DUBAI, 6 March 2008 — A wide range of hedge funds companies were honored for their contributions to alternative investing in the Gulf region.
The winners for the hedge funds awards were announced at a gala dinner at the Madinat Jumeirah Hotel on Tuesday that took place in concert with the Hedge Funds World Middle East Conference 2008, the largest event of its kind in the Gulf.
The awards, sponsored by Man Investments, the world’s largest provider of hedge fund products, are designed to recognize and celebrate companies and individuals who have demonstrated an unparalleled ability to succeed and continually set standards of excellence.
Matt Walhead of Terrapinn, which hosted the awards, said: “Hedge fund awards reflect the development of regional industry. Hedge funds are growing tremendously in the Gulf region. This year there were eight winners in different categories and we expect to increase more categories next year because of the success of the hedge fund industry in the region.”
Last year awards were given to six categories after introducing the awards for the first time.
The Dubai-based Rasmala won the Best New Fund Award, which was received by Khaled Masri, partner, asset management, Rasmala, from John Burbank, CIO & founder, Passport Capital.
The Bahrain-based INVESRCORP won two awards for Best Institutional Hedge Fund Manager and Special Merit Award.
The other awards were given to Apex Fund Services (Best Fund Administrator), Frontier Capital Management (Most Innovative Project), Dawnay Day Milroy (Best Retail Product Provider), EFG-Hermes (Best Newcomer) and Harris Alternatives (Best Fund of Fund). Antoine Massad, chief executive officer of Man Investments Middle East, said at the award ceremony that “all the winners and nominees deserve hearty congratulations for their achievements over the past year,” adding that, “we sponsor these awards because it is important to recognize excellence and to set a benchmark for other firms to follow and build upon if we are to develop a rich, diverse and strong local hedge fund industry.”