A hedge fund manager was named as European Asset Management Firm of the Year for the second year in a row at Financial News' annual awards for excellence in the sector, announced last night at a ceremony in London’s Banqueting House.

Brevan Howard Asset Management seized the most prestigious prize at The Financial News Awards for Excellence in Institutional Asset Management, just ahead of Aberdeen Asset Management and Schroders. Brevan Howard also clinched the Hedge Fund Manager of the Year award, having lost out by a whisker last year.