Hedge Fund Derivatives House of the Year - Deutsche Bank

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By anyone's standards, hedge funds have had a bad year. Erratic market conditions across all asset classes have shorn returns, humbling many of the world's biggest and most prestigious fund managers. The HFRI Fund Weighted Composite Index, compiled by Chicago-based Hedge Fund Research, was down 18.18% in the year to December 15, with the HFRI Emerging Markets (Total) Index down 36.21% and the HFRI RV Fixed Income - Convertible Arbitrage Index falling 35.50%.

Poor performances have been met with