ASM and Value Partners lead the winners at 2010 AsiaHedge Awards
The ASM Asia Recovery Fund, managed by a team headed by V-Nee Yeh, Kin Chan and Angie Li, took the plaudits of more than 250 leading figures in the Asia-Pacific hedge fund industry last night as it collected the AsiaHedge Fund of the Year award for 2010 at a glittering industry dinner in Hong Kong.
The much-coveted Management Firm of the Year award was won for 2010 by Cheah Cheng Hye's Value Partners, which had no less than five individual funds nominated for the AsiaHedge Awards, and also took home the award for best China fund.
Despite the challenging financial markets of recent times, there was again an upbeat mood at the 9th AsiaHedge Awards Dinner, given expectations of high growth in the economies of Asia and related growth in the opportunities for hedge funds in the region.
"The AsiaHedge Awards are driven purely by a quantitative process, and based solely on the risk adjusted performance of hedge funds—making the awards unique and highly credible in the Asian hedge fund world," said Aradhna Dayal, editor of AsiaHedge, based in Hong Kong. "These awards come at a time when global investors are viewing Asia as a key allocation destination given the region's growth potential, and in many ways are a recognition of not just the abundant talent but also the institutionalisation and world class operational excellence that the Asian hedge funds have achieved," she adds.
In addition to Value Partners and ASM, other winners managed in Hong Kong included ADM Galleus in the Fixed Income & High Yield category, and Evenstar Sub Fund I, which won for a second year running in the Event Driven category.
Another successive winner was Prowess of Japan, managed from Tokyo, which won the Arbitrage & Market Neutral award for a second successive year. The best Japan fund award was won by Ed Brogan's Whitney Japan, managed from New York.
Winners managed from Singapore included Hidden Jewels, which won the Small & Mid-Cap award for a second time, APS Asia Pacific for Asia including Japan, and Whitefield Asian Opportunities for Asia excluding Japan.
Theoria Multi-Strategy, also managed from Singapore, won the hotly contested New Fund of the Year award.
Platinum International Brands, managed from Sydney, won the International award for best global equity strategy managed from within the Asia-Pacific region. And Thai Focused Equity, managed from Bangkok, returned to the winner's enclosure for the third time (having previously won in 2002 and 2004) winning the best Single Country fund award.
Other major international firms that won awards included Marathon and Capstone of the US, and Marshall Wace of the UK via its Asia-based joint venture MW Gavekal.
Marathon Asia was winner of the best Multi-Strategy fund award. Capstone Asia Volatility and MW Gavekal Asian Opportunities were winners in two new categories introduced this year – for Global Macro & CTA strategies and for UCITS absolute return strategies, respectively – reflecting recent growth in the number of funds of those types over the past year.
The full list of winners of this year's awards was as follows:
Small & Mid-Cap
Asia inc Japan
APS Asia Pacific
Asia ex Japan
Whitefield Asian Opportunities
Value Partners China Greenchip
Thai Focused Equity
Platinum International Brands
Arbitrage & Market Neutral
Prowess of Japan
Evenstar Sub Fund I
Fixed Income & High Yield
Global Macro & CTA
Capstone Asia Volatility
MW Gavekal Asian Opportunities
New Fund of the Year
Management Firm of the Year
Fund of the Year
ASM Asia Recover