Hedge fund managers voted EY as the top global accounting organisation in this year’s Institutional Investor’s Alpha 2014 Alpha Awards.

As with the overall global ranking, EY also captured the crown in all five of the aspects of service on which hedge fund professionals were asked to rate accounting firms: audit, tax, regulatory and compliance, client service and hedge fund expertise.

“This award is particularly significant because it is based on how managers across the globe feel about the work we do for them,” said Art Tully, partner, Financial Services, Ernst & Young LLP, and EY Global Hedge Fund Services co-leader.

“It’s great to see that the industry recognises and values EY’s deep-rooted global presence as well as our audit, tax and regulatory knowledge, particularly as we continue to make strategic hires — including former regulators — to help hedge fund managers navigate today’s complex environment and to prepare them to handle the challenges ahead.”

According to Institutional Investor’s Alpha, hedge fund managers praised EY firms for delivering the most added value in tax services and audit support.

Ernst & Young LLP was also recently named Best Accounting Firm by the HFMWeek 2013 US Hedge Fund Service Awards for the fifth consecutive year and the EY organisation, ranked as the top global audit and accounting service provider by Hedge Funds Review, for the third consecutive year, as well as Best Advisory Firm in the HFMWeek 2013 European Hedge Fund Services Awards for the third consecutive year.