EuroHedge Awards 2018: updated nominations

Latest nominations also reveal management firm of year shortlist

With the performance numbers for November now in, we are pleased to announce the updated nominations for the EuroHedge Awards for 2018 – the big night when the European hedge fund industry comes together to recognise and honour the outstanding performers of the year.

The winners of the 18th annual EuroHedge Awards will be revealed and presented at a gala dinner on Thursday 24 January, to be held once again at The Grosvenor House Hotel on London’s Park Lane.

The updated lists of nominees contain a number of additions and changes to the first round of shortlists that we announced in November – and they also include nominations for the New Fund of the Year and Management Firm of the Year awards, as well as the nominees for the UCITS Fund and Emerging Manager & Smaller Fund awards.

With the returns for December still to be taken into account, these lists are still provisional. The final nominations for the Awards will be announced as early as possible in January and it is still possible that further changes will be made after the final month of trading in 2018.

To ensure that your fund is considered in time for the final nominations in January, please submit your monthly performance for December and the full calendar year to EuroHedge by Friday 4 January at the latest. A full guide to methodology follows at the foot of this article.

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EuroHedge Awards 2018 – Updated nominations

EUROPEAN EQUITY – over $500m

  • AKO
  • Bodenholm
  • Covalis Capital
  • Gladiator
  • Gladstone Lasker
  • Lansdowne European Absolute Opportunities
  • TT Mid-Cap Europe Long Short

 EUROPEAN EQUITY – under $500m

  • Antaurus Europe
  • CapeView Azri Strategic
  • Keel Capital Foghorn
  • Kuvari Focus
  • Man GLG UK Absolute Value
  • Sierra Europe Offshore

 GLOBAL EQUITY

  • AKO Global
  • Greenvale Capital
  • Lancaster Global LS Equity
  • Lancelot Camelot
  • Tosca Focus

 SPECIALIST SECTOR EQUITY

  • Cygnus Utilities, Infrastructure & Renewables
  • Lansdowne Energy Dynamics
  • Rhenman Healthcare Equity Long/Short
  • Sector Healthcare
  • Sphera Global Healthcare

EQUITY MARKET NEUTRAL & QUANTITATIVE STRATEGIES

  • ABCA Reversion
  • Agora European Equity Market Neutral
  • CZ Capital

CONVERTIBLES & VOLATILITY

  • Blue Diamond Non-Directional
  • BTG Pactual Global Derivatives Opportunities
  • Granite Alphen Capital
  • Mint Tower Arbitrage
  • Polygon Convertible Opportunity

EVENT DRIVEN & DISTRESSED

  • Caius Capital
  • CIAM Opportunities
  • Clareant Global Special Situations
  • Kite Lake Special Opportunities
  • MVN Event Driven
  • TT Event-Driven

 CREDIT – under $500m

  • Astra Structured Credit Investments
  • BK Opportunities
  • LNG Europa Credit
  • Northlight European Fundamental Credit
  • Selwood Credit Opportunity
  • Serone Key Opportunities

 CREDIT– over $500m

  • CQS ABS
  • East Lodge Capital Credit Opportunities
  • Palmerston Credit
  • Selwood Liquid Credit

 FIXED INCOME

  • Borea Hoyrente
  • Danske Invest Hedge Fixed Income Opportunities
  • HP Hedge
  • LMR Alpha Rates Trading
  • SEB Eureka Fixed Income Relative Value

SPECIALIST FINANCE

  • Ancile
  • Barak Structured Trade Finance
  • Cheyne Real Estate Credit Holdings
  • Clareant Structured Credit Opportunity
  • Omni Secured Lending
  • Scandinavian Credit
  • Securis Life

COMMODITY & CURRENCY

  • Centurion FX
  • East One Commodities
  • IPM Systematic Currency
  • Northlander Commodity Advisors
  • Premium Currencies

MACRO

  • ADG Systematic Macro
  • Aspect Systematic Macro
  • Brevan Howard
  • BTG Pactual Global Emerging Markets & Macro
  • TT International

EMERGING MARKETS

  • BlackRock Emerging Frontiers
  • Enko Africa Debt
  • Ion Israel
  • OCCO Eastern European
  • Polunin Capital Partners Emerging Markets Active

MULTI-STRATEGY

  • ABCA Opportunities
  • AlphaGen Multi-Strategy
  • Brevan Howard Multi-Strategy
  • Cheyne Global Equity
  • Formuepleje Penta
  • Man GLG Global Credit Multi-Strategy
  • LFIS Vision Premia Opportunities
  • LMR

MANAGED FUTURES

  • IV Quantitative Futures
  • John Street Vantage Strategy
  • Tiber Diversified Program
  • Winton Diversified Futures

UCITS FUND – EQUITY STRATEGIES

  • Artemis US Extended Alpha
  • LF Odey Absolute Return
  • Lyxor/Tiedemann Arbitrage
  • RWC Global Enhanced Dividend
  • TM Sanditon European Select
  • Veritas Global Real Return

UCITS FUND – MACRO, FIXED INCOME & RELATIVE VALUE

  • Assenagon Alpha Volatility
  • Legg Mason Western Asset Structured Opportunities
  • Lyxor/Chenavari Credit
  • Man AHL Multi Strategy Alternative
  • STORM Bond
  • WyeTree North American ABS

