The Man Group, the investment banking company responsible for sponsoring the Booker Prize (which just went to Kiran Desai for THE INHERITANCE OF LOSS) is spreading its wings into Asia. The Man Asian Literary Prize, unveiled at the Hong Kong Book Fair, is "designed to bring Asian authors to the attention of the world literary community," according to a press release issued yesterday. Submissions for the prize will be accepted from November 1st this year with the winning author receiving worldwide recognition and a prize of $10,000. The first prize will be awarded in the autumn of 2007 for an "Asian novel as yet unpublished in English".

The judging panel recruited for the prize is rather impressive: CUNY Comparative Lit chair Andre Aciman, former Canadian Governor-General Adrienne Clarkson and Nicholas Jose, Chair of Creative Writing at the University of Adelaide, Australia.