LUXEMBOURG – Swiss bank UBS has been named the “best overall” European fund promoter in the second annual European Funds Awards.

The awards are organised by Luxembourg-based fund advisor Fund-Market, Reuters’ fund subsidiary Lipper and Luxemburger Wort.

The awards ceremony took place in Luxembourg today.

Belgrave Capital Management won best promoter for equity funds, Almanij (Kredietbank) ranked top promoter for bond funds while Swissca Holding was the best promoter for mixed assets funds.

The organisers said that almost 1,400 funds were short-listed for the latest European Fund Awards.

Funds had to be registered in at least three of the five most active European countries in the funds market and have a track record of at least 36 months as of the end of 2002.

The results were calculated using methods developed by Lipper.

“We thought it was essential to create a benchmark on a European scale in line with the growing European integration of the funds market,” said Fund-Market director Henri Reiter.