A listed fund that allocates money to products managed by Europe's largest hedge fund has won a shareholder vote on its survival, in what a broker to the sector said marked a decisive break from a year that saw a string of bad news from the sector.

The vote by shareholders to continue their commitment to the £619m (€674m) BH Global fund was "pretty overwhelming and a real endorsement" said Mark James, executive director on the alternative investment funds team at RBS.