The BANCO Swiss Hedge Fund Awards 

OFFICIAL RULES AS OF 22.11.2018

The BANCO Swiss Hedge Funds Awards (the “BANCOawards”) are designed to reward the best Single Hedge Funds and Funds of Hedge Funds (the “Funds”) offered to institutional investors in Switzerland. 

 

Are you among the next winners? Enter today and compete in the first Hedge Funds Awards in Switzerland and one of the very few awards of this kind worldwide to rely on both a quantitative screening and a qualitative assessment by a jury.

 

1. ELIGIBILITY

The universe of eligible funds is defined as Single Hedge Funds or Funds of Hedge Funds which are either:

 

  • registered with FINMA (Swiss Financial Market Supervisory Authority)

  • restricted to qualified investors, or

  • whose promoter or fund manager is active in Switzerland*

  • with offices in Switzerland and/or other funds registrated with FINMA

 

2. APPLICATION PROCESS 

Step 1

A Registration Form is necessary to be part of the process. It can be requested by email or be found here.

 

  • Each Entrant must submit a fully completed Registration Form which shall include the following:

    • contact details of accredited interlocutors: 2 contacts for data requests and 1 contact for the marketing department. 

    • the list of competing funds with the related information: ISIN Code, Fund name, Currency, Type of fund, FINMA Status, Inception date, Category (only one per each fund) and Assets Under Management held on 31 December of the previous year. Additional comments and remarks about the funds are welcome. 

    • Only fully completed Registration Forms are eligible.

 

  • By completing and returning the Registration Form, each Entrant certifies and agrees with the following:

  1. The Registration Form has been handled and completed by a person who is duly authorized to represent the Entrant in the context of the BANCOawards.

  2. The Entrant agrees to compete for the BANCOawards.

  3. The Entrant has read and agrees to the present Official Rules.

  4. All the information given in the Registration Form and on the page named “List of Funds” is complete and correct.

 

During this process, the Organizer may ask participants to send additional data regarding their funds.

The completion of Step 1 is mandatory to access the following steps.

 

Step 2

Each Entrant who submitted a fully completed Registration Form will receive an email from the Organizer requesting the following documents and information:

  • the Annual Report for the year ended December, 31  of the previous year (in PDF format).

  • the full list of positions (in PDF format). The pages in the aforementioned Annual Report containing the full list of positions must be copied and sent as a separate PDF.

 

Step 3

Each Entrant who submitted the Annual Report and the full list of positions will receive an email from the Organizer:

  • requesting the latest Prospectus of each of the competing funds

  • containing an ad-hoc NAV reporting Form to be completed with the historical monthly NAV of each of the competing funds, from the funds’ inception date to end of May of the current year

 

Step 4 

Each Entrant who submitted the latest Prospectus and the historical monthly NAV (up to end of May of the current year) will receive an email from the Organizer requesting the following document and information:

  • Latest monthly NAV as of end of June of the current year

  • Twelve latest monthly factsheets, from July of the previous year to June of the current year

 

Step 5 

Inscription to the BANCOawards gala ceremony (not compulsory, but strongly recommanded, as the trophees will not be sent by post to absent winners).

 

For information about the deadlines, please click here. Funds whose promoters did not deliver all of the above mentionned documents and information will not be qualified.

 

Grounds for Disqualification

Should any Entrant fail to return documents requested by the Organizer within the time-frame and/or manner communicated by the Organizer, such Entrant may be disqualified in the Organizer’s sole discretion. 

Should any Entrant give false or incorrect information, mixed or misplaced datas, such Entrant may be disqualified in the Organizer’s sole discretion. 

The Organizer is not bound to communicate about the disqualification decisions.

 

3. METHODOLOGY

The prizes granted by the BANCOawards are based on data ending in June and are awarded to the best Single Hedge Funds and Funds of Hedge Funds over 1, 3, 5 and 10 years.

 

Periods

The periods covered by the current BANCOawards are available here.

 

Universe & Categories

  • The funds are divided into two groups: the Single Hedge Funds, on the one hand, and the Funds of Hedge Funds, on the other hand.

  • The funds are classified into categories according to strategies, styles and regions.

  • The categories must have at least 10 comparable funds to be considered over a given period.

  • Smaller categories (with less than 10 comparable funds) may be merged into one mixed category called “niche category”. 

 

Quantitative screening

  • Funds belonging to the same categories are measured and compared according to a score based on 3 criterias over the periods considered:

    • annual compound return

    • largest drawdown

    • time to recovery

    • Funds denominated in various currencies or classes are considered as one product, the fund achieving the best score being retained.

    • The nominees in each category are the 5 funds that: 

    • were ranked best among their peers,

    • provided information with full transparency and have returned the requested information in due time.

 

  • met all criteria of good faith and diligence set by the Jury of the BANCO Swiss Hedge Funds Awards.

 

Qualitative screening

  • The Jury is composed of at least five experts from various sectors in or around the alternative industry (fund selection, fund administration, advisory services, pension fund management, etc. ) chaired by a member of BANCO’s editorial team. In case of a tie, the Chairman holds the deciding vote. The composition of the Jury is available here

  • The documents examined by the Jury are:

    • the prospectus

    • the latest audited annual report with the complete list of positions

    • the 12 latest monthly factsheets

    • the historical NAV’s

  • Compliance with the deadlines, transparency and adequacy of the reporting, promptness and quality of the answers are taken into account, especially in contentious cases (such as competing portfolios with comparable qualities).

  • Based on the available information and data, the Jury deliberates during a one-day session to choose the best fund in each category, aiming to select those with the best prospects of maintaining their results.

  • Should there be a niche category, it would be up to the Jury to do the most relevant choice among the different nominees, according to institutional investors’ expectations.

  • All decisions by the Organizer and the Jury related to the BANCOawards are final and binding. 

 

Notification of Winners 

Winners will be notified during the BANCOawards ceremony and the list will be published on the www.bancoawards.com website shortly after the ceremony. In each Category, the Winning Fund will be awarded a trophee, a certificate and an icon to showcase its achievement in print ads, marketing collateral and websites.

 

4. DISCLOSURE AND 

CONFIDENTIALITY RULES 

All information disclosed by or on behalf of the Entrant shall be deemed Confidential Information, except if the information is or becomes part of the public domain. Entrants acknowledge that the Organizer may disclose and transfer any information provided by the Entrants (i) to any person within the Organizer’s company involved in the organisation of the BANCOawards; (ii) to the members of the Jury; or (iii) if the Organizer is compelled to disclose such information by law. The Organizer and the members of the Jury shall only use the Confidential Information for the limited purpose of the BANCOawards and shall not use the Confidential Information for any other purpose. The Organizer undertakes to ensure that all the persons who become in possession of Confidential Information are informed of the provisions of these Official Rules and comply with the obligations contained therein. The Organizer undertakes to keep strictly confidential all Confidential Information disclosed by or on behalf of the Entrants, and to apply no lesser security measures and degree of care in relation to the Confidential Information than those applied to its own confidential information and which the Organizer warrants as being adequate protection of the Confidential Information from unauthorised disclosure, copying or use. 

 

5. ADDITIONAL TERMS  

These official rules are subject to change without notice in the Organizer’s sole discretion. 

 

6. LEGAL FOR

For any litigation in respect of the present Official Rules which cannot be settled amicably, the parties acknowledge the exclusive competence of the courts of the Canton of Vaud.

Rewarding the best hedge funds and funds of hedge funds in Switzerland since 2006

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