Integrity Research releases new study showing high level of demand for investment strategy advice among hedge funds and mutual funds.

New York, NY, November 6, 2008 — Investment strategy advice, already one of the most popular forms of investment research, stands to gain more converts as a result of the current crisis according to Integrity Research, a specialist research firm covering the investment research industry.

In its latest edition of ResearchFocus℠, which reviews key segments of the research industry, Integrity identified thirty-seven independent investment strategy firms, up from seventeen firms ten years ago. “Like macro hedge funds, strategy firms thrive in this kind of environment” says Michael Mayhew, Integrity’s chairman and co-author of the study. “Going forward it’s going to be a tough environment for investment research generally but strategy firms will fare better than most other types of research.”

Investment strategy firms, which provide portfolio-level recommendations as opposed to security-level analysis, comprise less than 25% of economic research firms in terms of the number of firms yet they have a 44% share of revenues for the economic research category according to Integrity Research.

The majority of investment strategy firms use macroeconomic analysis as the basis for their strategy recommendations. “An increasing number of strategy firms draw on methodologies outside of economics,” says Nathan Bragg, research analyst and co-author. “Some of the more innovative firms are drawing on external experts or applying social networking technologies. Investors like new investment ideas and are increasingly willing to find alternative sources for those ideas.”

Integrity surveyed over 180 hedge funds and long only investors to better understand how they use investment strategy, which strategy firms they prefer, and why. The survey was used to help evaluate the firms, and also to understand the dynamics of the investment strategy segment itself.

Integrity selected 2008 Top Picks for Investment Strategy in four categories: Macro, Hybrid, Alternative-based, and Thematic. Evaluations of the research providers are based on inputs from institutional investors and Integrity’s own assessments.

Integrity’s 101-page ResearchFocus℠ report includes comparative analysis of investment strategy firms, results of Integrity’s survey of buy-side users of investment strategy, discussions of the top investment strategy firms, and reports on each of the thirty seven strategy firms.

The report is used as a “buyers guide” by research directors and analysts at institutional investors. For additional information on the current edition of ResearchFocus℠ go to http://www.integrity-research.com/cms/isreport or contact Matthew Bannister at 212.845.9088 x6851.

About Integrity Research
Integrity Research Associates, LLC is an information and solutions provider specializing in the investment research industry. Its institutional investor clients use Integrity’s services to find new research providers and monitor existing ones. Integrity ResearchSelect® provides confidential, customized searches tailored to investors’ requirements. Integrity covers over 1,900 research firms in the U.S., Europe and Asia. Additional information about Integrity can be found at www.integrity-research.com.

Integrity ResearchSelect is a registered trademark of Integrity Research Associates, LLC. Integrity ResearchFocus is a service mark of Integrity Research Associates, LLC.

To learn more about this report, please contact:

Michael Mayhew
Tel: 212-845-9088 x6859
Email: Michael.Mayhew@integrity-research.com

Nathan Bragg
Tel: 212-845-9088 x6854
Email: Nathan.Bragg@integrity-research.com