It was standing room only at last night's Australian Hedge Fund Industry Awards, an event that recognised the country's top-performing hedge funds while raising money for children's cancer charity, Cure Our Kids.

Taking the top award as Australian Hedge Fund of the Year was Fortitude Capital whose fund, the Fortitude Capital Absolute Return Trust, returned 11.55 per cent in the year to August.

There were seven other categories (see below), including ‘Best Investor Supporting Australian Managers', which went to Queensland-based Sunsuper. David Hartley, the fund's chief investment officer, accepted the award.

Hosted by the Alternative Investment Management Association (AIMA), the winners were judged based on their absolute returns over varying time periods, Sortino ratios and rates of performance drawdown and recovery. This year's awardees and finalists are:

Australian Hedge Fund of the Year Winner - Fortitude Capital Absolute Return Trust
Finalist - BlackRock Asset Allocation Alpha Fund - Class D
Finalist - Kohinoor Series Two Fund

Contribution to the Australian Hedge Fund Industry
John Currie, Partner, Henry Davis York

Best Emerging Manager Winner - Apeiron Global Macro Fund
Finalist - BlackRock Asset Allocation Alpha Fund - Class D
Finalist - Kohinoor Series Two Fund

Best Long Short & Absolute Return fund Winner - Lanterne Arran Fund
Finalist - Herschel Absolute Return Fund
Finalist - TI Intercept Capital Fund

Best Market Neutral Fund Winner - Fortitude Capital Absolute Return Trust
Finalist - Bennelong Long Short Equity Fund
Finalist - BGI Total Return - Australian Equity Market Neutral Fund

Best Global Macro/ Futures Fund Winner - BlackRock Asset Allocation Alpha Fund - Class D
Finalist - Excalibur Absolute Return Fund
Finalist - Kaiser Trading Fund 2 x SPC

Best Investor Supporting Australian Managers - Sunsuper

Best Fund of Funds Winner FRM Sigma Fund PCC Limited - Class A
Finalist AWJ Fund
Finalist GMO Multi-Strategy Composite