SENIOR PROMOTION AT COLLINS STEWART

Isle News, 14 May 2009 – RICHARD Hodgetts has been promoted to lead manager for the Collins Stewart Absolute Return Plus Fund team.

Having previously acted as co-manager of the fund for two years, Mr Hodgetts, who was educated at Elizabeth College in Guernsey, has more than seven years experience in hedge funds.

He was head of hedge funds research at International Asset Monitor and sat on the investment and research committees of the Celadon Fund – a leveraged fund of hedge funds – prior to joining Collins Stewart in April 2007.

Head of Collins Stewart in Guernsey, Charlie Roger said: ‘Since joining Collins Stewart Richard has been instrumental in the development of the management process that has led to impressive outperformance by the fund, especially in 2008, which was a particularly difficult year for the sector.’

Mr Hodgetts was already head of hedge fund selection for Collins Stewart Wealth Management, responsible for the management of $175m and is a member of the Hedge Fund and Fund Selection committees.

Mr Hodgetts said: ‘The Absolute Return Plus Fund recently celebrated its sixth anniversary under Collins Stewart’s management and has continued to make returns for investors when other hedge funds have suffered badly. I am excited to head up the team that manages this fund; it has a solid performance track record and will continue to bring excellent returns for clients.’

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