Top performers vie for this year’s Absolute Return Awards

Fri Oct 2, 2009

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Book now to reserve your place as AR magazine honors the the best in a buoyant year.


 In the aftermath of the financial crisis, hedge funds have been left to shore up their portfolios and start producing profits again. Many funds seem to be up to the challenge as they gear up for this year's fifth annual Absolute Return Awards, to be presented at a black-tie dinner on November 2 at 583 Park Avenue in New York City.

Eight of the funds in the running—Balestra Capital Partners, BlackRock Health Sciences, Harvest Small Cap Partners, JGP Max FIM, Millennium International, Paulson Advantage, Paulson Credit Opportunities and Platinum Partners Value Arbitrage—were winners in 2008. At least another 11 of this year’s early contenders were also in the running last year, including Castle Creek Arbitrage, Caxton Global Investment, FrontPoint Financial Horizons, HG Green, King Street Capital, Paulson Enhanced, Perella Weinberg Partners Xerion Fund, Quantitative Global Fund, SPM Structured Servicing Holdings, Viking Global Equities III and Waterstone Market Neutral.

With only one more month of performance to count, the competition is heating up, especially for those who narrowly missed out last year. Viking Global Equities III was nominated in both 2007 and 2008, but has yet to gain the title for global equity. The same goes for FrontPoint Financial Horizons, which has challenged for the specialist equity title two years running. Both Caxton Global Investment and King Street Capital were nominated in 2007 and 2008 for best long-term performance, along with Millennium International, which won the title last year.

The provisional nominees are based on the past 11 months' results; final nominees will be determined for the 12 months ending September 30. In late October, AR will release the names of the final contenders, as well as the nominees for New Fund of the Year and Management Firm of the Year, which was won in the past two years by Paulson & Co. The Fund of the Year will be announced at the awards ceremony.

Once again, the Absolute Return Awards will be decided by a purely quantitative methodology. Nominees must meet the criteria for a minimum level of assets under management, beat the median return in their relevant peer group and generate best-in-class Sharpe ratios. The aim is to recognize those managers who succeeded in producing the best risk-adjusted returns among their peers.

Last year’s event proved hugely successful despite dreadful market conditions. More than 350 industry leaders have attended this event in each of the past four years, with many of the top firms taking tables, including Citadel Investment Group, D.E. Shaw and Moore Capital.

To find out more about this year’s dinner and to book your table, please complete the form or visit the event Website (www.absolutereturnawards.com) to make your arrangements. AR



 

Provisional nominees
2009 Absolute Return Awards

U.S. EQUITY
• Bay Resource Partners
• Elm Ridge Capital Partners
• Stelliam

GLOBAL EQUITY
• Carlson Black Diamond
Relative Value
• M Kingdon (Offshore NV)
• Maverick
• Viking Global Equities III

SPECIALIST EQUITY
• BlackRock Health Sciences
• CRM Windridge Partners
• FrontPoint Financial Horizons
• Harvest Small Cap Partners
• Seligman Spectrum Focus

EMERGING MARKET EQUITY
• ARX Target FIM
• BRZ Long Short FIM
• HG Green
• JGP Max FIM

ARBITRAGE & CONVERTIBLES
• Castle Creek Arbitrage
• Paulson Enhanced
• Symphony Rhapsody
• Waterstone Market Neutral
• Whitebox Concentrated Convertible Arbitrage

EVENT DRIVEN
• Gruss Global Investors
• King Street Capital
• Paulson Advantage
• Pentwater Event Fund

GLOBAL MACRO
• Balestra Capital Partners
• Caxton Global Investment
• MKP Opportunity
• Moore Global Investments
• Quantum Endowment

MULTISTRATEGY
• Halcyon Enhanced
• Millennium International
• Nisswa Fund
• Orbis Optimal
• Platinum Partners Value Arbitrage

MANAGED FUTURES
• Chesapeake Diversified
• Graham Global Investment
• Hyman Beck Global Portfolio
• Quantitative Global
• Sunrise Capital Diversified

FIXED INCOME & MORTGAGE-BACKED SECURITIES
• Barnegat
• EMF Fixed Income
• Midway Market Neutral
• MKP Credit
• SPM Structured Servicing Holdings

HIGH YIELD & EMERGING MARKET DEBT
• BlueMountain Credit Alternatives
• Brownstone Partners Catalyst
• Mariner Tricadia Credit Strategies
• NWI Emerging Markets Currency

DISTRESSED SECURITIES
• Caspian Select Credit
• Davidson Kempner Distressed Opportunities
• Paulson Credit Opportunities
• Perella Weinberg Partners Xerion Fund
• York Credit Opportunities

LONG-TERM PERFORMANCE
• Caxton Global Investment
• King Street Capital
• Millennium International
• Paulson International
• SAC Capital International

NEW FUND OF THE YEAR
• Alden Global Distressed Opportunities
• Marathon Credit Opportunity
• Nisswa Fixed Income
• Whitebox Special Opportunities

MANAGEMENT FIRM OF THE YEAR
Nominees to be announced next month

FUND OF THE YEAR
Nominees to be announced at the awards ceremony

ISSN: 2151-1845 / CDC10004H