News in Brief - 2

- Beauchamp Financial Technology Inc (BFTI) has been chosen by New York firm Angelo, Gordon & Co, to provide it with integrated trading, portfolio management and accounting software. BFTI was selected due to its strong track record of delivering state of the art solutions to investment managers, according to Fred Berger, chief administrative officer of Angelo, Gordon.

- AQ Olympia Investment Advisors, the joint venture licensed investment advisory firm in Tokyo, has been opened. The office has two distinct operations, a specialised marketing and distribution operation for a selective portfolio of US and European-managed alternative investment products and services to Japanese institutional investors, plus operating as the Tokyo-based centre of Aquitaine's Asian Emerging Manager Programme. This includes the first two Japanese hedge strategies originated from this programme, the AQ Japan Long-Short and AQ Japan Market Neutral Funds.

- HSBC Republic Investments has launched a new website ' ' dedicated to its Absolute fund of hedge funds range of investment companies and providing information to those wishing to follow developments in the alternative investment industry. The site features detailed information about the HSBC Absolute products as well as background material and industry data relating to the world of alternative investments.

- Eze Castle Software, a provider of order management software, will offer its clients trading access to European equities exchanges via connections to NeoNet's global execution network. NeoNet is an international agency broker that provides electronic equity execution services for institutional investors and broker-dealers.

E Investors in the third quarter of 2002 added a net $6.8bn to hedge funds, according to research compiled by Tremont's TASS. This brings the total net assets allocated to hedge funds this year through 30 September to just under $17bn. In its quarterly analysis of industry fund flows, Tremont's TASS Research found investors continued to favour long/short equity, fixed income arbitrage and event-driven strategies.

- Standard & Poor's launched its S&P Hedge Fund Index in late November, along with three style sub-indices. The S&P Hedge Fund Index is designed to be investable and representative of the broad-based investment experience of the hedge fund marketplace. Standard & Poor's makes this data available to all investors through its website and is expected to be available soon on Reuters and Bloomberg.

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