Awards Industry Analysis

Rewarding the best in 2009

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Fifth annual Absolute Return Awards dinner honors the year's outstanding performers.

By Katrina Dean Allen

Photographs by Doug Goodman

Hundreds of the industry's leading managers turned up in New York for the 2009 Absolute Return Awards dinner on November 2 to honor those firms that delivered the best risk-adjusted returns over the past 12 months, including 2008's tumultuous fourth quarter—one of the most trying times ever for hedge fund managers.

The calendar year 2009 had been a much better one for hedge funds, and the mood of the evening was much lighter than that at the more somber event held in 2008 at