With Intelligence has revealed the shortlist for the HFM European Performance Awards 2025, featuring an unusually small number of Nordic hedge funds among this year’s nominees. Just a year ago, six Nordic managers took home trophies at the HFM EU Performance Awards event in London on October 10, following a much broader list of Nordic contenders. This time, only eight Nordic hedge funds have made the cut.
The HFM European Performance Awards aim to recognise and reward the top-performing hedge funds, funds of hedge funds, and CTAs across Europe. Winners are selected by a panel of leading institutional and private investors, as well as investment consultants. The judging process considers absolute performance, volatility of returns, and outperformance relative to benchmarks, alongside factors such as assets under management, long-term track records, investment strategy characteristics, and expert insights. The winners will be announced on November 25 in London.
The most visible Nordic manager among this year’s nominees is Stockholm-based Lynx Asset Management, with all three of its vehicles shortlisted at the 2025 HFM European Performance Awards. The flagship Lynx Program, managing $5.7 billion in assets as of the end of September, has been nominated in the “Managed Futures (CTA) Long-Term Performance (5 Years) – Over $1bn” category. Lynx Constellation Program has been shortlisted in two categories: “Managed Futures (CTA) Up to $1bn” and “Quantitative Strategy Up to $1bn.” Lynx Systematic Macro is nominated in the “Newcomer – Managed Futures/Macro” category.
Two Danish fixed-income hedge funds, SRV Fixed Income and CABA Hedge, have been shortlisted in separate categories. CABA Hedge is competing in the “Credit – Relative Value Up to $500m” category, while SRV Fixed Income has been nominated for “Alternative Risk Premia.” Another Danish fund, Danske Bank Asset Management’s Global Cross Asset Volatility Fund, has been shortlisted in the “Volatility Fund” category.
The strong-performing Norwegian hedge fund universe is represented solely by the Svelland Global Trading Fund. The commodity-focused vehicle, led by Tor A. Svelland and his team out of Oslo and London, is competing in the “Commodities Fund” category at this year’s HFM EU Performance Awards. The fund has previously won the category for two consecutive years. Meanwhile, Alcur Fonder’s low-net long/short equity fund, Alcur, has been shortlisted in the “European Equity” category.
