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Opalesque Exclusive: Contrarian program at Paskewitz Asset Management surpasses $100m, posts +9.47% for 2008 YTD Paskewitz Asset Management’s Contrarian Stock Index program just surpassed $100 million in assets under management. Net performance YTD through April 2008 is +9.47%, and performance in 2007 and 2006 was +39.9% and +36.48% respectively. Annualized return since inception in December 2003 is +25.7%.

The fully-systematic contrarian program invests exclusively in S&P 500 futures. It uses multiple models to forecast short and intermediate term tops and bottoms in the S&P 500 index, and then simultaneously generates trades, buying identified market bottoms, and selling identified tops. As a result of this contrarian style it is uncorrelated with most other CTA and hedge fund products. No online source.

Bear Stearns' $1.2bln macro hedge fund sees bounce From Reuters: Investment bank Bear Stearns & Co may have hit rough times but at least one of its hedge funds, the $1.2 billion Emerging Markets Macro Fund, is bouncing back from earlier losses this year.

The fund, managed by former top Bear proprietary trader Melissa Ko, posted gains of 8.9 percent for April, according to a note the fund set to investors this week. The performance gains for April come after it suffered losses of 15.2 percent in the year through March, so the fund is still down 7.6 percent for the year, according to the note, which was obtained by Reuters.

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