Receiving the equivalent of a corporate knighthood is affirmation for a firm famous for client conferences that include wellie tossing and Hedgestock, this summer's hippy revival in the English countryside.
Hedge fund consultant Albourne Partners Ltd., London, was among four investment management and consulting firms awarded the prestigious Queen's Award for Enterprise: International Trade 2006.
"Our first office was behind the village butcher's shop," recalled Simon Ruddick, Albourne's chief executive officer, in an announcement on the firm's hedge fund-oriented website, albournevillage.com. The firm was founded in 1994 and now has 88 employees in offices worldwide.
London-based money managers Mondrian Investment Partners Ltd. and Colchester Global Investors Ltd., and Baillie Gifford Overseas Ltd., Edinburgh, also were awarded the prize. It was Mondrian's second such award and Baillie Gifford's third. About one in five qualified applicants receives the prize, said David Tilles, Mondrian's chief investment officer.
As for the significance of the award for outstanding businesses, Mr. Tilles said, "It's a nice thing to mention, but it's not well understood in the U.S. But it does help staff morale. It's independent acknowledgement of their achievements and a good boost."