Institutional Investor's Alpha Magazine - November 2008 - (Page 61)

Rank 2008 2007 Firm, location, fund names Firm/fund capital 2008 ($ millions) One-year change (%) January – June Net return (%) 2007 Five years* Inception date 43 37 Investcorp Inv. Advisers (New York, NY) Balanced Fund Diversiﬁed Strategies Fund Event Driven Fund Early Stage Fund $6,161 2,115 1,028 199 62 5,818 2,018 1,036 276 5,500 350 200 125 <100 5,496 2,241 1,852 305 5,300 1,997 1,261 543 516 262 5,220 1,988 1,922 610 337 174 5,200 870 745 221 220 214 5,200 825 750 512 317 139 –7.44% –3.75% –3.12 –2.53 –0.01 33.59 0.42 –0.41 4.45 9.06 3.52 –0.86 –1.77 –1.68 –1.24 –0.60 –0.60 –0.98 –36.28 –6.90 –12.10 –12.00 –1.30 –13.80 27.32 –0.50 –2.20 –1.80 –3.20 –1.60 7.22 –3.10 –5.79 –3.38 –2.91 –5.84 6.86 –0.30 –2.93 –1.24 –3.54 6.91 7.28 8.37 8.95 8.22 6.86 5.82 6.23 5.99 6.74 9.51 3/1/03 1/10/02 1/10/00 6/1/05 1/8/06 5.71 7.06 7.93 6.83 9.56 4.47 12.98 5.61 4.03 9.36 10/11/91 12/1/99 1/1/97 3/30/01 2/1/89 16.10 12.10 15.60 8.50 13.70 11.64 10.02 11.83 7.89 9.43 12/10/90 7/13/00 8/17/95 12/6/01 5/10/04 10.20 17.00 14.10 10.40 4.90 6.10 8.80 6.47 10.00 5.10 12/31/00 5/31/91 4/30/04 12/31/95 6/30/02 12.48 12.10 0.59 8.10 8.10 3.50 11/1/06 11/1/06 11/1/06 11.59 5.80 16.09 6.70 9.76 6.05 10.03 1/11/07 10/1/02 2/1/00 12/1/01 11.23 12.34 20.40 7.34 7.07 13.15 1/10/91 8/1/95 1/3/06 16.47% 13.36 28.80 19.47 7.89% 6.40 13.43 14.26 4/1/04 4/1/98 1/1/03 3/1/07 44 — Olympia Capital Mgmt (Paris, France) Star I (USD) Class Star II (USD) Class Special Opportunities Class B (USD) 45 49 Harcourt Inv. Consulting (Zurich, Switzerland) Belair (Lux) Sustainable Alternatives SRI Belmont Long Short Equity Belmont Diversiﬁed Belmont Asia 46 42 Desjardins Global Asset Mgmt (Montreal, Canada) ASF II – Cell A Alt. Strategy Fund Asset Allocation Fund 47 31 Lombard Odier Darier Hentsch & Cie. (Geneva, Switzerland) Alt. Strategies Delta Global Fund Delta Global Fund EUR – Class P Multiadvisers – U.S. Equity Long/Short Multiadvisers – Asia-Paciﬁc Equity Long/Short 48 — Archstone Mgmt Co. (New York, NY) Archstone Partners Offshore Fund Opportunities Fund Market Neutral Strategies Fund Equity Strategies Fund 49 — HDF Finance (Paris, France) Multi Alternatives Eurovest Fixed Income Alt. Global Arbitrage Xiphias Investissement 49 50 New Finance Capital (London, U.K.) Opus Fixed Income Fund Opus Fund (Multi-Strategy) Opus Alt. Inv. Fund – Diversiﬁed Opus Credit Fund Opus Macro Fund How We Compiled the Ranking The data for Alpha’s 2008 Fund of Funds 50 were gathered from questionnaires completed by the fund-of-hedge-funds ﬁrms themselves, research in the public record and extensive staff reporting. In some cases we have included estimates based on our reporting. Only multimanager hedge fund portfolios are included in the asset ﬁgures. Assets are stated in millions of dollars and are current as of June 30, 2008, unless otherwise noted. This ranking was compiled by Associate Research Editor Julia Leikin, under the guidance of Assistant Managing Editor Sathya Rajavelu. Inevitably, we will have overlooked some institutions that belong on our list. If we missed yours, please send an e-mail to FoF50@iimagazine.com to request a questionnaire for the 2009 ranking. NOVEMBER 2008 • INSTITUTIONAL INVESTOR’S ALPHA • 61

Table of Contents Feed for the Digital Edition of Institutional Investor's Alpha Magazine - November 2008

Institutional Investor's Alpha Magazine - November 2008 Contents Letter from the Editor Longs & Shorts Pension Corner: Risk Rewarded The Good Guys: In the Here and Now Interview: Minister of Finance Cover Story: The Agony of Dan Zwirn Strategies: The Early Birds Are Awake Strategies: The Call of Shari’a Profile: Sweet Home Chicago Research Center: What Stampede? Alpha Bytes: Centralize the Data Unhedged: Commentary: Learning from the Wreckage

Institutional Investor's Alpha Magazine - November 2008

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