Hedgeweek, a U.K.-based website covering hedge funds and institutional investors, recognized Morgan Stanley as "Best North American Prime Broker" on March 3, 2011.

The results were based on votes received from Hedgeweek's 41,000 subscribers, who include individual and institutional investors, managers and other industry professionals at fund administrators, prime brokers, custodians and advisers.

According to the site's editors, "The 2011 Hedgeweek Awards reflect the industry's recovery from its difficulties in 2008 and 2009 as stability in performance has returned and capital inflows have helped assets under management to recover the record levels seen nearly three years ago."