Hedge fund of the year - BlueCrest Capital Management

Last year got off to a terrible start for the hedge fund sector. With many hedge funds reporting dreadful performance figures in 2008, investor redemptions had started to pick up pace. However, the discovery of a massive $65 billion fraud by New York broker and investment manager Bernard Madoff in December 2008 sent investors rushing for the exits, triggering one of the largest waves of redemption requests ever seen.

Many hedge funds reacted by gating funds and hastily modifying liquidity and re