Categories and Criteria
The With Intelligence HFM Asian Performance Awards shine a light on the industry's star risk-adjusted performers in 2023, across a range of categories.
Nominees and winners are determined objectively, using a combination of Sharpe ratios and absolute returns. This quantitative approach makes us the only awards to reflect the two primary aims of hedge funds – to manage volatility, and to deliver positive returns for investors.
To be included in the nomination process, funds must list their data on the HFM Database and have updated their figures for the performance period.
Long Term Performance Judging
The winners for the Long-Term Performance categories are then determined by a judging panel of industry investors who apply their professional expertise and knowledge to come to their decisions.
The categories will be based on a performance period of July 2020 - June 2023 for the 3 Year category, July 2018 - June 2023 for the 5 Year category and July 2013 - June 2023 for the 10 Year category.
2023 Categories Include:
Arbitrage (Arbitrage & Relative Value)
Arbitrage (Quant & Market Neutral)
Asia exc Japan
Asia inc Japan
Australia Equity
Best Macro (Above $500 million)
Best Macro (Below $500 million)
Best Managed Futures
Best Multi Strategy (Above $500 million)
Best Multi Strategy (Below $500 million)
Billion Dollar Fund of the Year
Chinese Equity
Commodities and FX
Credit & Specialist Finance
Digital Assets
Emerging Manager - Smaller Fund - Equity Strategies
Emerging Manager - Smaller Funds - Marco, Fixed Income & Relative Value
Equity Market Neutral & Quantitative Strategies
Event Driven & Distressed
Fixed Income
Fund of Hedge Funds
Fund of the Year
Global Equity (Above $500 million)
Global Equity (Below $500 million)
Indian Equity
Japanese Equity
Long Term - 3 Years
Long Term - 5 Years
Long Term - 10 Years
Management Firm of the Year
New Fund of the Year
Single Country
UCITS
Criteria in detail
- The With Intelligence HFM Asian Performance Awards are judged on a long-established methodology focusing on the risk-adjusted performance of funds, with our aim being to let the numbers do the talking.
- The shortlisted funds and eventual winners are decided by a quantitative process, which aims to recognise the two primary aims of hedge funds – to manage volatility and to deliver positive returns for investors.
- The full 12-month period for the Awards runs from June 2022 to the end of June 2023. For the one-year strategy categories, the minimum asset levels required to qualify for nominations remains $50m – with nominations being based on outright returns and Sharpe ratios over the 12-month judging period between.
- To qualify for consideration, funds must also achieve annualised returns higher than the median returns for their peer groups and they must be within 10% of their high-water marks that were set before the start of the 12-month period under review.
- The winners in the main strategy categories will be those funds which meet the relevant criteria and which achieve the highest returns – so long as they are within 25% of the best Sharpe ratios within their nominated peer groups.
- For the New Fund, Management Firm and Fund of the Year awards – which include funds and firms operating across different strategy areas – funds are judged on additional comparative criteria as well as absolute returns and Sharpe ratios.
- To be included in the nomination process, funds must list their data on the HFM Database and have updated their figures for the performance period. All funds that wish to be considered for the first round of nominations, must have updated their June performance data by 3 August 2023.
- The awards will release two rounds of nominations in July and August, with the final shortlist being announced in August.
- With Intelligence reserves the right to request additional information from funds in relation to their performance as part of the nomination process and winner determination
- With Intelligence reserves the right to remove any funds deemed inappropriate.