Lipper's first Hedge Fund Award winners were announced yesterday, over 3,600 funds were eligible for the eighteen awards across the European and Offshore fund domiciles.

A total of fifteen portfolio managers were rewarded, with thalia SA, Gems Management and UG Investment Advisers each winning in two categories. The calculation period for the awards extended over twelve consecutive months ending 31 December 2007.

Lipper is a wholly-owned subsidiary of Reuters. Covering over 172,000 share classes and over 95,000 funds in 53 registered for sale (RFS) universes. For a list of the winners, see; www.lipperweb.com