Absolute Return Awards 2008

Venue: 583 Park Avenue
Location: 63rd Street and Park Avenue, New York
Dates: Tuesday, 18 November 2008 - Tuesday, 18 November 2008


Click here for details of the AR Awards 2011           

 

PAULSON TAKES 3 TOP HONORS FOR SECOND CONSECUTIVE

YEAR  AT 2008 ABSOLUTE RETURN AWARDS

        

MILLENNIUM INTERNATIONAL HAILED AS

BEST LONG-TERM PERFORMER


GOSHEN WINS FUND OF THE YEAR


OTHER WINNERS INCLUDE PERSHING SQUARE, BLACKROCK AND BALESTRA

PLATNIUM PARTNERS NAMED AS BEST MULTISTRATEGY

 

 New York, November 19, 2008 – Paulson & Co, headed by John Paulson, won three awards for the second year in a row, including Management Firm of the Year at last night's 2008 Absolute Return Awards Dinner. Paulson, who was nominated for four awards, is the first hedge fund firm to take three awards in consecutive years since the awards were launched.  Paulson also took home awards in the event driven and distressed securities categories.
 
Fifteen other awards were also presented at the fourth annual event which recognizes the best risk-adjusted performance by U.S. hedge funds.  Goshen Global Equity won two awards including the night's coveted Fund of the Year.
 
GMO Tactical Opportunities won the award for Equity Market Neutral & Quantitative Strategies, a newly created category and Millennium International won the prestigious award for the best long-term performance over a 10-year time period.
 
 
Other notable winners included William Ackman's Pershing Square in the U.S. equity category, Balestra Capital in the global macro category, BlackRock Health Sciences in the equity sector funds category and Roy G. Niederhoffer in the managed futures category. 
 
"In one of the toughest years on record, these managers have proved that they can protect capital and provide alpha," said Michelle Celarier, Editor-in-Chief of Absolute Return.  "Many funds have shown resiliency in adverse market conditions, which is a testament to the wide ranging activities and strategies hedge funds can employ as they seek high risk-adjusted returns for their investors."
 
This year's full list of winners is as follows:
 

FUND OF THE YEAR

Goshen Global Equity

LONG-TERM PERFORMANCE

Millennium International

MANAGEMENT FIRM OF THE YEAR

Paulson & Co.

NEW FUND OF THE YEAR

Capstone Volatility

MULTISTRATEGY

Platinum Partners Value Arbitrage

U.S. EQUITY

Pershing Square International

GLOBAL EQUITY

Goshen Global Equity

EQUITY SECTOR FUNDS

BlackRock Health Sciences

SMALL-CAP EQUITY

Harvest Small Cap Partners

EMERGING MARKET EQUITY

JGP Max FIM

EVENT DRIVEN

Paulson Advantage Plus

ARBITRAGE & CONVERTIBLES

Titan Global Return

FIXED INCOME & MORTGAGE BACKED

Alphadyne International

HIGH YIELD & EMERGING MARKET DEBT

Brevet Capital Special Opportunities

DISTRESSED SECURITIES

Paulson Credit Opportunities

GLOBAL MACRO

Balestra Capital Partners

MANAGED FUTURES

Roy G. Niederhoffer Negative Correlation

EQUITY MARKET NEUTRAL & QUANTATIVE STRATEGIES

GMO Tactical Opportunities

 

Absolute Return employs a quantitative methodology for selecting nominees and winners.  In order for funds to be considered, they must not only produce strong returns – at least beating the median in the relevant peer group – but also must demonstrate that they can manage market volatility by generating a strong Sharpe ratio.  The Fund of the Year nominees are considered from among the funds that won awards in the various other categories and funds with outstanding performance but which had missed out in their category by falling just short of the 25% Sharpe range.
 
About Absolute Return and HedgeFund Intelligence
 
Absolute Return is the leading source of U.S. hedge fund news and information, featuring proprietary data and analysis on more than 2,500 U.S. single-manager hedge funds. Absolute Return, a monthly magazine, and the Absolute Return Directory and Database are divisions of HedgeFund Intelligence, a global provider of hedge fund news and data. For more information, please visit www.hedgefundintelligence.com/ar/.
 
 

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Absolute Return Awards 2007 


This year's stormy markets – and unprecedented government intervention in the
U.S. financial system – have provided pain and uncertainty for U.S. hedge funds
as a whole. And the performance numbers to be considered for the final month –
September, which brought the failure of Lehman Brothers and a broad ban on
shorting financial stocks – meant near-record volatility and a significant overhaul
of our nominations.

In the Global Equity category, based on trailing 12-month net returns through September, Chris Burn's Goshen Global Equity has emerged as a contender to Viking Global Equities III, Passport and Glenrock Global Partners. Other new contenders include Titan Global Return in Arbitrage & Convertible Strategies and Duma Global Opportunity in Event Driven. In the Macro category, two new contenders emerged: Galtere International and MLM Macro – Peak Partners. There are also two new nominees in Managed Futures: Roy G. Niederhoffer Diversified and Welton Directional.

MKP Opportunity is now a nominee in the Fixed Income and Mortgage-Backed Securities category, while Lazard Emerging Income joins the lineup in High-Yield and Emerging Market Debt.

We are also pleased to name Tokum Offshore and Global Secured Capital among the contenders in the New Fund of the Year category, as well as Caxton Global Investment for Long-Term Performance. 

No fewer than seven of the final nominees – Passport Global Strategy, Paulson Credit Opportunities, Paulson Enhanced, Harbinger Capital, HG Green, Whitebox Intermarket and Zweig-DiMenna – were winners in 2007, while both Pershing Square and Clarium Capital have also been honored in prior years as best in class. Another eight of the nominees were also in the running last year, namely Atlas Global, Caxton Global, Graham Global, Moore Global Fixed Income, Paulson Advantage, Quantek Opportunity, Viking Global Equities III and Whitebox Hedged High Yield.

The Absolute Return Awards are decided by a purely quantitative methodology rather than by the subjective elements of many other awards. Nominees must meet a minimum level of assets under management, beat the median return in their relevant peer group and generate a Sharpe ratio among the best in their class. The aim is to recognize the managers who succeeded in producing the best risk-adjusted returns of the year across the industry.

More than 350 leading figures in the industry have attended this event in each of the past three years, with many of the industry's top firms taking tables for the evening, including Paulson & Co., Eton Park Capital Management and Citadel Investment Group.  

To find out more about this year's dinner and to book your table, please contact Sumehr Sondhi, E: ssondhi@absolutereturn.net

 


To view the final nominations click here

 

Table of ten:  US$9000 / £4500 / €5650
Enquiries: Sumehr Sondhi
E-mail:
ssondhi@absolutereturn.net
Tel: +1 212 224 3275 

Cancellation policy:  Please note that we do not take cancellations.