With 11 of the 12 months that count now in the record books, we are delighted to announce the initial nominations for this year’s AsiaHedge Awards, to be held on 25 October at the Island Shangri-La Hotel in Hong Kong.
As in previous years, our main aim with the awards is to let the numbers do the talking. The nominations and eventual winners will be decided again by a quantitative process which aims to recognise the twin aims of hedge funds – to manage volatility and to deliver positive results for investors.
For most categories, minimum asset levels required to qualify remain unchanged at $50 million, with nominations then based on outright returns and Sharpe ratios over the 12 months from September 2011 to August 2012. The winners will again be those funds that meet the relevant criteria and that achieve the highest returns – so long as they are also within 25% of the best Sharpe ratios, and within at least 10% of their high-water marks.
Exceptions to the standard criteria include the awards for new funds (where there is no formal minimum on asset levels), and for Long-Term Performance and Management Firm of the Year (where the minimum is much higher, at $500 million).
There is also one new award we have now decided to add this year – for Best Emerging Manager & Smaller Fund – for funds of up to $50 million. Following a period when asset raising has become very difficult, this award aims to give recognition where it is due to the increasing number of longer-established quality funds – from across all strategy areas – that have continued to deliver strong performance despite not yet attracting larger amounts of assets.
The awards that include funds trading in different strategy areas – such as Single Country and Fund of the Year – will also take into account how managers have performed versus their relevant benchmarks and peer groups.
At this stage, with 11 of the 12 months that count now in the record books, there is only one month to go before the nominations are finalised – after the returns are reported for August. In the September edition of AsiaHedge the final nominations will be announced, including the contenders for New Fund of the Year, Long Term Performance and Best Management Firm.
As is traditional, nominations for overall Fund of the Year will not be announced until the evening of the event itself. To see the initial nominations, please click here.