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29 Oct 2008

BNP Paribas Launches Hedge Fund Service Team

BNP Paribas has launched a global, transversal, multi-asset, hedge fund client service team. The team will be a single point of entry for Hedge Funds for all inquiry, according to BNP, leveraging the bank's capabilities and focusing on operational efficiencies.

The team is headed globally by John Polivko, based in New York and reporting locally to Jean-Patrick Kaiser, Deputy Chief Operating Officer, and globally to Bernard Gavgani, Equity and Commodity derivatives COO and Francois Freyeisen, Fixed Income COO.

Polivko recently joined the firm from Merrill Lynch where he was in charge of the client service organization for Prime Brokerage and more recently worked in financing sales. Prior to Merrill Lynch, Polivko also spent 7 years as a Managing Director at Bears Stearns in Prime Brokerage.

In addition, the appointments of regional managers reporting directly to John Polivko are Victoria Baker, Neil Spice and Jacqueline Man as regional head of hedge fund client service based in Hong Kong.

Talbot Stark, global head of hedge fund relationship management said, "Hedge Funds are a very important client base for BNP Paribas, following the acquisition of Bank of America's Prime Brokerage business as well as the growth of the hedge fund relationship managements team, the creation of this function is another step in better serving those clients."

Ansher Frontier Funds Up in October

Alternative investor Ansher Holding Limited, which is focused on investments in Central Asia and the Caucasus, has reported their equity long/short hedge fund is up 13% YTD.

“Central Asia and the Caucasus region have emerged as one of the world’s fastest growing regions and has shown notable development potential,” says Pascal Buschor, Executive Director and member of the investment committee, “The region is rich in oil, gas, cotton and gold with reasonable infrastructure and human capital and a strategic location between Asia and Europe. The diversified economies of most Central Asian countries show also very attractive valuations in the banking, insurance, food processing and telecommunication sectors.”

Anshers 2 hedge funds have a rather narrow regional focus to invest across Central Asian and the Caucasus' equity and property markets, the Ansher Regional Property Fund (ARPF) and Ansher Regional Equity Fund (AREF). The funds have shown strong performance since launch, in 2006 showing a positive return of +34.2%, 2007: +33.1%, 2008: +13%, for the equity fund, and +8.6%, for the newly launched real estate fund.

With a low correlation to main markets and strong links in the area, including political, the investment objective of AREF is to take advantage of high yield and relatively undervalued assets in fast-growing industries such as oil & gas, mining, energy, financial institutions, and consumer goods sectors in order to achieve long term capital appreciation primarily through an actively managed portfolio of securities and assets in the Region.

Endowed with world class natural resources, the Region is experiencing strong economic growth and attracting billions of dollars in foreign investments, Ansher says in its monthly report, expecting also to benefit from great deal of spill over effect of oil & gas and mining industries on other sectors of the economy.

Ansher Fund Management is the asset management arm of Ansher Holding Limited. Founded 1998, the company has managed number of successful funds dedicated to emerging markets of the CIS as well as Turkey and Mongolia. Ansher FM has managed three different funds with consolidated AUM of $80 million with mandates of investing in the equity markets, property markets and private equity opportunities.

This exceptional performance is attributable to being the only regional focused family of funds with physical presence of the team in the region Tashkent (Uzbekistan), Almaty (Kazakhstan), Dubai (UAE), Zurich (Switzerland). The team of Ansher FM consists of 10 investment professionals as well as 4 back office employees to cover the region.

Domiciled in the Cayman Islands, Ansher has a 2% management fee, a 20% performance fee with a 8% hurdle rate and a minimum investment of $100.000.