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Nominations for the 2025 Nordic Hedge Award

Kamran Ghalitschi
By Kamran Ghalitschi

HedgeNordic is delighted to announce the nominees for the 2025 Nordic Hedge Award. The annual event aims to distinguish outstanding hedge fund managers from and active in the Nordic region. Nominees are determined using a quantitative model developed in cooperation with the Swedish House of Finance at the Stockholm School of Economics.

All constituents of the Nordic Hedge Index with a minimum track record of 36 months are eligible for consideration in the main award categories at the Nordic Hedge Award. The selection process relies on a model that translates performance-related metrics for each fund into a quant score. These metrics include last year’s absolute performance, relative performance in 2025 (respective to relevant NHX sub-categories), as well as Sharpe ratio, skewness, as a measure of downside risk, and absolute performance over a 36-month period.

Each of the metrics has a different weighting in the model. The five funds with the highest quant scores in each category are nominated for the Nordic Hedge Award. The list of nominees is handed to a jury board comprised of Nordic allocators (view this year’s jury board), who provide a qualitative-based scoring for each fund to determine the final ranking. Awards will be presented to the top three ranked funds of each category at the final event on April 22, 2026 in Stockholm.

The winners of each category, including the “Best Nordic Hedge Fund” of 2025, will be presented with awards at the event of the Nordic Hedge Award, which takes place on April 22nd, 2026, in Stockholm. Below is the complete list of nominees.

The Nordic Hedge Award is supported by these fine entities:

Nominees – Best Nordic Equity Hedge Fund 2025

StatusFundManagerCountry
NominatedAquaeductusAKJ FMG LimitedNorway
NominatedCARN LatitudeCARN CapitalNorway
NominatedCoda Global OpportunitiesCoda PartnersNorway
NominatedSector Zen FundSector Asset ManagementNorway
NominatedSissener CanopusSissener ASNorway
All funds listed in alphabetical order

Nominees – Best Nordic Fixed-Income Hedge Fund 2025

StatusFundManagerCountry
NominatedAsgard Fixed Income FundAsgard Asset ManagementDenmark
NominatedAsgard Fixed Income Risk PremiaAsgard Asset ManagementDenmark
NominatedDanske Invest Fixed Income Global ValueDanske Bank Asset ManagementDenmark
NominatedDanske Invest Fixed Income Relative ValueDanske Bank Asset ManagementDenmark
NominatedNykredit MIRA Hedge FundNykredit Asset ManagementDenmark
All funds listed in alphabetical order.

Nominees – Best Nordic Diversified Hedge Fund 2025

StatusFundManagerCountry
NominatedAgenta Alternativa InvesteringarAgenta Investment ManagementSweden
NominatedAtlas Global MacroAtlas Global Macro RAIFDenmark
NominatedBrobacke Global AllokeringAlfakraft FonderSweden
NominatedFenja Capital IIFenja CapitalDenmark
NominatedHCP Black FundHelsinki Capital PartnersFinland
All funds listed in alphabetical order.

Nominees – Best Nordic Managed Futures / CTA Fund 2025

StatusFundManagerCountry
NominatedCalculo AltusCalculo CapitalDenmark
NominatedEstlander & Partners FreedomEstlander & PartnersFinland
NominatedLynx ConstellationLynx Asset ManagementSweden
NominatedMandatum Managed Futures FundMandatum Asset ManagementFinland
NominatedVolt Diversified Alpha FundVolt Capital ManagementSweden
All funds listed in alphabetical order.

Nominees – Best Nordic Multi-Manager Hedge Fund 2025

StatusFundManagerCountry
NominatedAIM Diversified Strategies FundAIM CapitalFinland
NominatedBrummer Multi-StrategyBrummer & PartnersSweden
NominatedDNB Stable AlphaDNB Asset ManagementNorway
NominatedR2 Crystal FundOP Fund ManagementFinland
NominatedSecure HedgeSecure SpectrumDenmark
All funds listed in alphabetical order.

Nominees – Best Nordic Equity Long-Only Hedge Fund 2025

StatusFundManagerCountry
NominatedAsilo ArgoAsilo Asset ManagementFinland
NominatedAuAg Precious CoreAuAg FundsSweden
NominatedBorea UtbytteBorea Asset ManagementNorway
NominatedHCP Focus FundHelsinki Capital PartnersFinland
NominatedHCP Quant FundHelsinki Capital PartnersFinland
All funds listed in alphabetical order

Nominees – Best Nordic Hedge Fund (Overall) 2025

StatusFundManagerCountry
NominatedAtlas Global MacroAtlas Global Macro RAIFDenmark
NominatedCoda Global OpportunitiesCoda PartnersNorway
NominatedDanske Invest Fixed Income Global ValueDanske Bank Asset ManagementDenmark
NominatedNykredit MIRA Hedge FundNykredit Asset ManagementDenmark
NominatedSector Zen FundSector Asset ManagementNorway
All funds listed in alphabetical order

More details about the Nomination Process at the Nordic Hedge Award

Congratulations to all nominated funds!

The Nordic Hedge Award is supported by these fine entities:

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Kamran Ghalitschi
Kamran Ghalitschi
Kamran has been working in the financial industry since 1994 and has specialized on client relations and marketing. Having worked with retail clients in asset management and brokerage the first ten years of his career for major European banks, he joined a CTA / Managed Futures fund with 1,5 Billion USD under management where he was responsible for sales, client relations and operations in the BeNeLux and Nordic countries. Kamran joined a multi-family office managing their own fund of hedgefunds with 400 million USD AuM in 2009. Kamran has worked and lived in Vienna, Frankfurt, Amsterdam and Stockholm. Born in 1974, Kamran today again lives in Vienna, Austria.
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