DALLAS, Sept. 18, 2023 /PRNewswire/ — NexPoint, a multibillion-dollar alternative investment firm, announced today that the NexPoint Merger Arbitrage Fund (the “Fund”) was recognized on the shortlist for the HFM U.S. Performance Awards 2023 for the fourth consecutive year.
The Fund was shortlisted in two categories:
- Event-Driven Over $1bn, where the Fund was one of four funds shortlisted.
- Best Merger Arbitrage, where the Fund was one of six funds shortlisted.
The complete list is available on the HFM Awards website: HFM U.S. Performance Awards 2023 Shortlist.
At last year’s awards, the Fund was shortlisted in the Event-Driven over $1bn, Best Merger Arbitrage, and Best 40 Act Fund. The Fund won the Event-Driven over $1bn award in 2022.
Now in the 17th year, the HFM U.S. Performance Awards recognize U.S. fund performance covering a range of fund strategies—from credit and equity to macro and managed futures.
The HFM U.S. Performance Awards 2023 categories were developed in consultation with the industry to ensure they were representative of the broad and fast-moving nature of the hedge fund sector. Eligible funds had to satisfy criteria such as base of operation in North America, monthly data submitted for their USD share class, submission of assets under management, and performance track record. The judging criteria were carefully considered and structured to result in funds across various strategies being recognized and rewarded for their high achievements.
This year’s HFM U.S. Performance Awards will take place on November 1, 2023 in New York. Winners of each category will be announced at the awards ceremony.
NexPoint is a multibillion-dollar alternative investment firm comprised of a group of investment advisers and sponsors, a broker-dealer, and a suite of related investment vehicles. NexPoint provides differentiated access to alternatives through a range of investment solutions, including public and private real estate investment trusts, tax-advantaged real estate vehicles, merger arbitrage and event driven strategies, other private real estate investments, closed-end funds, interval funds, and a business development company. NexPoint is based in Dallas, Texas and is part of a network of affiliates with expertise across the asset management and financial services spaces. For more information, visit nexpoint.com.
HFM US Performance Awards 2023 are awarded annually and to be eligible for an award, funds entering any of the categories must apply and meet certain requirements. Funds entering any of the categories except newcomer, ESG, best digital assets and alternative risk premia must submit a 3-year track record of monthly performance data through June 2023. Funds entering the newcomer categories must have a track record of monthly performance data of at least 12 months and less than 36 months (that is between 12 and 35 months) through June 2023. Funds entering the ESG, best digital assets and alternative risk premia categories must have a track record of monthly performance data of at least 12 months through June 2022. Funds entering the long-term performance (5 years) categories must submit a 5-year track record of monthly performance data through June 2023.There were 6 funds shortlisted in the Merger Arbitrage category and 4 funds shortlisted in the Event Driven over $1bn category. Judges focus on absolute performance as well as standard deviation of returns and outperformance of the relevant HFM benchmark. They also take into consideration the relative AUM, nature of the investment strategy, track-records, other supporting materials and professional knowledge they have about shortlisted funds to come to their decisions.
Prosek Partners for NexPoint