Ermitage Wins Swiss Hedge Fund Award
Tuesday, November 15, 2011

Ermitage's European Absolute Fund has been voted 'Best Regional Focused Fund of Hedge Funds' (FoHF) over five years at the BANCO Swiss Hedge Funds 2011 Awards.

As well as winning the Best Regional Focused FoHF Five Year Award, Ermitage European Absolute Fund was also a finalist in the three-year category. Ermitage Global Long Short Fund was also shortlisted in the one-year and three-year categories for ‘Best Long/Short Global Fund of Hedge Funds’, and the Ermitage Global Multi Strategy Fund was a finalist for the ‘Best Multi-Strategy Global Fund of Hedge Funds’ in the one-year and three-year categories.

The winners were selected taking into account annual compound return and recovery time from maximum drawdowns, so that portfolios were recognised not only for their ability to achieve the best results over a given period (one, three and five years), but also for their prospects of maintaining their results.

Commenting on the award, Michael Howard, Head of Long Short Equity Strategies said:

“We are pleased to win an award over five years, a period which covers several contrasting phases of the market.”

“Ermitage builds portfolios for multiple scenarios using our proprietary software OPTICS. This allows the portfolio to be better prepared for changes in environment and also enables it to adapt to the prevailing market conditions. This proved particularly useful in preparing the portfolio for 2008 and more recently Q3 2011, allowing the European Absolute Fund to protect capital effectively. Since the Fund’s inception in December 1999 to September 2011, it has delivered an estimated 97.2% return, while the MSCI Europe Index is down -5% over the same period - achieved with less than a third of the Index’s volatility.”

BANCO is one of Switzerland’s leading media, providing regular coverage on hedge funds and recognising the best funds of hedge funds in the country each year.