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UBS Registered Fund's Assets Almost Double in One Year

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NEW YORK (–Demonstrating that registered funds continue to grow at a fast pace, UBS Tamarack International Fund LLC has increased assets under management some 84% over 2004, according to the latest filing with the U.S. Securities and Exchange Commission.

As of the end of Dec. 31, 2004, Tamarack’s assets were US$430 million, up from US$234 million from a year ago. Even the last three months of 2004 have brought a substantial increase. As of Sept. 30, 2004, assets were at US$371.5 million (see ).

Unlike most registered vehicles, Tamarack is not a fund of funds but a long/short equity hedge fund with emphasis on mid-size companies in developed markets outside the United States. The portfolio is managed by Reach Capital Management LLC, in a joint venture with UBS Fund Advisor LLC, New York.

The managers are Nigel Hart and Pieter Taselaar. Previously, Mr. Hart was co-manager of the Putnam International Voyager Fund and Mr. Taselaar was a senior managing director at ABN AMRO.

Contact Bob Keane with questions or comments at: [email protected].