Lanterne Strategic Investors Arran Fund has won the award of best long short and absolute return fund at the fifth annual Australian Hedge Fund Industry Awards ceremony.

Winners were judged by an independent group of hedge fund researchers, using a combination of quantitative and qualitative factors which were supplied by Hatfied Advisors and Petrac Financial Solutions. 

Manager performance was measured using judging criteria devised to assess how Australian absolute return managers were able to meet their investment objectives and adapt to changing investment environments.
 
Other winners were Fortitude Capital Absolute Return Trust (best market neutral fund and Australian hedge fund of the year); BlackRock Asset Allocation Alpha Fund – Class D (best global macro/futures fund); Apeiron Global Macro Fund (best emerging manager); SunSuper (best investor supporting Australian managers); and FRM Sigman Fund PCC (best fund of fund 2009).

The awards were announced at the annual Hedge Funds Rock industry event in Sydney on 17 September, 2009 which supports the Cure Our Kids Cancer Charity. Now in its eighth year, the Australian hedge fund community has donated over AUD2m.