AR Awards: Final Nominees Announced

By Katrina Dean Allen

Mon Nov 1, 2010

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A number of new names emerge as final contenders.



It is a long-held belief in the hedge fund industry that the larger a fund gets, the harder it is to deliver strong returns. But if the nominees for the 2010 AR Awards are anything to go by, size may not be quite as big an obstacle to performance as some believe.

While a number of new names have emerged as final contenders, this year's competition is heavily populated with funds from some of the most well-established players in the industry. These marquee names, along with some newer contenders, will be feted during a black-tie dinner on November 18 at the Mandarin Oriental Hotel in New York City.

John Paulson continues to dominate despite recent concerns from investors that the firm has grown too big to generate outsized returns. His Paulson Credit Opportunities fund is nominated for the third year in a row in the distressed category, which it won in 2008. Paulson Advantage is up for the Long Term Performance award, the same category its Paulson International fund was nominated in last year. Paulson & Co. is also a contender for Management Firm of the Year, a category the firm has won for the past three years.

Bridgewater Associates, the biggest hedge fund in the world, is also proving that size doesn't always matter when it comes to putting up big numbers. Both its Bridgewater All Weather and Bridgewater Pure Alpha funds are contenders for the Global Macro category. The firm has also been nominated for the first time for Management Firm of the Year.

Bill Ackman is another industry veteran on the shortlist this year. His firm, Pershing Square Capital Management, was nominated in the U.S. Equity category three years in a row from 2006 and took home the prize both in 2006 and 2008. Other brand-name firms with nominations in multiple categories are BlackRock, Carlson Capital, Pine River Capital Management and York Capital Management.

The list is based on the past 12 months' results ending September 30. The Fund of the Year challengers will be announced at the awards ceremony.

The AR Awards are 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. Funds must also be within 10% of their high-water mark.

To find out more about this year's dinner and to book your table, please visit www.absolutereturnawards.com

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AR AWARDS 2010 - FINAL NOMINATIONS

U.S. EQUITY
Omega Overseas
Pershing Square
Sandler Associates
Seminole Capital Partners
Sprott Capital

GLOBAL EQUITY
Crestwood Capital Partners
Crosslink Emerging Growth
M Kingdon Offshore
Maverick
Wexford Catalyst

SPECIALIST EQUITY
Caduceus Capital
Coatue Offshore
JANA Nirvana
Perceptive Life Sciences
Visium Balanced

EMERGING MARKET EQUITY
ARX Long Short FIM
IP investment Fund - Value Brazil
JGP Max FIM
M Square Brazil Value
Tarpon All Equities

ARBITRAGE & CONVERTIBLES
Advent Convertible Arbitrage
Lazard Rathmore
Symphony Rhapsody
Tenor Opportunity
Wolverine Convertible Arbitrage

EVENT DRIVEN
Amber Global Opportunities
ECF Value
Pentwater Event Fund
PSAM WorldArb
Scoggin Capital
Third Point Offshore
York Total Return

GLOBAL MACRO
Alphadyne International
Banyan Capital
Bridgewater All Weather
Bridgewater Pure Alpha
Graham Global Investment
NWI Explorer Global

MULTISTRATEGY
BlackRock Multi-Strategy
Canyon Value Realization
Carlson Capital Double Black Diamond
Hudson Bay
Mariner Partners
Millennium International
Whitebox Multi-Strategy

MANAGED FUTURES
FX Concepts Multi-Strategy
NuWave Combined Futures Portfolio
QFS Currency
Renaissance Institutional Futures
Viridian

FIXED INCOME & MORTGAGE-BACKED
Barnegat
BlackRock Obsidian
Halcyon Offshore Asset Backed Value
Nisswa Fixed Income
Providence MBS
SPM Structured Servicing Holdings

HIGH YIELD & EMERGING MARKET DEBT
Arrow High Yield
BlueMountain Credit Alternatives
Brevan Howard Credit Catalysts
Moneda Latin American Debt
NWI Emerging Markets Currency
Waterfall Eden

DISTRESSED
BHR Master Fund
Candlewood Special Situations
Marathon Special Opportunity
Palomino
Paulson Credit Opportunities
Perella Weinberg Partners Asset Based Value
Strategic Value Restructuring
York Credit Opportunities

LONG TERM PERFORMANCE (over 5 years)
Atlas Global
Balestra Capital Partners
Carlson Capital Black Diamond Relative Value
King Street Capital
Paulson Advantage

NEW FUND OF THE YEAR
5:15 Master Fund
Alphadyne Global Rates
Brevan Howard Credit Catalysts
Front Street Chelston Park Energy Resource
HG Vora Special Opportunities
Nisswa Convertibles
Pentwater Equity Opportunities
Seven Hills Capital Partners

MANAGEMENT FIRM OF THE YEAR
BlackRock
Bridgewater Associates
Carlson Capital
Paulson & Co
Pine River Capital Management
York Capital Management

FUND OF THE YEAR
To be announced on the evening of the awards dinner

[ Event Information. Nomination criteria]