29^th March 2006

Brewin Dolphin, the UK 's largest independent portfolio manager, has formed a specialist team qualified to analyse hedge funds. The new team has been built in expectation that the FSA will widen the range of funds that can be marketed to retail investors and include authorised “funds of hedge funds”.

Brewin Dolphin reports a growing demand from its clients to access more sophisticated alternative investment opportunities. The newly formed team will recommend funds to clients for whom this type of investment would be appropriate.

Harry Burnham , Group Funds Director, said,

“We believe hedge funds will have enormous potential for private investors as they move closer towards being a mainstream investment option. However, it's vital for clients to understand that hedge funds have complicated structures as well as vastly different risk profiles and strategies. By taking a cautious approach, we aim to give private clients exposure to areas of investment from which they have historically been excluded.”

The 5 strong team of fund analysts will report to Harry Burnham , Group Fund Director and will be based in London . The team is led by Matthew Butcher CAIA, Director Research Division, who is heading up the research capability.

Brewin Dolphin manages £17 billion with over £2 billion in funds. Through its independent status it offers its clients a wide selection of ‘best of breed' funds.