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12 Feb 2008

Report Examines Developments in the Spanish Fund Supermarket

Research and Markets has announced the addition of "Fund supermarkets in Spain 2007" to their offering. The report examines developments in the Spanish fund supermarket sector and assesses the distribution channels that are in operation. The report analyzes both the current and possible future trends of the industry.

Spanish legislation has recently made provisions for two new fund classes available to retail investors, exchange traded funds and funds of hedge funds, allowing fund supermarkets to offer a comprehensive range of investment funds. Covering both domestic and international markets as they exercise considerable control over the fortunes of fund managers through their short-lists of recommended funds.

Year-on-year growth in assets under management fell from 11.94% in 2005 to 1.31% in 2006. This sharp decline in growth is partly attributed to a growing preference for bank deposits (among conservative investors) triggered largely by the introduction of a new tax regime, and increasing demand for foreign funds (among more sophisticated investors).

Hedge Funds Decline in January 2008

The Greenwich Global Hedge Fund Index (GGHFI), fell -2.44% in January amid severe declines in global equity markets such as the S&P 500, MSCI World Equity, and FTSE 100 indices.

Meanwhile, 79% of hedge funds outperformed the S&P 500, with 33% ending the month in positive territory.

Margaret Gilbert, Managing Director of GGHFI said, "Despite January being hedge funds’ weakest month since July 2002, hedge funds fell far less than equities..... This ‘downside protection’ is particularly apparent over the last twelve months with hedge funds returning +7.14%, outperforming the S&P 500 by +9.45% during this period."

For January, all four hedge fund strategy groups outperformed the S&P 500, according to the report. Directional Trading ended up +0.81%, while dedicated Short Sellers were the stellar performers, up +6.99%. January’s Index currently includes 1,011 constituent funds.

Greenwich Alternative Investments, LLC manages one of the world's largest hedge fund databases and is a provider of hedge fund indices, asset management services and research to institutional investors worldwide.

Hedge Funds World Conference

The 2008 ninth annual Hedge Funds World Middle East Conference is to be held at the Madinat Jumeirah Hotel from 3-6 March 2008.

A highlight will be the Second Annual Hedge Funds World Middle East Awards Ceremony on 4 March, presented by Man Investments and Terrapinn. The awards recognise excellence and innovation in the Middle East hedge fund industry and promote the asset class in the region. Finalists for the awards are listed below.

Man Investments, one of the world's leading providers of alternative investments, is once again a principal sponsor of the event. The company, which has prospered in the Middle East for more than 20 years, has strongly supported the Hedge Funds World Middle East Conference since the first such event in 1999.

A special highlight at the conference will be the welcome address by Nasser Al Shaali, CEO of the Dubai International Financial Centre Authority. The DIFC has established itself as the first international financial centre of the region and the fastest growing in the world. Today it is home to more than 500 companies including many of the world's leading financial firms.

Keynote speakers include industry leaders such as: Sindo Oliveros, director of Pension Plan and Endowments, the World Bank Pension Fund; Ronald A. Rolighed, Managing Director, Harris Alternatives LLC; Ikho Suh, Head of Investment Strategy, Korea Investment Corporation; Christopher Durand, Head of Alternative Investments, Abu Dhabi Investment Company; Dr Mehraj Mattoo, Global Head of Commerzbank Alternative Investment Strategies; Ann Thivierge, MD and Head of Active International Allocation Strategy, Morgan Stanley; and Dr Susgil Wadhwani, CBE, CEO, Wadhwani Asset Management.

Antoine Massad, Chief Executive of Man Investments Middle East Limited who is once again chairing the event said, 'The hedge fund industry has made big advances in the region in recent years, offering investors wider choices and a range of new opportunities.. At this event, we will again recognise this progress and promote it through the Hedge Funds World Middle East Awards.'