Hedge Fund of the Year - Brevan Howard Asset Management

Most hedge funds will be glad to see the back of 2008. The past year has seen even the most consistent strategies and fund managers reeling from hefty losses, as rampant volatility and a dearth of liquidity took their toll. The Credit/Suisse Tremont Index, an asset-weighted benchmark of hedge fund performance, was down 19.04% in the year to the end of November, with the convertible arbitrage index dropping a staggering 30.92%.

Given the difficulties experienced by virtually all trading