January 24, 2005

New Directors Join Funds of Funds

LONDON (HedgeWorld.com)--David Watts and Evert Greup are the latest additions to Key Asset Management's board of directors.

Both are joining in non-executive roles after years of traditional asset management experience. The appointments are expected to contribute to Key's institutional business development, officials said in a press statement.

Mr. Watts retired from Gartmore Investment Management in 1999, after serving in the senior management of the money management firm for the past 20 years. He had been chief executive since 1996. He also has non-executive positions at Martin Currie Investment Management and JP Morgan Fleming Income and Growth Investment Trust plc.

Mr. Greup has been CEO at Kempen Capital Management since 1991 and took the company private in a management buyout last year. He now acts as an adviser to Kempen.

"I think the fact that David Watts and Evert Greup, who both are very highly regarded in the European fund management industry, have agreed to join our board is a stamp of approval for KAM's future strategy and commitment to the fund of hedge fund business," said Peter Dencik, chief executive of Key, in a statement.

Key has grown to US$1.1 billion in assets under management and advice. Mr. Dencik joined Key last year after he served as senior adviser to the board at Singer and Friedlander Investment Management Ltd. (see ).

Contact Bob Keane with questions or comments at: bkeane@investmentadvisor.com.

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