Crème de la crème

2005 was another tough year for funds of hedge funds. However it was not a tough year, by all appearances, for the winners of Hedge Funds Review's annual European Funds of Funds Awards, held at the Marriott in London's Grosvenor Square on 8 December.Returns from the cream of the funds of funds crop, as chosen by our judges (Phil Irvine from Liability Solutions, Tushar Patel from HFIM, Fredrik Nerbrand from HSBC Private Bank, Adrian Fairbourn from Fund Advisors and David Walker from Hedge Fun