Nordic Hedge Funds Among World’s Best Performers
By EUGENIU GUZUN 09/03/2018
Stockholm (HedgeNordic) – Activist fund Accendo Capital was the seventh best-performing hedge fund over the past three years among the 18,000 vehicles tracked by data provider Preqin. Rhenman Healthcare Equity L/S and AAM Absolute Return Fund also feature in Preqin’s special report dedicated towards the hedge fund industry’s best performers.
With an annualized return of 34.0 percent over the period of 2015 to 2017, the activist fund founded and managed by Henri Österlund and Mark Shay clinched the titles of the best-performing event-driven hedge fund, the second best-performing Europe-based hedge fund, and the best-performing Europe-focused hedge fund over a three-year basis. According to HedgeNordic data, Accendo Capital delivered a compounded annual return of 12.5 percent since the fund’s inception in early 2008 through January 2018.
The IC2 (USD) share class of Rhenman Healthcare Equity L/S returned 51.2 percent in 2017, allowing the healthcare-focused fund to take the third spot in the list of top performing hedge funds in 2017 with $500-999 million in assets under management. The IC1 share class denominated in Euro which is tracked by HedgeNordic returned an impressive 34.5 percent last year. The fund managed by Stockholm-based asset manager Henrik Rhenman of Rhenman & Partners Asset Management AB was the best NHX performer in 2017.
Last but certainly not least, AAM Absolute Return Fund, the long/short equity hedge fund managed by Oslo Asset Management, featured among the top ten best-performing Europe-based and top five best-performing Europe-focused hedge funds over the past three-year period. The Norwegian fund generated an annualized return of 22.4 percent over the past three years.
Not surprising then, all of the three above mentioned funds were also among the winners of the Nordic Hedge Award in the recent years. An overview of all historic winners in the various categories can be viewed here: NHA Historic Winners.