21 Feb 2013, Clare Dickinson, Hedge Funds Review
Entries for Hedge Fund Review's 13th Annual European Single Manager Awards have opened. This year's awards include several new categories reflecting changes in the hedge fund industry.
To recognise the wealth of new talent entering the industry, there are separate awards for emerging managers. This includes six strategy categories and an award for emerging manager of the year. Emerging managers are defined as those with a track record of two years or less. There is no minimum AUM requirement.
Given the growth of volatility strategies, there is now a separate category for hedge funds running this strategy.
Quantitative investment styles have also been added: value, fundamental and quantitative over one year.
As alternative Ucits funds continue to grow, this category has added specific strategies to the awards list.
A series of qualitative awards recognises some of the more esoteric but important aspects of running a hedge fund. Socially responsible investing, investor relations and innovation as well as contributions to the industry by individuals and organisations are being honoured at this year's awards.
Philippa (Pippa) Malmgren, a politics and policy expert, will be the after-dinner speaker. She is a former special assistant to the US President for economic policy on the National Economic Council and former member of the US President's Working Group on Financial Markets. Currently she is president of the Canonbury Group and co-founder of Principalis Asset Management.
The hedge fund investment process relies on more than just numbers. Funds that meet the qualification criteria are ranked based on returns, Sharpe and Sortino ratios and downside deviation. The funds with the best aggregate ranking make a long list that goes before the panel of judges. The judges select a winner, taking into account the quantitative analysis as well as their qualitative experience and expertise.
Entries close on March 19.