Ratings & Rankings

We are pleased to present select reults from Lipper HedgeWorld Research Institute's 2005 HedgeWorld Service Provider League Tables & Analyses, a comprehensive survey of the hedge fund industry’s major participants.
Lipper HedgeWorld Service Provider Directory & Guide 2005/2006 Edition
Prime Brokerage League Tables, 4Q2004 Index
Bear, Stearns Securities Corp.

Rank*
Category		 Assets
(in U.S. $ Millions)
2 Assets of Hedge Funds Total Assets of Funds 86,235
1 Assets of Hedge Funds Total Assets of Funds in 500M+ Asset Class 63,894
3 Assets of Hedge Funds Total Assets of Funds in 100-500M Asset Class 17,058
3 Assets of Hedge Funds Total Assets of Funds in 0-100M Asset Class 5,283
1 Assets of Hedge Funds Total Assets of U.S. Funds 25,824
1 Assets of Hedge Funds Total Assets of U.S. Funds in 500M+ Asset Class 14,120
1 Assets of Hedge Funds Total Assets of U.S. Funds in 100-500M Asset Class 8,950
1 Assets of Hedge Funds Total Assets of U.S. Funds in 0-100M Asset Class 2,755
2 Assets of Hedge Funds Total Assets of Non-U.S. Funds 60,411
1 Assets of Hedge Funds Total Assets of Non-U.S. Funds in 500M+ Asset Class 49,774
3 Assets of Hedge Funds Total Assets of Non-U.S. Funds in 100-500M Asset Class 8,108
3 Assets of Hedge Funds Total Assets of Non-U.S. Funds in 0-100M Asset Class 2,528
1 Assets of Hedge Funds by Style: Convertible Arbitrage 9,835
1 Assets of Hedge Funds by Style: Event Driven 45,034
1 Assets of Hedge Funds by Style: Dedicated Short Bias 584
2 Assets of Hedge Funds by Style: Fixed Income Arbitrage 6,356


Rank*
Category		 Assets
(in U.S. $ Millions)
3 Number of Funds Total Number of Funds 282
2 Number of Funds Total Number of Funds in 500M+ Asset Class 42
3 Number of Funds Total Number of Funds in 100-500M Asset Class 75
3 Number of Funds Total Number of Funds in 0-100M Asset Class 165
1 Number of Funds Total Number of U.S. Funds 141
1 Number of Funds Total Number of U.S. Funds in 500M+ Asset Class 13
1 Number of Funds Total Number of U.S. Funds in 100-500M Asset Class 36
1 Number of Funds Total Number of U.S. Funds in 0-100M Asset Class 92
3 Number of Funds Total Number of Non-U.S. Funds 141
2 Number of Funds Total Number of Non-U.S. Funds in 500M+ Asset Class 29
3 Number of Funds Total Number of Non-U.S. Funds in 100-500M Asset Class 39
3 Number of Funds Total Number of Non-U.S. Funds in 0-100M Asset Class 73

This brochure presents excerpts of Lipper HedgeWorld Service Provider Directory & Guide, 2005/2006 Edition, published by the HedgeWorld Research Institute; these excerpts have been reprinted with permission. For the complete findings of the survey, and for more information on how the results were compiled, visit www.hedgeworld.com

Rank: Based on a total universe of 1,984 U.S. and international hedge fund managers and CTAs representing US$406 billion in assets under management reporting a single Prime Broker relationship to the Lipper TASS database as of 12/31/04. In this ranking, where appropriate the group or parent company name is used. The Lipper HedgeWorld Tables are based upon the reponses of identified hedge fund investors to a survey. The tables do not represent any qualitative analysis or review of the services provided by any brokerage firm referenced. Only selected tables are provided. A complete copy of the Lipper HedgeWorld Prime Brokerage League Tables is available upon request.

Copyright © 2005 by Lipper HedgeWorld. Rankings are based on funds reporting to the Lipper TASS Database as of 12/31/2004. Reports are  based on information and data supplied by managers to the Lipper TASS Database, and are believed to be accurate, but must be accepted with no guarantee of completeness or accuracy. Past performance is not a guarantee of future performance.