EMERGING MANAGER & SMALLER FUND – EQUITY STRATEGIES

  • EG Life Sciences
  • Lutetia Merger Arbitrage
  • Odey Absolute Return Focus
  • PriorNilsson Idea
  • Sefton Place

EMERGING MANAGER & SMALLER FUND – MACRO, FIXED INCOME & RELATIVE VALUE

  • Altum Credit European
  • Aquantum Commodity Spread
  • dormouse Fund
  • GreshamQuant – ACAR
  • North Emerging Markets
  • Ress Life Investments

NEW FUND OF THE YEAR

  • Adrigo Small & Midcap L/S
  • I. Grantia Anphora
  • Chelonia Market Neutral
  • Lancaster Global LS Equity
  • Trium Credere

LONG TERM PERFORMANCE (5 years) – EQUITY STRATEGIES

  • BlackRock European
  • Covalis Capital
  • Gladiator
  • Gladstone Lasker
  • Kairos Pegasus
  • Marshall Wace – MW Market Neutral TOPS
  • Rhenman Healthcare Equity Long/Short
  • TT Mid-Cap Europe Long Short

LONG TERM PERFORMANCE (5 years) – MACRO, FIXED INCOME & RELATIVE VALUE

  • Barak Structured Trade Finance
  • Blue Diamond Non-Directional
  • Clareant Structured Credit Opportunity
  • Cheyne Total Return Credit
  • Formuepleje Epikur
  • Formuepleje Penta
  • John Street Vantage Strategy
  • LMR
  • Northlander Commodity Advisors
  • Pharo Gaia

LONG TERM PERFORMANCE (10 years) – EQUITY STRATEGIES

  • AKO
  • Ennismore European Smaller Companies
  • Gladiator
  • GSA International
  • Lansdowne Developed Markets Strategic Investment
  • Marshall Wace – MW Eureka
  • Marshall Wace – MW Market Neutral TOPS
  • OCCO Eastern European
  • Sphera

LONG TERM PERFORMANCE (10 years) – MACRO, FIXED INCOME & RELATIVE VALUE

  • BlackRock Fixed Income Global Alpha
  • Boussard & Gavaudan
  • CQS ABS
  • CQS Directional Opportunities
  • Danske Invest Hedge Fixed Income Strategies
  • Nektar
  • Observatory Credit Markets
  • Pharo Macro
  • VR Global

MANAGEMENT FIRM OF THE YEAR

  • AKO Capital
  • Alcentra
  • Brevan Howard
  • LMR Partners
  • Selwood Asset Management
  • TT International

FUND OF THE YEAR

Nominees to be announced on the night…

 

EUROHEDGE AWARDS METHODOLOGY

As ever, the EuroHedge Awards are judged on an established quantitative methodology – based on a combination of Sharpe ratios and absolute returns – to identify the best risk-adjusted performance across a range of strategies and asset classes, with the aim being to let the numbers do the talking in order to select the nominees and the eventual winners.

The aim of the awards is to identify those funds and firms that have produced the best risk-adjusted returns for their investors – achieving the twin primary goals of hedge funds of capturing the upside in terms of strong absolute returns while also controlling volatility and protecting capital on the downside.

For all the main individual strategy award categories over the one-year period we have again decided to keep the minimum asset level at $100 million.

However, as part of our continuing effort to highlight the good performance among many smaller funds in the industry, we are also retaining the Emerging Manager & Smaller Fund category – for which the minimum asset threshold is set at a lower level.

These awards aim to recognise funds that are below the $100 million threshold and which do not quality as new funds, but whose performance would have earned them clear nominations in their respective categories if they had met the minimum size requirement.

For the New Fund of the Year award – which considers those funds with performance inception dates during the 12-month period between July 2017 and June 2018 – there is also a lower minimum asset level, reflecting the fact that many of these funds may only have been trading for a few months.

Because of the time period criteria, some new funds that launched in the second half of 2017 may also be considered for a New Fund award this year as well as for nominations in their relevant strategy group – while those newer funds that have started trading from July 2018 onwards will only be considered for awards in 2019.

For the main individual strategy categories, we are sticking with the same tried-and-tested methodology as in previous years – with nominations being identified from among the funds with the strongest Sharpe ratios among their peer groups (so long as they also exceed the median performance in that peer group); and with the winners being those funds with the highest returns (so long as they are within 25% of the top Sharpe ratio within their group).

In order to qualify for a nomination, a fund must also be within 10% of its high-water mark that was set before the start of this year – so that funds are not rewarded merely for recent good performance if they have not also substantially recouped losses from previous years.

For the Long Term Performance awards, which are judged over a five-year period and also (for the first time this year) a 10-year period, the minimum asset level is set at $500 million.

Finally, there are the awards for Management Firm of the Year (for which nominations are based on a quantitative system that ranks absolute and relative performance across a firm’s range of funds, together with other factors such as diversity of strategies and AUM growth, and for which the minimum asset size is $1 billion) and for the overall Fund of the Year.

For Fund of the Year, as is traditional, this award takes into account not only those funds that win the various individual categories, but also any others with exceptional returns – and the contenders will not be announced until the evening itself, not least so as to avoid pre-judging the winners in other categories.


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