New York (HedgeCo.net) – Pharos Financial Group won Best Hedge Fund Manager at the 4th Annual Hedge Funds World Middle East Awards held on March 1st in Dubai.

The awards are hosted by Terrapinn as part of their annual Hedge Funds World Middle East Conference. The award was given to the best hedge fund manager based on historical track record, downside protection, 2009 performance and Middle East marketing effort.

Founded in 1997 by American Peter M. Halloran, CEO, with seed money from Soros and CS First Boston, Pharos Financial Group is a specialist emerging markets investor. With offices in Moscow and Dubai, Pharos is one of the most experienced Russian fund managers specializing in the securities markets of Russia and the former Soviet Union. Pharos has consistently outperformed over the past 10 years with nearly double the total return of the market with less than half of its volatility.