The race is for novice hurdlers, and it is scheduled to take place each year during the Cheltenham Festival in March.
This association continued until 2006, and for the following three years the event was backed by Ballymore Properties.
A new sponsor, Neptune Investment Management, began supporting the race in 2010.
The registered (non-sponsored) title of the race is now the Baring Bingham Novices' Hurdle.
This is in honour of Baring Bingham, a developer who purchased Prestbury Park in 1898, and organised the first Cheltenham Festival in 1902.