AIMA

The Alternative Investment Management Association

Alternative Investment Management Association Representing the global hedge fund industry

AIMA Singapore / INSEAD Research Award Winner Announced

28 November 2006

Singapore, 28 November 2006: AIMA INSEAD Research Award for Asian Alternative Investments won by Singapore-based researcher from SMU - Assistant Professor Melvyn Teo.

The Chartered Alternative Investment Analyst (CAIA) Association sponsors AIMA Singapore and INSEAD Asia Pacific Institute of Finance’s Award for Research Excellence on Alternative Investments and Hedge Funds in Asia.

The Alternative Investment Management Association (AIMA) Singapore Chapter and INSEAD’s Asia Pacific Institute of Finance (APIF) will present this award, designed to encourage high level applied research into the alternative investment and hedge fund industry in Asia at 6pm, at the INSEAD Asia Campus Auditorium at 1 Ayer Rajah Avenue, Singapore.

The inaugural winner is Assistant Professor Melvyn Teo of Singapore Management University’s Finance faculty. His winning paper is entitled “the Geography of Hedge Funds”, based on research done between January and May 2006, in Singapore. The paper analyses the relationship between the risk-adjusted performance of hedge funds, and their proximity to their investments, using data on Asian hedge funds. It finds that funds with a physical presence (head or research office) in their investment region outperform other funds 5.5 percent per year. The local information advantage is especially pervasive for emerging market and event driven funds. 

The winner prize of US$10,000 for Assistant Professor Teo will also include publication on both the CAIA Association (www.caia.org) and AIMA global (www.aima.org) websites.

This award has been judged by a distinguished international research panel comprising:

  • Stephen Diggle, Principal of Artradis Fund Management Pte Ltd
  • Peter Douglas, AIMA Council Member for Singapore
  • Pierre Hillion, de Picciotto Chaired Professor of Alternative Investments, and Professor of Finance, INSEAD
  • Thomas Schneeweis, Director of the Centre for International Securities and Derivatives Markets

Many entries were submitted from academics, students and practitioners from Singapore or those who have conducted research in Singapore. The 2006 Research Award is a key part of a collective effort to stimulate technical innovation and increase understanding of the rapidly growing financial marketplace in Singapore and throughout Asia.

This project unites the Singapore Chapter of the AIMA, a not-for-profit trade association focusing on education, transparency and regulation of alternative investments, with INSEAD APIF, the leader in Asian executive education and Asia-relevant research in finance, and the CAIA Association, a global professional chartering organization dedicated to forwarding alternative investment education.

APIF recognises that Alternative Investments are an increasingly important part of Asian finance,” says Professor Pierre Hillion, the de Picciotto Chaired Professor of Alternative Investments at INSEAD. “We are fully committed to encouraging bright minds and helping to develop new thought leaders to address present challenges and create new innovations for the future.”

- Ends –

Editors’ Notes

1. Media Queries

INSEAD
Adrian Wee, Media Relations, Asia Campus
Tel: +65 6799 5388 DID: +65 6799 5280, Email: adrian.wee@insead.edu

Alternative Investment Management Association (AIMA) Singapore Chapter
Peter Douglas, AIMA Council Member in Singapore
Tel: +65 6222 3904, Email: douglas@aima.org

Asia Pacific Institute of Finance (APIF)
Magdalene Khng, Assistant Manager , Asia Campus
Tel: +65 6799 5271, Email: magdalene.khng@insead.edu

Chartered Alternative Investment Analyst Association (CAIA)
Justin Perras, Dukas Public Relations
Tel : +1 212 704 738 5, Email :Justin@dukaspr.com

2. About AIMA (Singapore)
As the only truly representative global hedge fund association, AIMA, the Alternative
Investment Management Association, has 1100 corporate members worldwide, based in 47
countries.

Members include leading hedge fund managers, fund of hedge funds managers, prime brokers, legal and accounting services and fund administrators. They all benefit from AIMA’s active influence in policy development, its leadership in industry initiatives, including education and sound practice manuals and its excellent reputation with regulators, worldwide.

AIMA is a dynamic organisation that reflects its membership and provides them with a vibrant global network.

AIMA is committed to developing industry skills and education standards and is a founder of the Chartered Alternative Investment Analyst designation, or CAIA – the industry’s first and only specialised educational standard for alternative investment specialists.

For further information, please visit AIMA’s website www.aima.org.
Chairman, AIMA Singapore Chapter: Mr. Peter Douglas
Email: douglas@aima.org
Office No: +65 6222 3913

3. About INSEAD
As one of the world’s leading and largest graduate business schools, INSEAD brings together people, cultures and ideas from around the world to change lives and transform organizations. The unique global perspective and multicultural diversity of INSEAD are reflected in all aspects of its research and teaching. Currently, at the school’s two comprehensive and fully connected campuses in Asia (Singapore) and Europe (France), 143 renowned faculty members from 31 countries inspire more than 880 MBA participants, 56 executive MBAs, over 7,000 executives and 74 PhD candidates. On both campuses, faculty conduct leading edge research projects with the support of 17 Centres of Excellence. The INSEAD-Wharton Alliance extends the reach of INSEAD business education and research across three continents.

4. Asia Pacific Institute of Finance, APIF (www.insead.edu.sg/AsiaFinance)
Formed in 2004 with the support of the Monetary Authority of Singapore, APIF has rapidly grown to become the acknowledged centre of excellence in Finance at INSEAD. APIF’s objective is to provide financial education and research with a clear focus on Asia within a global context and maintain a strong reputation for providing innovative education in the Asia Pacific region. APIF focuses on strengthening the leadership capacity of financial executives, creation of specific financial research by drawing upon INSEAD’s finance faculty and enhancement of skills and capabilities of financial professionals in Asia
For further information, please visit INSEAD’s website www.insead.edu.
Programme Director of APIF: Professor Claudia Zeisberger
Email: Claudia.zeisberger@insead.edu
Office No: +65 6799 5487

5. About CAIA
The Chartered Alternative Investment Analyst Association® is an independent, not-for-profit global organization committed to education and professionalism in the field of alternative investments. Founded in 2002 by the Alternative Investment Management Association (AIMA) and the Center for International Securities and Derivatives Markets (CISDM), the Association is the sponsoring body for the CAIA designation. Recognized globally, the designation certifies one’s mastery of the concepts, tools and practices essential for understanding alternative investments and promotes adherence to high standards of professional conduct. The mission of the CAIA Association is to: provide our members with a comprehensive foundation of knowledge of alternative investments; advocate for high standards of professional conduct; establish the Chartered Alternative Investment AnalystSM designation as the educational standard for the alternative investment industry; promote professional development through ongoing education; and facilitate communication amongst industry professionals.
For further information, please visit CAIA’s website www.caia.org.
Executive Director: Mr. Craig Asche
Email: info@caia.org
Office No: +1 413 253 7373
 

 
 
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