Salt Funds Management has held off seven Australian rivals to take out a top regional investment award in Hong Kong last week.
As reported last month, the Salt Long Short Fund was one of eight contenders in a group including Regal, Auscap, Antares as well as Perpetual and Pendal (the latter two now merged) in the Australasian shares category of the With Intelligence HFM Asian Performance Awards.
The Asia region hedge fund awards have been running in one form or another since 2004 with 26 categories for grabs in the November 9 event.
Based on short-term performance results, the short-lists and winners “are determined objectively, using a combination of Sharpe ratios and absolute returns,” the With Intelligence website says.
“This quantitative approach ensures the awards reflect the two primary aims of hedge funds – to manage volatility, and to deliver positive returns for investors.”
For the 12 months to the end of June this year (the period covered by the awards) the Salt Long Short strategy returned about 12.5 per cent versus the 50/50 NZX and ASX benchmark of 12.1 per cent and almost 3.5 per cent the cash plus 5 per cent target.
Greg McMaster, Salt head of client partnerships, said last month: “The Long Short fund has been a quiet achiever in the NZ market, delivering solid risk-adjusted returns since inception in 2014.”
Managed by Salt co-founder, Matthew Goodson, the long-short fund has about $77 million in assets, down from its historical high of more than $200 million.
Salt is also in the mix for a prize at the Research IP NZ fund manager of the year sector awards set down for this Wednesday (November 15).
As well as the sector categories (finalists listed below), the Australian research firm will also name overall winners for boutique, KiwiSaver and fund manager of the year as well as adviser- and investor-selected favourites.
Darren Howlin, Research IP founder, said in a release: “We believe our awards recognise the hard work of fund managers, bringing together the best of the investment management industry.”
Global Fixed Interest Fund of the Year
- Bentham Syndicated Loan Fund
- Colchester Emerging Markets Bond Fund
- Dimensional Five-Year Diversified FI NZD
- Milford Global Corporate Bond Fund
Australasian Fixed Interest Fund of the Year
- Daintree Core Income Trust (NZD)
- Daintree High Income Trust (NZD)
- Milford Cash Fund
- Nikko AM NZ Cash Fund
Global Property & Infrastructure Fund of the Year
- Maple-Brown Abbott Global Listed Infrastructure
Australasian Property Fund of the Year
- Alceon Australian Property
Alternatives Fund of the Year
- Janus Henderson Global Natural Resources
- Partners Group Global Value Fund
- Salt Long Short
- Schroder Specialist Private Equity Fund
Global Equities Fund of the Year
- Clarity Global Shares Fund
- Fairlight Global Small & Mid Cap Fund
- Schroder Global Recovery Fund
- SuperLife Europe Fund
Australian Equities Fund of the Year
- Airlie Australian Share
- Allan Gray Australia Equity Fund
- Octagon Australian Equities Fund
- QuayStreet Australian Equity Fund
Australasian Equities Fund of the Year
- Devon Alpha
- Milford Dynamic Fund
- Milford Trans-Tasman Equity Fund
- Pie Australasian Dividend Growth Fund
New Zealand Equities Fund of the Year
- Clarity New Zealand Equity Fund
- Kernel NZ 50 ESG Tilted Fund
- Nikko AM Core Equity
- Salt NZ Dividend Appreciation Fund
Diversified Fund of the Year
- Generate Focused Growth Managed Fund
- InvestNow Foundation Series Growth Fund
- Milford Active Growth Fund
- QuayStreet Growth Fund