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Opalesque Exclusive: Harry Kat launches website `where investors can create their own synthetic funds and replicate any hedge fund, fund of funds or index` Harry Kat, professor of risk management at London's Cass, has launched FundCreator (www.FundCreator.com), a website where investors can create their own synthetic funds and replicate any hedge fund, fund of funds or index they like.

Opalesque Note: In a previous note to Opalesque, Kat said that in a large-scale test involving almost 2,500 (funds of) hedge funds, synthetic funds would have outperformed real (funds of) hedge funds 82% of the time over the past 15 years.

According to the website, Talergroup, an independent multi-family office and investment manager, will start the first FundCreator-based fund early 2007.

Talergroup is an independent multi family office set up by three alternatives veterans: Philip van den Berg (ex Goldman Sachs, Olympus Capital Management), Marc Bressers (ex Ernst &Young Investment Consultancy) and Ron Westdorp, (ex Goldman Sachs, GLG Partners). The firm launched in August 2006, offers both investment advisory and investment management and has offices in Amsterdam and Gibraltar.

Kat says he and his team are now in the process of writing a series of short papers on the various applications of FundCreator and the differences between FundCreator and the Merrill Lynch, Goldman Sachs, and Dow-Jones hedge fund ......................

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