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Tremont's TASS ResearchTM Reports Hedge Funds See Second Consecutive Net Inflow Record


Date: Thursday, December 4, 2003

For the second consecutive quarter, investors allocated a record net inflow into hedge funds, according to research compiled by Tremont's hedge fund and research unit, TASS ResearchTM1. TASS's quarterly reporting analysis showed that, in the third quarter, hedge funds attracted a net $24.6 billion in assets on the heels of $13.8 billion in the previous quarter. Through September 30, 2003, TASS reports a record net inflow of $45.4 billion compared to $16.3 billion for all of 2002. According to TASS, the Asset Flows report shows that 2003 is the strongest on record with regard to net inflows. The strategies which experienced the best third quarter inflows were Long/Short Equity with $5.9 billion followed by Event Driven with $5.6 billion and Global Macro with $3.1 billion. All categories tracked experienced net inflows during the quarter. The strategies that attracted the most in asset flows were those that offer exposure to the broad markets. TASS believes that this reflects investors' desire to participate in the equity market recovery in 2003 while also gaining exposure to non-correlated, absolute return strategies. The TASS ResearchTM quarterly analysis of hedge fund flows is based on a comprehensive analysis of approximately $426.9 billion in hedge fund assets. The universe represents a broad array of managers and funds based in the U.S. and overseas.