Stockholm (HedgeNordic) – As is customary every year, Nordic hedge funds are coming home with trophies from this year’s awards ceremony of the With Intelligence EuroHedge Awards in London. DNB TMT Long/Short Equities, Oceanic Hedge Fund, and Nordea European Rates Opportunity Fund received recognition for strong absolute and risk-adjusted performance in their respective categories on February 9 at the JW Marriott Grosvenor House in London.
The With Intelligence EuroHedge Awards aim to recognize and celebrate the best performers in the European hedge fund industry. The nominations and winners are determined using a combination of Sharpe ratios and absolute returns to reflect two of the primary objectives of hedge funds: manage volatility and deliver positive returns for investors. Of the 15 Nordic hedge funds nominated for the 2022 EuroHedge Awards, three won their respective categories and came home with awards.
DNB TMT Long/Short Equities
DNB TMT Long/Short Equities, a long/short equity fund focusing on the telecom, media and technology (TMT) sectors, won the “UCITS – Equity Strategies” category at the 2022 EuroHedge Awards. The fund managed by DNB Asset Management’s global technology team advanced by 18.4 percent in 2022 to achieve its best annual performance since launching in late 2010.
The team seeks to identify long-term trends in the TMT industry and buy the shares of companies that can benefit from them. They also short stocks of companies whose business model does not fit the changing environment. “We believe that there has been too little investment in IT and telecom infrastructure in recent years, and we consider this to be a good basis for future growth,” explains the four-man management team consisting of Anders Tandberg Johansen, Sverre Bergland, Erling Thune and Erling Haugan Kise.
Oceanic Hedge Fund
Long/short energy transition and shipping fund Oceanic Hedge Fund, run by Norwegian Cato Brahde from the remote Isle of Man in the Irish Sea, won the “Emerging Manager & Smaller Fund – Equity Strategies” at this year’s EuroHedge Awards ceremony. Oceanic Hedge Fund was the second best-performing member of the Nordic Hedge Index in 2022 with a yearly return of 36.4 percent.
Brahde, who heads a team of five – three of whom are Scandinavian – has designed a diversified investment approach to benefit from the cyclical nature of the shipping and energy sectors. Oceanic Hedge Fund has generated an annualized return of 9.1 percent since launching in mid-2002.
Nordea European Rates Opportunity Fund
Nordea European Rates Opportunity Fund, a relative-value fixed-income hedge fund run by Nordea Asset Management’s Copenhagen-based Fixed Income and Covered Bonds team, won the “Fixed Income” category at the 2022 EuroHedge Awards. After returning 10.2 percent in the challenging market environment of 2022, Nordea European Rates Opportunity Fund won the category dominated by Nordic names.
“We did it! The European Rates Opportunity Fund is winning the Best Fixed Income Fund of the year at the EuroHedge Awards in London last night,” comments Henrik Stille, the portfolio manager of the fund. “Congratulations to everyone at Nordea Asset Management that are working with the fund and thank you to our investors for believing in the strategy.”
