HFR appoints Santos Chief Marketing Officer

Santos is a seasoned investment management executive with more than 20
years of experience at some of the leading firms within the securities industry. In
his new position. Santos will lead the global distribution efforts for HFR Asset
Management.

His responsibilities will include overseeing and developing HFR‚s distribution
partners, coordinating worldwide sales and marketing efforts, and providing the
strategic direction for HFR‚s business development activities. He will report to
Group Founder and CEO Joseph Nicholas.

Commenting on the appointment, Nicholas said: “The growth of the HFR Asset
Management business in the past few years has been strong. The demand for
greater transparency, independent pricing and more vigilant oversight has
created overwhelming interest in the unique capabilities HFR has developed over
the past decade. We are confident that Bill Santos will significantly broaden
HFR‚s institutional distribution capabilities to meet the growing demand for HFR‚s
family of transparent hedge fund products.”

Prior to joining HFR, Santos was Executive Vice President of Distribution for
Gartmore Global Investments where he was responsible for driving the evolution
of Gartmore‚s distribution strategy from a captive mutual fund provider to a third-
party distributor of alternative investment products, separate accounts and
mutual funds.

Before joining Gartmore, Santos served as Chief Marketing Officer at
Montgomery Asset Management, where he founded Montgomery Partners and
developed it into an industry leader in registered hedge funds.

Prior to Montgomery, he served as Chief Customer Officer of Scudder Weisel
Capital, a joint venture that combined institutional quality investment research
with access to private equity, venture capital, hedge funds and initial public
offerings. He has also held executive management positions at Dreyfus
Investments, Fidelity Investment, Bear Stearns and Transamerica Corporation.