Stockholm-based long/short equity house Prior & Nilsson had a bumper year in 2010 with the Idea Fund, the more adventurous of its two Nordic-biased European equity offerings.
Torgny Prior (left) and Per-Olof Nilsson
The fund, managed by co-founder Torgny Prior, made an impressive 30.26% return for the year – compared with around 5% for the EuroHedge European Equity Nordic index. The fund was already doing well when it received a late boost thanks to a strong showing in December, returning 8.32% on the month.
Prior & Nilsson’s other offering, the more conservative Yield Fund, also made good progress – returning 4.99% on the year. Yield is designed...