Parvus and GLG funds lead the winners at EuroHedge Awards


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Parvus and GLG funds lead the winners at EuroHedge Awards

  1. 1. Press Release Parvus and GLG funds lead the winners at EuroHedge Awards RAB Capital takes coveted Management Firm award (LONDON, 25th January 2006) Parvus European Absolute Opportunities, a long/short European equity fund run by former Mercury Asset Management/Merrill Lynch Investment Managers star Edoardo Mercadante, took the plaudits of the European hedge fund industry by winning the Fund of the Year award at the annual EuroHedge Awards, held on 25 January at the Grosvenor House Hotel in London. In doing so, Parvus became the successor to The Children’s Investment Fund, which was Fund of the Year in both of the previous two years at the EuroHedge Awards. Given that Parvus is an affiliate of TCI Fund Management, it also continues the TCI group’s remarkable run of successes at the awards. Other big winners on the year included the GLG Emerging Markets fund, which took away two prizes – for best New Fund of the Year in non-equity strategies, and also for best fund in High Yield, Emerging Markets & Distressed Debt – with a return of just under 60% for the year. The much-coveted Management Firm of the Year Award was won this time by RAB Capital, reflecting the London-listed firm’s tremendous success in achieving the highest weighted outperformance over the EuroHedge medians across its range of products, as well as the fastest rate of growth among the leading firms. Previous winners who took awards again included the Lansdowne UK fund in UK Equity and Gartmore’s European equity team, headed by Roger Guy and Guillaume Rambourg, who took an award for their AlphaGen Tucana fund in the category for big European equity funds with assets of over $500 million. An award for that category also went to Modulus Europe, which won in the Dollar class, while Tucana won in the Euro class. The Sark fund, managed by Boussard & Gavaudan Asset Management, took the award again for Convertibles & Equity Arbitrage. And Capital Fund Management,
  2. 2. based in Paris, which won two awards last year, took the award this time for Equity Market Neutral & Quantitative Strategies with its Ventus statistical arbitrage fund. While many other previous winners were nominated again, the other categories mostly had new winners this time. After several near misses in previous years, Winton Diversified was the winner in Managed Futures, while other awards were taken by firms including JP Morgan Asset Management, Morley Fund Management, TT Group and NewSmith Capital. Over 1,000 people attended the EuroHedge Awards dinner, including most of the leading managers and investors in the European hedge fund industry. The complete list of winners by category was: UK EQUITY Lansdowne UK SMALL CAPS Focus Capital Investors EUROPEAN EQUITY (under $500m) JPMF Europe Dynamic EUROPEAN EQUITY (over $500m) AlphaGen Tucana Modulus Europe GLOBAL EQUITY UC Financials EMERGING MARKET EQUITY UFG Russia Select EVENT DRIVEN TT Event Driven EQUITY MARKET NEUTRAL & QUANT STRATEGIES Ventus Statistical Arbitrage CONVERTIBLES & EQUITY ARBITRAGE Sark MIXED ARBITRAGE & MULTI-STRATEGY MKM Longboat Multi-Strategy FIXED INCOME Morley G7 Fixed Income CREDIT NewSmith European Credit SPECIALIST CREDIT NAC European Credit
  3. 3. HIGH YIELD, EMERGING MARKET & DISTRESSED DEBT GLG Emerging Markets MACRO Auriel Global Macro MANAGED FUTURES Winton Diversified NEW FUND OF THE YEAR - ARBITRAGE, RELATIVE VALUE & MACRO GLG Emerging Markets NEW FUND OF THE YEAR - EQUITY STRATEGIES Radar MANAGEMENT FIRM OF THE YEAR RAB Capital FUND OF THE YEAR Parvus European Absolute Opportunities Background & Decision Criteria To qualify, funds must submit their data to the EuroHedge database, which captures about 90% of all European funds. For the main categories, funds need to meet a minimum asset average of $200 million over the past 12 months, with the exception only of the Small Caps and Specialist Credit awards – where the minimum level is set at $100 million. The Sharpe Ratio is used to select the nominees. The best performer amongst the nominees then wins each award, providing the fund’s Sharpe Ratio is within 25% of the best Sharpe Ratio 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, do not lend themselves to a Sharpe Ratio comparison alone, so we use an array of other quantitative measures to decide these awards. ##ENDS## About EuroHedge and HedgeFund Intelligence EuroHedge 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 South African single managers as well as on hedge fund investors. For more information contact:
  4. 4. EuroHedge Nick Evans, editor Tel: +44 207 779 7355 Neil Wilson, Managing Editor, EuroHedge Tel: +44 20 7779 7359 Merlin Lachlan Johnston Angus Urquhart Tel: +44 20 7653 6620