Top performers vie for this year's Absolute Return Awards.
Crippling losses in last year's fourth quarter, followed by big gains this spring and unprecedented government intervention in the capital markets, has made for a tricky environment for many U.S. hedge funds. Yet as the early contenders for the 2009 Absolute Return Awards show, there has been plenty of room for the very best funds to produce profits. This year's awards, Absolute Return's fifth annual, will be presented at a black-tie dinner on November 2, at 583 Park Avenue in New York City.
No fewer than eight of the funds in the running—Balestra Capital Partners, BlackRock Health Sciences,