The Asian Literary Prize is on the lookout for a new sponsor as Man Group plc, also the sponsor of the Booker Prize, is to cease its funding.
Man will withdraw its sponsorship after the award of this year's prize in March 2013.
Professor David Parker, executive director of the prize, said today: "I would like to thank Man Group for the steady support that has enabled the prize, in five short years, to achieve more than any of us would have dreamed possible. I would also like to thank the publishers, writers and readers who have responded with such enthusiasm to our efforts to win greater visibility for new Asian writing."
He added: "We look forward to the future with a new partner, confident that Asian fiction is now beginning to secure the global readership and recognition it deserves."
Peter Clarke, Man Group c.e.o., said: “Man is proud to have been involved in
raising the profile of both Asian fiction and the prize itself over the past five years as the
founding sponsor. We are committed to supporting the prize organisers in finding a new
sponsor to ensure the continued development of this leading literary prize.”
Parker said that he was "beginning talks with potential sponsors".
The longlist for the final Man Asian Literary Prize will be released on 4th December.