JPMorgan Hedge Fund Services To Provide Fund Administration And Custody Services To Over $10bn Of FRM Fund Of Hedge Funds Assets

London.- JPMorgan Hedge Fund Services today announced it has been appointed to provide Fund Administration and Custody services to funds of hedge funds managed by Financial Risk Management (FRM).

JPMorgan Hedge Fund Services will provide fund accounting, financial reporting, transfer agency, partnership allocations and custody services to over $10bn of assets in portfolios managed by FRM.

Part of JPMorgan Hedge Fund Services’ growth strategy is to build on its success providing custody and related services to hedge funds and traditional asset management firms by increasing its focus on serving the funds of hedge funds industry. As part of this commitment, JPMorgan has developed compatible and highly automated administrative and custodial products specifically to serve funds of hedge funds, which are being used by FRM, a leading global player in the market.

Robert Caporale, global head of JPMorgan Hedge Fund Services, said: “FRM’s history of leadership, investment performance and innovation in the fund of hedge funds market makes them an ideal partner for us. We are delighted that JPMorgan has been chosen to provide this service.”

Brian Robinson, Group CEO of FRM said: “The appointment of JPMorgan reflects our desire to consolidate our fund services business with a leading industry provider that can serve our investors on a global basis. JPMorgan’s Hedge Fund Services business has operations in five countries with plans to increase this number. As a result, we think that JPMorgan is in the best position to service our funds and investors worldwide.”

The FRM assets will be transitioned during 2007, subject to any necessary regulatory approvals.

For more information about JPMorgan Hedge Fund Services, please visit www.jpmorgan.com/visit/hfs. JPMorgan Hedge Fund Services is part of JPMorgan Worldwide Securities Services.