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23 Jun 2009

Renaissance Hedge Fund Launch

Quantum Global Financial Corp. has launched a multi strategy New Renaissance Fund with over 37% return for its first 11 months ended May 29, 2009.

The fund uses a systematic approach that employs a new technology. These are dynamically self adapting forecasting models. The algorithms have been in development for 18 years, tested for 7 years in simulation, and finally put into practice 11 months ago resulting in a substantial positive performance gap.

QGF achieved their 37% return with average leverage ratio of 1.25. For the same period, the CSFB Managed Futures Index was down 2.37%, Barclay Multi Strategy Hedge Fund index was down 13.89% and the S&P 500 was down 37.67%.

The fund focuses on delivering absolute performance throughout the economic cycle, transparency, liquidity and partnerships with firms that demonstrate
extraordinary ethical compliance and global sustainability.

Principles For Hedge Fund Regulation Welcomed By AIMA

Global hedge fund industry group, The Alternative Investment Management Association (AIMA), has welcomed the principles for hedge fund regulation published by the International Organization of Securities Commissions (IOSCO) today.

“We are very happy to welcome the publication of this report today because AIMA has already announced its support for several of the high level principles mentioned in it." Andrew Baker, AIMA CEO, said, “In our new policy platform of 24th February, we said that we supported global registration for managers and we are glad that IOSCO has also come out in favour of this.

“We also expressed our support for the reporting of systemically relevant information by managers of large hedge funds to their national regulators, and this is another one of IOSCO’s key principles.

“We are also delighted that IOSCO refers to the ‘development, implementation and convergence of industry good practices’ because AIMA has been extremely active in this area and is continuing a great deal of work on it with the other groups involved. We are following up on a G20 action point in this respect," he continued.

In a note of caution, however, Baker said, "We would stress that it is hedge fund managers, rather than the funds themselves, that should registered. It is also mentioned that hedge funds use derivatives for speculative purposes without stating that exchange-traded and over-the-counter derivatives are principally used by the relevant market participants for risk management purposes."

“Finally, we are concerned that these recommendations may lead regulators to seek quantity rather than quality of data. It is important that regulators have the expertise and resources to deal with the data they receive.”

AIMA has more than 1,100 corporate members worldwide, based in 40 countries, including hedge fund managers, fund of hedge funds managers, prime brokers, legal and accounting firms and fund administrators.