AsiaHedge Awards 2008
Venue: Four Seasons Hotel
Location: Hong Kong
Dates: Thursday, 16 October 2008
Thursday, 16 October 2008
The AsiaHedge Awards will celebrate the top performing hedge funds in Asia-Pacific at a glamorous awards ceremony at the Four Seasons Hotel, Hong Kong. Now in its seventh year, the awards bring together both international and Asian managers and investors to acknowledge the achievements of the best in the industry.
Artradis, Brevan Howard and Dragonback lead the winners at AsiaHedge Awards
Gartmore Japan takes Management Firm of the Year
In what has been a terribly difficult market environment for hedge funds in the Asia-Pacific this year, with many funds posting negative returns, Artradis Barracuda emerged as the leading player to buck the trend, posting gains of over 25% in the past 12 months.
HONG KONG, 17th October 2008 – Artradis Barracuda, the volatility-based strategy managed from Singapore by Richard Magides and Steve Diggle, took the plaudits of the Asia-Pacific hedge fund industry last night, winning the Fund of the Year award at the 7th annual AsiaHedge Awards, held at the Four Seasons Hotel in Hong Kong.
Artradis beat off strong competition to take the top award for Fund of the Year – from a shortlist also featuring Brevan Howard Asia, winner of this year's International fund award for funds managed from the region trading global macro or global equity strategies; Dragonback Asia Pacific Equity Multi-Strategy, winner of the Multi-Strategy category; Doric Focus, winner of the Asia ex-Japan award; and Rockhampton, winner of the top award two years ago, and also managers of the Yaraka fund, which won this year's Best Japan fund award.
While narrowly beaten for the Japan award, the strong all-round performance of the Gartmore Japan team in Tokyo saw them take the Management Firm of the Year award for 2008 – against stiff competition from Artradis, Coupland Cardiff Asset Management and LIM Advisors.
Coupland Cardiff had the consolation of taking away the Event Driven strategies award for its CC Asia Advantage fund. Other winners included JF for Asia ex-Japan as well as some rising stars such as Dragon Billion China for Best Single Country fund, Titan Asia Volatility for Arbitrage & Market Neutral, QBridge for Fixed Income, High Yield & Distressed, and Trafalgar Copley for New Fund of the Year.
More than 300 leading figures in the industry attended the event to pay tribute to the best risk-adjusted performers in some of the most difficult market conditions for decades.
ASIAHEDGE AWARDS 2008 – winners in full
JF Asia Absolute Return
CC Asia Advantage
Dragon Billion China
Arbitrage & Market Neutral
Titan Asia Volatility
Brevan Howard Asia
Fixed Income, High Yield & Distressed
Dragonback Asia Pacific Equity Multi-Strategy
New Fund of the Year
Management Firm of the Year
Fund of the Year
Awards background and decision criteria
The AsiaHedge Awards were based on the best risk-adjusted returns over the 12-month period to the end of August 2008. To qualify, funds had to submit their data to the AsiaHedge database, which tracks about 80% of all Asia-Pacific hedge funds.
To qualify for the main categories, funds needed minimum assets of $100 million, with the exception of New Fund of the Year, for which no formal minimum applied. For Management Firm of the Year, contenders needed to run at least three separate strategies and at least $1 billion of assets.
The Sharpe ratio was used to select nominees. The best performer among the nominees then wins each award, providing its Sharpe ratio was also within 25% of the best in the category.
The New Fund of the Year categories, as well as overall Fund of the Year and the Management Firm of the Year, were decided on other quantitative measures – including returns relative to underlying markets and peer groups – as well as Sharpe ratios and returns.
About AsiaHedge and HedgeFund Intelligence
AsiaHedge is published by HedgeFund Intelligence, the leading provider of news, analysis and performance data on the global hedge fund industry. The company provides dedicated information on US, European, Asian and African single-manager hedge funds as well as on hedge fund investors worldwide.
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Neil Wilson, editorial director, HedgeFund Intelligence
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Paul Storey, editor, AsiaHedge