Consulting Services Group (CSG), Advisor to $26 Bn Capital, Signs on PlusFunds to Service Institutional Investors

PlusFunds' Unique Process for Assuring Integrity of Risk

And Net Asset Value Calculations in the Hedge Fund Market

Will Further Sharpen CSG's Advisory Capabilities



Apr 02, 2001, 01:00 ET from PlusFunds

    NEW YORK, April 2 /PRNewswire/ -- PlusFunds announced today an agreement
 with Consulting Services Group (CSG) to provide services relating to its hedge
 fund activities.  PlusFunds is the world's leading service platform for hedge
 funds, providing independent third party verified real time Net Asset Values
 and Standard and Poor's daily Risk Measurements.  CSG provides investment
 advice to over 80 clients with more than $26 billion in total assets under
 consulting.  As a result of the agreement, CSG will look to utilize the
 PlusFunds platform to meet the needs of its sophisticated clients that demand
 better performance and risk reporting.  Observes John Pileggi, CEO of
 PlusFunds, "This agreement illustrates the trend towards transparency, and
 further solidifies the role of PlusFunds as an evolving industry standard for
 hedge fund investing."  Outlining the market advantage of adopting the
 PlusFunds platform, Joe Wade, President of Alternative Investment Strategies
 (AIS), a wholly owned subsidiary of CSG, notes, "PlusFunds will further
 improve our ability to advise our clients with respect to risk management.
 PlusFunds is unique in its ability to verify the information being used in its
 calculation engines thereby ensuring the integrity of the risk and return
 data.  PlusFunds fully aligns with our mission to use the most effective tools
 to monitor our managers and navigate unpredictable markets, something
 increasingly important as traditional institutional investors seek to add
 hedge funds to their portfolios."
 
     PlusFunds: Integrity of Verified Data, Risk Profiles and Real Time
 Valuations
     Diego Winegardner, Vice Chairman of PlusFunds, added that CSG selected
 PlusFunds for the integrity of its process of verifying its risk and pricing
 information and because PlusFunds maintains 3rd party objectivity. He
 remarked, "We are providing CSG with tools that are unique to PlusFunds.  Our
 proprietary process and legal structures ensure that client assets remain in a
 predefined brokerage and custody environment -- we call it our 'steel box.'
 Secondly, assets are independently reconciled with the prime brokers and
 custodians.  Finally, our risk reporting is approved each day through Standard
 & Poor's, a leader globally recognized for its integrity and independence."
 
     About Consulting Services Group
     Located in Memphis, Tennessee, Consulting Services Group (CSG) is an
 independent, unbiased organization assisting individuals and institutions in
 the preservation and growth of their assets.  It provides full-service
 investment consulting in addition to other related estate planning and
 risk-hedging services.  Established in 1988, its principals have been engaged
 in investment consulting for over 20 years.  Current client assets under
 consulting arrangements are over $26 billion.  An employee-owned firm, CSG is
 a Registered Investment Adviser with the Securities and Exchange Commission
 with 42 employees and over 80 client relationships.  It has a geographically
 diverse client base located across the continental U.S. and Europe.
     In July 1999, CSG acquired Alternative Investment Strategies (AIS).  Now a
 wholly owned subsidiary of CSG, AIS is a boutique completely dedicated to
 non-traditional investments, providing clients with alternative investment
 management, offering services regarding asset allocation, manager selection,
 and portfolio monitoring.  AIS designs all services to assist the client with
 return and risk requirements, while considering the taxable and legal
 situations of the client.
     CSG's clients include foundations, endowments, hospitals, insurance
 companies, trust companies, defined benefit and defined contribution plans,
 and high net worth individuals with assets in excess of $5 million.  The
 average tenure of CSG's consultants is over 10 years.
 
     About PlusFunds
     PlusFunds sets the stage for the hedge fund industry's reinvention and
 growth.  Created in early 1998, it is the world's leading independent hedge
 fund service platform with offices in New York and London.  The firm designed
 its service platform in cooperation with Standard & Poor's, Ernst & Young
 Consulting (now Cap Gemini Ernst & Young), Advent Software, Inc.
 (Nasdaq: ADVS), RiskMetrics Group, and the Bermuda Stock Exchange (BSX) to
 serve three major functions: 1) Provide real time, tick by tick NAVs (Net
 Asset Values) of hedge fund shares 2) Provide a variety of daily risk
 measures, including VARs (Value at Risk), historical portfolio shocks and
 concentration analysis of hedge funds and 3) Allow for the creation of a
 secondary market for non-US investors that trades exclusively among Registered
 Broker Dealers on the BSX.
     Consistent with rules governing these types of investments, the
 PlusFunds(SM) platform is able to provide Benign Transparency(SM), whereby
 valuation and risk information is disclosed without revealing security-level
 information, and investors can know more about hedge funds without
 compromising the positions of the hedge fund managers.  More than 18 hedge
 funds are currently participating on the platform, with combined assets of
 approximately $500 million.
 
