TORONTO, Oct. 24, 2014 (GLOBE NEWSWIRE) -- Following a hedge fund conference in which some of Canada's most prominent and successful hedge fund managers participated, the 2014 Canadian Hedge Fund Awards were presented at One King West Hotel last night. The 2014 CHFAs were the 7th Annual Canadian Hedge Fund Awards, but this was the first time the awards were presented in conjunction with a high-level hedge fund conference.
Winners were recognized for performance to June 30, 2014 in 5 categories, with the Overall Best Canadian Hedge Fund (based on best combined 10 year return and Sharpe ratio) going to the Blair Franklin Global Credit Fund with a 10 year return of 14.1% and a Sharpe ratio of 2.6%.
Second and third place for Overall Best 2014 Canadian Hedge Fund went to the PH &N Absolute Return Fund (15.6% and 1.9%) and the King & Victoria Fund (18.9% and 1.2%) respectively.
Peter Hayes, Partner and National Director Alternative Investments at KPMG and the Awards Master of Ceremonies said "all Canadian Hedge Fund Award winners should be proud of this important recognition of consistent and strong performance."
Front Street Canadian Energy Resource Fund won the top award for best 1 year return in the Equity Focused category with a return of 98.2%. King & Victoria Fund was number one over 5 years in this category with a 36.4% average annual return and PH &N Absolute Return Fund took top honours in the Equity Focused category for best 5 year Sharpe ratio (3.6%).
In the Credit Focused category, the best 5 year Sharpe ratio award went to Blair Franklin Global Credit Fund (3.34%), while the Stornoway Recovery Fund took top spot for both the best 1 year return and the best 5 year return with 23.8% and 28.8% performance respectively.
In the Market Neutral category, the Picton Mahoney Market Neutral Equity Fund won for best 5 year return (5.1%) and for best 5 year Sharpe ratio (1.4%) while the CC &L Market Neutral Fund, with 20.1%, took home the top award for best 1 year return to June 30, 2014.
The DKAM Capital Ideas Fund from Donville Kent took the top award for all 3 measures in the Global Macro/Managed Futures/Multi Strategy category with a 1 year return of 51.2%, a 5 year return of 27.7%, and a 2.0% 5 year Sharpe ratio.
The 2014 CHFAs data collection and calculation was powered by Fundata, Canada's preeminent data distributor and investment fund data and analytics company.
Awards were also presented to those service providers that Canadian hedge fund managers voted most valuable to them: CommonWealth Fund Services received the award for the Best Canadian Hedge Fund Administrator, the Best Canadian Prime Broker award went to CIBC Prime Services Group, the Best Canadian Law Firm award went to Borden Ladner Gervais LLP and KPMG LLP was voted the Best Canadian Accounting Firm.
"Canada's hedge fund industry is expected to grow significantly as both institutional and individual investors increase their interest in alternative investments" said Margaret McNee, a Partner at the law firm McMillan LLP, a sponsor of the 2014 Canadian Hedge Fund Awards, "and we are committed to furthering the expansion of this exciting sector of Canada's investment industry." In addition to the principal sponsors, KPMG LLP and Fundata, other key sponsors this year were Investment Executive, CommonWealth Fund Services, and PricewaterhouseCoopers as well as McMillan LLP.
Prior to the Awards presentation, Canadian individual and institutional investors listened along with hedge fund managers to the insight and opinions of some of Canada's most successful investment managers and most discerning investors at a high level Canadian Hedge Fund Conference entitled 'Dispelling the Myths'. Vibrant debate on topics including "Investors' Views on Alternatives" and "Correcting Risk/Reward Misconceptions" engaged the audience with the only common denominator being the focus on attracting investors to the alternative investment solutions provided by Canada's brightest and best hedge funds.
About Alternative IQ: AIQ is a services company dedicated to celebrating, supporting and expanding Canada's Hedge Fund Industry. Alternative IQ is the producer of the Canadian Hedge Fund Awards, held in Toronto annually in October (performance as at June 30th), and the 'Hedge Fund Showcase' event in February featuring the Managers of the award-winning hedge funds of the previous year. AIQ is producing an increasing number of events, activities and publications to serve the hedge fund industry in Canada. For more information: www.alternativeiq.com
About the Annual Canadian Hedge Fund Awards: The Annual Canadian Hedge Fund Awards were first held in 2008. Originally hosted by the 'Hedge Fund Hotel', the objective of the annual gathering was two-fold: to celebrate the talent in the Canadian hedge fund industry and, secondly, to raise awareness of that expertise in the wider investor community.
Canada's Hedge Fund Industry Meets to Recognize its Brightest and Best
| Source: Alternative IQ