Eight hedge funds were last night named winners at the Hedge Funds Rock & the Australian Hedge Fund Awards in Sydney, with the Ellerston Australian Market Neutral Fund taking home the 2015 Australian Hedge Fund of the Year award.
Others winners included the AQR Wholesale Managed Future Fund, Laminar Credit Opportunities Fund, AMP Super Easy Alternatives Fund, Qato Capital Market Neutral Long/Short Fund, and Henderson Global Investors Australia.
The Ellerston fund was rewarded for its "outstanding" performance, according to a statement by the Hedge Funds Rock & the Australian Hedge Fund Awards.
Hedge Funds Rock co-founder and president Kim Ivey said the hedge funds' attention to risk management and capital preservation "are in demand by investors of all types".
"Good risk managers, particularly smaller, nimble hedge fund managers have the capability to implement their investment decisions very efficiently. They are being picked for their skills by investors who in aggregate are increasing their allocation to hedge funds," he said.
"These investors include platforms and wraps in the retail financial services sector, as well as family offices that are ramping up their in-house capabilities to invest directly in hedge funds that offer a wide choice of investment styles."
Mr Ivey added that this year has been challenging for the hedge fund industry.
"One aspect which is heartening to see is the increased focus on manager due diligence that has increased dramatically post the GFC," he said.
"All funds now have to work in the new regime where a large amount of data is available to investors and their advisers. Not just the investment information, but also staff and operating data. It is a welcome trend towards transparency and proactive disclosures, which bodes well for the long-term health of the industry."
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