 

SOURCE PlusFunds
    NEW YORK, April 2 /PRNewswire/ -- PlusFunds announced today an agreement
 with Consulting Services Group (CSG) to provide services relating to its hedge
 fund activities.  PlusFunds is the world's leading service platform for hedge
 funds, providing independent third party verified real time Net Asset Values
 and Standard and Poor's daily Risk Measurements.  CSG provides investment
 advice to over 80 clients with more than $26 billion in total assets under
 consulting.  As a result of the agreement, CSG will look to utilize the
 PlusFunds platform to meet the needs of its sophisticated clients that demand
 better performance and risk reporting.  Observes John Pileggi, CEO of
 PlusFunds, "This agreement illustrates the trend towards transparency, and
 further solidifies the role of PlusFunds as an evolving industry standard for
 hedge fund investing."  Outlining the market advantage of adopting the
 PlusFunds platform, Joe Wade, President of Alternative Investment Strategies
 (AIS), a wholly owned subsidiary of CSG, notes, "PlusFunds will further
 improve our ability to advise our clients with respect to risk management.
 PlusFunds is unique in its ability to verify the information being used in its
 calculation engines thereby ensuring the integrity of the risk and return
 data.  PlusFunds fully aligns with our mission to use the most effective tools
 to monitor our managers and navigate unpredictable markets, something
 increasingly important as traditional institutional investors seek to add
 hedge funds to their portfolios."
 
     PlusFunds: Integrity of Verified Data, Risk Profiles and Real Time
 Valuations
     Diego Winegardner, Vice Chairman of PlusFunds, added that CSG selected
 PlusFunds for the integrity of its process of verifying its risk and pricing
 information and because PlusFunds maintains 3rd party objectivity. He
 remarked, "We are providing CSG with tools that are unique to PlusFunds.  Our
 proprietary process and legal structures ensure that client assets remain in a
 predefined brokerage and custody environment -- we call it our 'steel box.'
 Secondly, assets are independently reconciled with the prime brokers and
 custodians.  Finally, our risk reporting is approved each day through Standard
 & Poor's, a leader globally recognized for its integrity and independence."
 
     About Consulting Services Group
     Located in Memphis, Tennessee, Consulting Services Group (CSG) is an
 independent, unbiased organization assisting individuals and institutions in
 the preservation and growth of their assets.  It provides full-service
 investment consulting in addition to other related estate planning and
 risk-hedging services.  Established in 1988, its principals have been engaged
 in investment consulting for over 20 years.  Current client assets under
 consulting arrangements are over $26 billion.  An employee-owned firm, CSG is
 a Registered Investment Adviser with the Securities and Exchange Commission
 with 42 employees and over 80 client relationships.  It has a geographically
 diverse client base located across the continental U.S. and Europe.
     In July 1999, CSG acquired Alternative Investment Strategies (AIS).  Now a
 wholly owned subsidiary of CSG, AIS is a boutique completely dedicated to
 non-traditional investments, providing clients with alternative investment
 management, offering services regarding asset allocation, manager selection,
 and portfolio monitoring.  AIS designs all services to assist the client with
 return and risk requirements, while considering the taxable and legal
 situations of the client.
     CSG's clients include foundations, endowments, hospitals, insurance
 companies, trust companies, defined benefit and defined contribution plans,
 and high net worth individuals with assets in excess of $5 million.  The
 average tenure of CSG's consultants is over 10 years.
 
     About PlusFunds
     PlusFunds sets the stage for the hedge fund industry's reinvention and
 growth.  Created in early 1998, it is the world's leading independent hedge
 fund service platform with offices in New York and London.  The firm designed
 its service platform in cooperation with Standard & Poor's, Ernst & Young
 Consulting (now Cap Gemini Ernst & Young), Advent Software, Inc.
 (Nasdaq: ADVS), RiskMetrics Group, and the Bermuda Stock Exchange (BSX) to
 serve three major functions: 1) Provide real time, tick by tick NAVs (Net
 Asset Values) of hedge fund shares 2) Provide a variety of daily risk
 measures, including VARs (Value at Risk), historical portfolio shocks and
 concentration analysis of hedge funds and 3) Allow for the creation of a
 secondary market for non-US investors that trades exclusively among Registered
 Broker Dealers on the BSX.
     Consistent with rules governing these types of investments, the
 PlusFunds(SM) platform is able to provide Benign Transparency(SM), whereby
 valuation and risk information is disclosed without revealing security-level
 information, and investors can know more about hedge funds without
 compromising the positions of the hedge fund managers.  More than 18 hedge
 funds are currently participating on the platform, with combined assets of
 approximately $500 million.
 
 SOURCE  PlusFunds