Hedge Funds

Beneat to start new global equity fund

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Daniel Beneat, manager of the top-performing Dreyfus Premier Emerging Markets mutual fund, has quit to form a new company, Worldeye Capital, and to launch a global equity long/short flagship fund due to go live at the end of March.

Under Beneat's guidance, the Dreyfus fund was one of the best performing mutual funds in its sector, consistently outperforming both benchmark and peer group.

The fund has returned 52.5% in 2003, 26.9% in 2004 and 5.9% so far in 2005. The three-year total return is 19.44% to March 2005, as against the MSCI EAFE return of 7.15%, according to