names.
New Fund of the Year
Protean Select is in contention for the “New Fund of the Year – Equity Strategies” award, while Borea Kreditt was shortlisted in the “New Fund of the Year – Macro, Fixed Income & Relative Value” award category. Launched on May 2 this year, Protean Select is a returns-focused hedge fund employing a long-biased long/short approach to invest in Nordic equities. Run by Pontus Dackmo and Carl Gustafsson, Protean Select has delivered a cumulative return of 7.5 percent since early May through the end of November. Borea Asset Management’s Borea Kreditt has returned 8.6 percent since launching in October 2021 after an advance of 6.0 percent year-to-date.