Rewarding the best in 2008

Mon Dec 15, 2008

A host of leading managers gathered at the fourth annual Absolute Return Awards dinner to honor the year's outstanding performers.

Hundreds of the industry's elite players attended the 2008 Absolute Return Awards dinner in New York on November 18 as they took time to celebrate those that were able to deliver strong returns in a year that has been the most difficult ever for fund managers.

Paulson & Co. was the evening's big winner, as firm founder John Paulson took home three awards, including the prestigious Management Firm of the Year, which he won for the second year in a row. By anticipating problems in the credit markets early on and repositioning his portfolios to focus on short opportunities, Paulson's event-driven and distressed credit funds both racked up the best returns in their categories.

"Light will shine in this industry again," Paulson said in a pep talk to colleagues while accepting the management firm award. "There will be better times. So I encourage everyone that may not be doing as well...

ISSN: 2151-1845 / CDC10004H

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