Absolute Return Awards 2011

Bridgewater, Renaissance take top honors at AR Awards

Ray Dalio's Bridgewater won Management Firm of Year and Renaissance Institutional Equities Fund captured Fund of Year.
Ray Dalio's Bridgewater Associates was named Management Firm of the Year for the second consecutive year at the seventh annual AR Awards, held at the Mandarin Oriental in New York on Thursday to honor the U.S. hedge fund industry's top-performing managers.

Bridgewater's Pure Alpha Trading fund was named Global Macro Fund of the year.

The Renaissance Institutional Equities fund took the coveted Fund of the Year prize. Other winners of the seventeen awards handed out included York Capital Management for long-term performance, Brevan Howard Asset Management for its U.S.-focused Credit Catalysts fund, and Candlewood Group's structured credit fund for new fund of the year.

The winners were determined using an objective quantitative analysis of returns and Sharpe ratios measured for the 12-month period ending September 30. While there were several past nominees and winners represented at the awards, the market turmoil did disrupt some winning streaks, and for the first time in five years, Paulson & Co. did not earn any nominations.

Performance used to determine the winners was drawn primarily from the AR Database, which tracks more than 3,000 funds in the Americas. To ensure that all best-in-class funds were considered, AR also collected additional data from third-party sources. The evening was sponsored by BNY Mellon Alternative Investment Services, J.P. Morgan and Newedge.