Bennelong remains modestly optimistic on improving global economic activity while enjoying December's rally in the Materials, Energy and Small Cap sectors.

Headland finishes 2010 with a strong December result on the back of short US$ positions, and gains in soft commodity prices due to adverse weather conditions.

Optimal Australia closes 2010 up 13.64% for the year, with a positive performance in every month, but with a cautionary comment on risk in Australia's two speed economy.

Fortitude continues to benefit from the high level of merger and acquisition activity in November

Merricks\\' Multi Strategy Fund benefits across all three sub strategies in November, with Event Driven leading the way

Herschel's Australian equity long/short fund makes broad based gains in November, particularly in mid cap resource stocks.

Bennelong assume a more positive (albeit only modestly) outlook for the US economy, but remain watchful and selective.

Optimal continue to tread warily, but are maintaining net equity exposure at the upper end of their recent band of 5-35%.

MM&E Capital enjoys a positive month in spite of market concerns over European sovereign debt and Korean instability

AR Capital remain confident that markets will eventually respond to a combination of recovering US employment outlook and economy, strong activity in Germany and China, and improving global leading indicators.