(June 11, 2013) — Man Group subsidiary GLG has scooped the annual Thomson Reuters Extel Survey prize of top hedge fund firm, as voted for by companies in which they invest and brokers working with them.
The company rose to top spot from fourth last year, and unseated previous winner Tudor Capital, which was shifted down to second position.
Last year’s second place, Och-Ziff Capital, was nowhere to be seen in 2013’s top 25 hedge fund firms. In total, 170 firms were ranked.
The awards do not rely on investment performance or any other quantitatively measurable metric. Instead, the survey is based on votes from companies in which the hedge funds hold stakes and the brokers with whom their managers have frequent interaction. Voters are asked to consider the buy-side firm’s market knowledge, interaction and meetings, and overall service and responsiveness.
Making up the top five places were Exane Asset Management, Wells Fargo affiliate Cygnus Asset Management, and SAC Global Investors, which is under investigation for suspicious trades. Last year, Cygnus Asset Management was in third place, with fifth spot going to Italian outfit Kairos Partners.
The awards were distributed at a ceremony in London’s Guildhall yesterday, and other members of the buy-side community were recognised for their contribution to the industry.
For a full list of winners (login required) click here.
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