Merger Arbitrage HFM Award Disclosure
HFM US Performance Awards 2020 are awarded annually and to be eligible for an award, funds entering any of the categories must apply and meet certain requirements. For funds entering any of the categories except the newcomer categories, these requirements include submitting a 3-year track record of monthly performance data through June 2020. Funds entering the long-term performance (5 years) categories must submit a 5-year track record of monthly performance data through June 2020. There were 3 funds shortlisted in the Merger Arbitrage category, 8 funds shortlisted in the US Equity Long-term performance (5 years) under $1bn category, and 6 funds shortlisted in the Event Driven under $1bn category. Judges focus on absolute performance as well as the 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.