Hedge Funds Review announces winners of 8th European Performance Awards

Date: Thursday, June 12, 2008
Author: Hedge Funds Review

Hedge Funds Review announces winners of 8th European Performance Awards 2008:

Hedge Funds Review, the premier publication for the global hedge fund industry, has announced the winners for its Eighth European Performance Awards 2008. The awards covered 18 categories highlighting the best single funds using a wide range of strategies.

Awards recognised best performance over time, innovation and the best overall fund management company. Michael Platt, co-founder of BlueCrest Capital, a U.K. hedge fund group, was honoured for his outstanding contribution to the European single hedge fund management industry.

The prestigious awards ceremony was held on June 11 at the Grosvenor House Hotel in London and was attended by 300 of the most talented and successful hedge fund personnel in Europe.

Funds were ranked based on their returns, Sharpe ratio and returns over drawdowns. In addition the judges drew upon their own extensive knowledge of the industry while discussing the contenders. Other fund information included statistics on volatility, maximum drawdown and downside volatility.

Unlike other awards, Hedge Funds Review recognises that good hedge fund investments are never based solely on past performance. Therefore, the selection was not purely a quantitative analysis but based on the considerable experience and expertise of the judges whose teams have conducted due diligence on many of the funds that were considered.

To ensure consideration from the perspective of every type of hedge fund investor, the judges were selected from a wide variety of investor/advisor companies including private banks, family offices, funds of funds and pension funds.

Profiles for the winners and highly commended funds as well as for the judging panel are available on the Hedge Funds Review website (www.hedgefundsreview.com/winners).

The categories, winners and highly commended funds are listed below. The management company running the fund is in brackets following the name of the fund.

Best Fixed Income Hedge Fund on a Risk Adjusted Basis
Winner: Morley G7 Fixed Income Fund (EUR) (Morley Fund Management Ltd)
Highly commended: Hillside Apex Fund Segregated Portfolio (USD) (Thames River Capital LLP); JB Global Rates Hedge Fund - USD (Augustus Asset Managers); The Argo Fund (Argo Capital Management)

Best Emerging Markets Hedge Fund on a Risk Adjusted Basis
Winner: The Nevsky Fund (USD) (Nevsky Capital LLP)
Highly commended: Explorer Emerging Europe Fund (Explorer Capital Partners LLP); OCCO Eastern European Fund (Charlemagne Capital (UK)); RP Explorer Fund (RP Capital UK)

Best Long/Short Hedge Fund on a Risk Adjusted Basis
Winner: Odey European (EUR) (Odey Asset Management LLP)
Highly commended: AlphaGen Tenro Fund — Class A USD (Gartmore Investment); Explorer Emerging Europe Fund (Explorer Capital Partners LLP); Meditor European HF (Meditor Capital Management); Resolution Cartesian UK Equity Long Short Fund — GBP (Cartesian Capital Partners)

Best Equity Market Neutral Hedge Fund on a Risk Adjusted Basis
Winner: Sabre Style Arbitrage Fund — USD (Sabre Fund Management)
Highly commended: AlphaGen EtaCas Fund - Class A USD (Gartmore Investment); The Mariner Fund (Mariner Capital Partners LLP); NYLIM European Equity Market Neutral Fund LP (New York Life Investment Management LLC); Pioneer Long/Short European Equity (EUR) (Pioneer Alternative Investment Management)

Best Managed Futures Hedge Fund on a Risk Adjusted Basis
Winner: Amplitude Dynamic Trading Fund C Class (Amplitude Capital LLP)
Highly commended: BlueTrend Fund (BlueCrest Capital Management); Tulip Trend Fund - Class A EUR (Progressive Capital Partners); Winton Futures Fund (Winton Capital Management)

Best Global Macro Hedge Fund on a Risk Adjusted Basis
Winner: Brevan Howard Master Fund (Brevan Howard)
Highly commended: M&G Episode (M&G Investments); Polar Capital Discovery Fund - USD (Polar Capital LLP)

Best Convertible Bond Arbitrage Hedge Fund on a Risk Adjusted Basis
Winner: Maple Leaf Macro Volatility Fund – USD (Maple Leaf Capital)

Best Multi-Strategy Hedge Fund on a Risk Adjusted Basis
Winner: Trafalgar Multistrategy Fund (Trafalgar Asset Managers)

Best Energy Hedge Fund on a Risk Adjusted Basis
Winner: Oceanic Hedge Fund (Tufton Oceanic)
Highly commended: BlackRock Natural Resources Hedge Fund — USD (BlackRock Investment Management (UK)); Ecofin Special Situations Utilities Fund (Ecofin); Wessex Natural Resource Fund (Wessex Asset Management)

Award for Innovation in European Hedge Funds
Winner: Iceberg Alternative Real Estate II Fund (REECH CBRE Alternative Real Estate)

Best Event Driven Hedge Fund on a Risk Adjusted Basis
Winner: Altima Global Special Situations Fund - USD (Altima Partners LLP)
Highly commended: Argo Global Special Situations Fund (Argo Capital Management); Coriolis CaTpricorn Fund (Coriolis Capital); Prosperity Quest Fund (Prosperity Capital Management (Sweden) AB). Trafalgar Catalyst Fund (Trafalgar Asset Managers)

Best Sub $50m Hedge Fund on a Risk Adjusted Basis
Winnner: Range Maritime Fund (Range Capital)
Highly commended: Polar Capital Global Utilities Absolute Return Fund - USD (Polar Capital LLP) SVM Saltire Fund (EUR) (SVM) The Cambridge Strategy — Asian Markets Alpha (The Cambridge Strategy (Asset Management))

Best Newcomer
Winner: Investcorp Stoneworks Global Macro Fund (Investcorp Investment Advisors)
Highly commended: GAM Frontier Opportunities Equity Hedge — USD Open (GAM London); Halbis India Alpha Fund — USD (HSBC Investments (Singapore))

Best Hedge Fund over 10 Years on a Risk Adjusted Basis
Winner: Winton Futures Fund (Winton Capital Management)
Highly commended: Man AHL Alpha (Man Investments/AHL)

Best Hedge Fund over Three Years on a Risk Adjusted Basis
Winner: The Nevsky Fund (USD) (Nevsky Capital LLP)
Highly commended: Lionhart Aurora Fund SPC - Venture Segregated Portfolio - Class A (Lionhart Investments); Prosperity Quest Fund (Prosperity Capital Management (Sweden) AB); The Children's Investment Master Fund (TCI)

Best Hedge Fund over One Year on a Risk Adjusted Basis
This award was chosen by the Hedge Funds Review team, rather than the judging panel.
Winner: Altima Global Special Situations Fund — USD (Altima Partners LLP)
Highly commended: Brevan Howard Master Fund (Brevan Howard); Lionhart Aurora Fund SPC — Venture Segregated Portfolio - Class A (Lionhart Investments); Meditor European HF (Meditor Capital Management); Odey European (EUR) (Odey Asset Management LLP); Tulip Trend Fund — Class A EUR (Progressive Capital Partners)

Best Overall Group
Winner: Ecofin
Highly commended: Brevan Howard and TCI

Contribution to the European single hedge fund management industry
Michael Platt, co-founder of BlueCrest Capital

Judging panel
Roger Bacon, head of hedge fund business, UBP
Chris Jones, chief investment officer, Key Asset Management
Phil Irvine, director, head of advisory services, Liability Solutions
Henry Lee, director, head of hedge fund advisory, UK, HSBC Private Bank
Tushar Patel, chief investment officer, managing director, Hedge Fund Investment Management