Director of Basis Capital, Steve Howell, said the naming of the Aust-Rim Opportunity Fund as Hedge Fund of the Year last week was an “;honour”;, but that the sector itself deserved the wraps.

“;The sector in Australia now speaks for 200 strategies across 66 managers, with $50 billion all told under management, and much of that for overseas investors,”; Howell said. “;It’s nice for our fund to be recognised, but just to have been part of the growth and export success of the sector is a buzz.”; Basis Capital recently surpassed $1 billion under management, with about “;half a dozen”; institutional mandates around the $10-20 million mark, but also what Howell describes as “;real retail traction”; through wraps, principally those of Macquarie and BT. The Hedge Fund Awards were announced as part of the Hedge Fund Rocks charity night, which togtehr with the Hedge Fund Blue Book this year raised $455,000 for the Cure Our Kids cancer charity.