The Ninth Annual European Fund of Hedge Funds Awards, launched by Hedge Funds Review in 2001, is now open for entries. Deadline for submitting applications is September 24.

This year two categories have been added to reflect the changing nature of the FoHF industry: emerging markets FoHFs and Ucits platform.

The shortlist will be announced in October with the winners named at a gala dinner to be held on November 24 at the Northumberland Hotel in Trafalgar Square, London.

The European Fund of Hedge Funds Awards is the only signature event held exclusively for the European FoHF sector and attracts the top names from the industry.

This year there are 24 categories. All products must have been launched before July 1, 2009 and have minimum assets under management (AUM) of $100 million unless otherwise noted on the application form. Portfolio managers/investment decision-makers must be based in Europe.

Each FoHF is ranked against its peers by its annualised return, its Sharpe ratio and its annualised return over its worst month, for the relevant period. These three rankings are added to produce an aggregate ranking and a longlist.

Other metrics such as volatility, total return, percentage of positive and negative months and age and size of fund are also generated.

The judges then discuss the selection from both a qualitative and quantitative perspective. The presence of expert management that could be expected to continue producing and whether groups are of a sound basis are also considered. A shortlist is complied and from this a winner is chosen.

Previous recipients of these awards have seen as much as a 10-fold increase in AUM in the 12 months after winning. Making the shortlist alone gives managers increased awareness in the investor community.

To download an application form or for more information, visit the awards website.

Ben Cronin (+44 (0)20 7484 9735)  is also available to answer any questions.