The Culross Global Fund and the Culross H Fund have received awards as a top ranked Fund of Funds based on its 3 year performance by Portfolio Adviser magazine.

Methodology

Using data from Morningstar – a database of over 4,000 Fund of Funds, Portfolio Adviser took the top 10 ranked Funds and presented them to the judging panel.

The judges were then asked to nominate 3 Funds where they would invest their own money as well as that of their clients if investing today. Portfolio Adviser collated these results, awarding one Winner and 2 Highly Commended.

• The Culross Global Fund was announced as the overall winner.
• The Culross H Fund received a highly commended.

The Culross H Fund was shortlisted in the ‘Best Fund of Funds Newcomer’ category at the HFMWeek European Awards 2008.

The Culross H Fund has been awarded ‘Best performing diversified fund of hedge funds over 1 year on a risk/return basis’ at the 2007 Hedge Fund Review Awards held on the 14th November 2007.

About the awards

The Hedge Funds Review™ awards are the most sought after accolades in the industry. The hedge fund investment process relies on more than just numbers and our judging process recognises this. The European Fund of Hedge Fund Awards remain the only signature event held exclusively for the European fund of hedge fund sector and as such continue to attract the top names from the industry.

Chaired by the Editor and Alternatives Journalist of the Year 2007, David Walker, the judging panel is impartial and unbiased and seek to reward genuine performance and success. Previous recipients of these awards have seen as much as a 10 fold increase in their AUM in the 12 months after winning – making the shortlist alone guarantees managers increased awareness in the investor community and an enhanced reputation.

Methodology

The judging process begins by running a screen across all entrants, selecting managers with a significant European presence, typically some investment or due diligence function.

For 1 year awards the period under consideration is July 1st 2006 – June 30th 2007

Each fund of hedge funds is ranked against its peers by its annualised return, its Sharpe ratio and its annualised return over its worst month, for the relevant period. These three rankings are added to produce an aggregate ranking and a long-list. Other metrics such as volatility, total return, percentage of positive and negative months and age and size of fund are also generated.

The judges then discuss the various merits of the funds, from both a qualitative and quantitative perspective. Whether groups are of a sound basis and expert management that could be expected to continue producing, are also taken into account and a shortlist is drawn up, typically of around six names. From this a winner is chosen