Results of September survey on state of the hedge fund industry.

1. Results of Q3 2009 Hedge Fund Survey

3. Following negative returns in late 1998, hedge fund returns bounced back in 1999. What do you expect the average net of fees return for hedge funds will be in 2009?

4. In 2009 the top performing strategy of the hedge fund strategies listed below will be:

5. As at the end of 2008, total hedge fund assets were estimated at $1.4 trillion (Source: HFR). At the end of Q4 2009 industry assets will be:

6. Many hedge funds have expressed concern over the potential ramifications of the European Commission's draft Alternative Investment Fund Managers Directive? If the draft, in its current form, is passed into law, how will it impact your business?

7. Q5. Some commentators believe that the recession is over. When do you think the financial crisis will be largely over? Sometime before the end of 2010 After 2010

8. Following the Madoff scandal and the generally negative performance of the hedge fund industry in 2008, what do you think will be the response from institutional investors and other allocators to hedge funds? Please tick as many responses as you feel applicable.

9. Regulation: Which statement below do you agree with the most?

10. Have the events of 2008 made you consider signing up to the tenets of the Hedge Fund Standards Board?

11. What trends do you expect to affect the hedge fund industry in the rest of 2009? Please tick as many responses as you feel applicable.

12. Ucits III hedge funds are on the rise. Do you expect this type of absolute return product to increase at a more rapid pace over the next twelve months? Yes No

13. For further information... Please contact – Jamie Murray on +44 207 776 0525 or at [email_address] See our corporate website at www.broadgatepr.co.uk/go/about-us/alternatives/ For an aggregator of hedge fund news see www.netvibes.comamiemurray