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A committee of industry analysts is assembled annually to choose the winners. These awards are not based on submissions.
Four awards in this category:
- Multi-Strategy Fund and Fund of Hedge Funds Award: Rewards the multi-strategy fund or fund of hedge funds that has exhibited the best risk-adjusted behavior over its track record, as determined by comparative analysis within its peer group.
- Directional Hedge Fund Award: Rewards the Canadian directional hedge fund that has exhibited superior risk-adjusted behavior over its track record, as determined by comparative analysis within its peer group.
- Relative Value Hedge Fund Award: Rewards the Canadian relative value hedge fund that has exhibited superior risk-adjusted performance, as determined by comparative analysis within its peer group.
- Newcomer Hedge Fund Award: Rewards a fund, across all hedge fund categories, that has exhibited superior performance for a fund with a minimum 1-year and less than a 3-year track record.
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| Awards Process/Criteria |
- Focus on long term performance
- Solid track record and risk-adjusted performance
- Style consistency, with little or no style drift
- Consistency in strategy, purpose and market presence
- Ability to deal with both positive and adverse market episodes
- Funds require a minimum 3-year track record (Best Newcomer is exception)
- All returns are as at end of September 30
- Fund headquartered in Canada
- Funds are analyzed by the Hedge Funds award Committee both from a quantitative and a qualitative viewpoint. Funds are analyzed within their respective categories on a relative merit basis. There is no obligation to the Committee to confer an award if none is deemed worthy of an award.
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| Eligibility
Requirements |
- Have a minimum three year performance history ending September 30 (with the exception of the Newcomer Hedge Fund Award that requires a minimum 1-year track record, but less then 3 years)
- Have had a consistent investment objective over the period of evaluation
- Be broadly available
- Must have reported quantitative data
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| Analytical
Guidelines |
| When nominating funds, or making a final selection, each committee member considered the following issues. It is important to note that these were guidelines only and each committee member could consider relevant issues that were not listed and weigh the following issues as they saw fit. While we want to maintain the highest standards of analytical rigour, it is equally important to allow for differences of opinion and multiple perspectives within a sound analytical framework.
What the judges are looking for:
Quantitative Considerations:
- Absolute performance
- Relative Performance
- Risk/return profile (relative to benchmark or peer group)
Qualitative Considerations:
- Style Consistency
- Management Tenure
- Management Quality
- Fund availability
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