P-Solve Alternative Investments Strengthens Team

P-Solve Alternative Investments (“PAI”), a $375m* fund of hedge funds manager, today announced the return of Dr Lee McCulloch-James as Quantitative Risk Manager. Mr McCulloch-James rejoined the PAI team on 13 July 2007. He will report to Jabir Sardharwalla, Chief Investment Officer of PAI.

 

Dr Lee McCulloch-James first joined PAI in December 2004 as Quantitative Risk Manager. He was previously a Risk Software Consultant at BARRA International (later MSCIBarra). He has a 1st class honours degree in Physics and Mathematics and has a Masters and a Doctorate in Mathematical Physics from University College, Dublin and King’s College, London respectively.

 

PAI has three funds of hedge funds listed on the Irish Stock Exchange and one fund of hedge funds listed on the London Stock Exchange for institutional investors and high net worth individuals. Each fund has performed well this year with the io Defensive Equity Fund and the Select Opportunities Fund in particular making strong returns.

 

Estimates to June 2007 show the io Defensive Equity Fund** has returned +9.29% YTD and +18.5% over twelve months with a volatility of 4.13%. Further more, the fund has experienced an unbroken twelve month period of positive growth. In addition, PAI’s Select Opportunities Fund** has returned +10.86% YTD, +19.68% over the last twelve months with a volatility of 5.68%. The London listed PSolve Niche Opportunities Fund has returned +8.70% YTD, +13.23% over the last twelve months with a volatility of 4.74%.

 

Commenting on the reappointment of Dr Lee McCulloch-James, Jabir Sardharwalla, CIO, said; “I am very pleased to welcome Lee back to the PAI team. His risk modelling expertise will be invaluable and his familiarity with our strategies and systems will ensure his seamless reintegration. Our funds have performed very strongly over the last twelve months and Lee’s return will help PAI remain a top performing fund of hedge fund manager.”

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