InvestHedge Awards 2008 (& Global Briefing Seminar)
Venue: The Pierre (61st and fifth)
Location: New York
Dates: Thursday, 12 March 2009
Thursday, 12 March 2009
Some 300 of the leading players in the global fund of hedge funds industry came together last night at the Pierre Hotel in New York for the Seventh annual InvestHedge Funds of Hedge Funds Awards for the best risk adjusted performance among the global funds of hedge funds universe. For the first time, 13 out of the 19 awards were judged on 36 month risk-adjusted performance.
- Funds must submit performance data to the InvestHedge Database and have a 36-month track record, with no pro-forma data. The InvestHedge year runs from January to December.
- The only exception to the rule is: New Fund of the Year where we only require a six-month minimum track record. For New Fund of the Year, funds launched during the 18 months prior to the event will be considered, taking into account their whole performance history to date.
- All funds of funds must also provide a strategy allocation breakdown for each fund entered (InvestHedge will have the final say in which category a fund is nominated).
- Any fund of funds that has not been listed in an issue of InvestHedge in 2008 up to and including December/January 2008/2009 and does not have a full 11-month track record in the InvestHedge Database by 31 December 2008 will NOT be included in the nomination process for the 2008 InvestHedge Awards.
- Winners are decided using an established methodology based on a combination of Sharpe ratios and returns over the relevant time period.
- Nominations are decided by those funds that achieve the strongest Sharpe ratios over 12 or 36 months (depending on category).
- The eventual winners will be those funds of funds that achieve the best returns, as long as they also achieve Sharpe ratios within 25% of the best of the nominees.
- Most of the main award categories require a minimum asset level of at least $100 million. The Global Multi-Strategy and 10 Year Performance categories are listed separately, while the New Fund of the Year needs to have a minimum of $50 million.
- For Institutional Firm of the Year, we will look at three different criteria:
- Number of mandates won in 2008 (as reported in InvestHedge)
- Asset Growth as measured in the 2008 InvestHedge Billion Dollar Club
- More than half the assets must come from the institutional market
- The criteria for the Three Year Group Award will be based on various quantitative factors, including weighted average Sharpe ratio across the product range; outperformance of the InvestHedge Medians weighted by assets; as well as the growth of assets under management by both absolute amount and in percentage terms.