Stockholm (HedgeFonder.nu) – The shortlist of funds nominated for the first Nordic Hedge Award showed a mix of some well known names of “the usual suspects” but also several surprises. Five funds were shortlisted in each of the seven categories based on a quantative model co-developed by Nordic Business Media and Stockholm School of Economics on data drawn from the Hedge Nordic database. Five factors were taken into consideration and weighted: Net return in 2012, relative performance to the respective Nordic Hedge Index (NHX) sub index, risk adjusted returns (Sharpe Ratio), consistency of returns as well as annualized returns since inception.
Danish funds dominated the nomination short list for the fixed income category: Danske Invest Hedge Fixed Income, HP Hedge, Midgard Fixed Income Fund and Asgard Fixed Income Fund were joined by Swedish Excalibur.
Atlant Explora, Rhenman Healthcare Equity L/S from Sweden, Norwegian Sector Zen and Taiga Fund as well as Danske Invest European Equities Absolute Fund qualified for the final round in the equity category.
The Managed Futures / CTA category, supported by Efficient Capital, brought up five funds that are probably less known to a broader audience, leaving the industries giants behind them. Norway’s Warren Capital won two nominations with Warren Short Term Trading and Fourth Moment Macro. Alandsbanken Commodity Fund, ALFA Commodity Fund from Sweden and Danish Capricorn FXG10 complete the five CTA nominees.
Norwegian Grand Haven Capital Fund prevented a clean sweep in the “Best Small Nordic Hedge Fund” category for Swedish managers: Atlant Edge is joined by Merrant Alpha select, P&N Idea and Sentat Event Driven.
Computation of results from Multi Strategy managers resulted in nominations for Brummer & Partners Nektar, Atlant Stability, GMM and Tanglin fund as well as Norwegian Warren Diversified.
Brummer Multi-Strategy, Agenta Multistrategy, DnB Prisma and Merrant Alpha Select from Sweden made the top five in the fund of hedge fund category along with Norwegian Sector Polaris.
The trophy for the Award as “Best Nordic HedgeFund” across all categories will be fought out by Capricorn FXG10, Warren Short Term Trading, Danske Invest Hedge Fixed Income and Midgard Fixed Income Fund as well as Asgard Fixed Income Fund.
Atlant Fonder and Warren Capital managed to get nominations for three different funds, Peter Warren winning a total of five nominations. Swedish managers won 17, Danish 10 and Norwegian managers 8 nominations. No Finnish funds made the short list and also the only Icelandic hedge fund Verto Recovery Fund missed the top five in their categories.
A professional jury consisting of Thomas Bergström (Nordea), Markus Dahlquist (Stockholm School of Economics), Yngve Torvanger Jordal (Pareto), Tomi Langström (Northern Star), Lars Lövgren (DnB) and Thomas Raber (Alvine Capital) will submit their scores for the shortlisted funds to complete the results for the 2012 Nordic Hedge Award.
The final ranking and winners of the inaugural Nordic Hedge Award will be announced on April 24th 2013.
Picture: (c) Konstantin Gastmann—pixelio.de