WEST PALM BEACH, FL (www.HedgeCo.Net) – Gabriel Bousbib, President and Chief Executive Officer of PlusFunds Group, Inc., has resigned to pursue other interests according to a press release from thefirm. Mr. Bousbib will remain as an adviser to the firm until February 28, 2005 when his replacement will be named. Chris Sugrue, PlusFunds Group, Inc.’s Chairman said, �Gabriel led the firm’sdramatic growth, taking it from the novel, unproven concept of hedge fund indices in 2001 to the largest independently owned hedge fund managed account platform in the world, with nearly $3 billioncurrently under management. We are pleased that the firm will continue to benefit from Gabriel’s insights and expertise for the next few months.”
In his remarks, Bousbib said, �Over the past 3 years, we have built a strong and flexible hedge fund infrastructure which now supports a large number of sophisticated institutional investors and financial intermediaries, for both index-based and actively managed hedge fund programs. I am confident that PlusFunds Group, Inc. will maintain the leadership position it has achieved today, as a provider of innovative hedge fund investment services and products.”
PlusFunds Group, Inc. has been managing products for hedge fund managers and investors. The firm provides numerous investment options depending on an investor’s risk profile, including choices based on currency denomination, and exposure to the range of hedge fund strategies and styles. PlusFunds Group, Inc, was listed in the Top 50 of Institutional Investor’s annual ranking of Multi-Manager Hedge Fund Firms, and cited for its 406% increase in assets, year-over-year.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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