Tremont Advisers Inc – ‘8-K’ for 12/10/99

On:  Thursday, 12/23/99   ·   For:  12/10/99   ·   Accession #:  1050929-99-283   ·   File #:  0-27077

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Form 8-K Current Report                                5     16K 

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8-K
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      SECURITIES AND EXCHANGE COMMISSION
     Washington D.C. 20549

  FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
 THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): December 10, 1999 

TREMONT ADVISERS, INC.  
(Name of small business issuer in its charter)          

Delaware                            33-89966                  06-1210532        
--------------------------------------------------------------------------------
(State or other jurisdiction        (Commission              (I.R.S. Employer   
of incorporation or organization)   File Number)             Identification No.)

555 Theodore Fremd Avenue, Rye, New York              10580                     
--------------------------------------------------------------------------------
(Address of Principal Executive Offices)              (Zip Code)                

Registrant's telephone number, including area code: (914) 925-1140

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ITEM 5.  OTHER EVENTS                                                           

     Tremont  Advisers,  Inc (the  "Company"),  TAL Global Asset Management Inc.
("TAL") and Robert J. Parnell  signed a letter of intent dated December 10, 1999
(the  "Letter  of  Intent")  to enter into a  Canadian  joint  venture to create
TAL-Tremont (the  "Venture"),  a Canadian-based  investment  management  company
designed  to  provide,  manage and  distribute  certain  alternative  investment
services and products,  including,  among others, services and products relating
to hedge funds, hedge fund investment strategies and managed futures. The Letter
of Intent provides that the Company will initially own  approximately 35% of the
Venture. The parties have agreed to execute definitive  transactional  documents
for the  Venture by January  31,  2000,  and the  failure to do so by either the
Company  or  TAL  under  certain  circumstances  may  subject  that  party  to a
CAN$150,000 "break-up" fee.                                                     

ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS                                      

     99.1 Filed herewith is the Company's press release dated December 13, 1999.

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SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.                                          

                                    TREMONT ADVISERS, INC.

Date:  December 23, 1999                       By:    /s/  Stephen T. Clayton   
                                                  ----------------------------
                                        Stephen T. Clayton
                                             Chief Financial Officer
                                                  (Duly authorized Officer and
                                             Principal Financial and
                                         Accounting Officer)

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EXHIBIT 99.1

Press Release 99-7                                                              
FOR IMMEDIATE RELEASE                                                           

Contact:  Robert I. Schulman, President, Tremont Advisers, Inc. - 914-925-1140  
   Robert Parnell, President, Tremont Investment Management, Inc. - 416-643-7155

TREMONT FORMS JOINT VENTURE WITH MAJOR CANADIAN FIRM                            
TO MANAGE AND DISTRIBUTE HEDGE FUND INVESTMENTS                               

Alliance Joins Large Canadian Inst'l Money Manager With Leading Hedge Fund      
Adviser                                                                         

Rye, New York, December 13, 1999 - Tremont Advisers, Inc. (TMAVB) and TAL Global
Asset  Management  today  announced  that they have signed a letter of intent to
enter  into a joint  venture  that will  create  TAL-Tremont,  a  Canadian-based
alternative  investment management company. This alliance will join Tremont, one
of the  largest  alternative  investment  consultants  globally,  with  Canada's
largest, privately controlled institutional money manager.                      

TAL-Tremont  plans to offer a comprehensive  approach to alternative  investment
management.  The firm will seek to integrate  alternative  investment strategies
with traditional active and synthetic index investments.                        

"TAL-Tremont  marks a major  milestone  for  Canadian  investors,"  said  Robert
Schulman,  President of Tremont.  "Interest in alternative  investments has been
growing  rapidly in Canada and  TAL-Tremont  will focus on serving  this growing
market by  customizing  portfolios of alternative  investments  designed to meet
specific risk and return objectives.                                            

"This joint  venture is an event that will  significantly  alter the  investment
management landscape," said Gordon Fyfe, President and Chief Operating Office of
TAL International, a division of TAL Global Asset Management.                   

TAL-Tremont  will tap TAL's  strength as Canada's  largest  institutional  money
manager with expertise in active and passive  strategies on behalf of clients in
Canada, Asia and Europe.  Tremont has extensive expertise in hedge fund research
and the  management of  multi-strategy  hedge fund  portfolios.  TAL manages $50
billion  on  behalf of  institutional  and high net  worth  investors.  Tremont,
through  its  subsidiaries,  consults  on more  than $7  billion  in hedge  fund
investments.  The new company also will benefit from the global  presence of its
two founding  companies.  TAL maintains  offices in Hong Kong and Geneva and has
six offices in Canada.  Tremont  and its  affiliates  have  offices in New York,
London, Bermuda and Toronto.                                                    

    (more)

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         -2-

Robert  Parnell,  President and Chief  Operating  Officer of Tremont  Investment
Management Inc, Tremont's Canadian  subsidiary,  will become President and Chief
Operating Officer of TAL-Tremont.                                               

"This  alliance  represents  a very  powerful  combination  of  traditional  and
alternative  investment  management  capabilities," said Parnell. "The research,
investment  management and  distribution  capabilities  of  TAL-Tremont  will be
without equal in the industry."                                                 

TAL Global Asset  Management is a fully  integrated  firm that  provides  global
asset management for institutional,  private and mutual fund investors. With its
head office in Montreal, TAL is active in all major financial markets, including
those in North  America,  Europe and Asia.  With more than $50 billion in assets
under management,  TAL is the largest privately controlled investment manager in
Canada.                                                                         

Tremont  Advisers,  Inc. is a  diversified  holding  company  that,  through its
subsidiaries,  is  primarily  engaged  in  three  core  businesses:  consulting,
information,  and  investment  products  for the global  alternative  investment
industry.  Through its London-based  information and market  intelligence  unit,
TASS Investment  Research Limited,  the firm provides data on the performance of
more than 2,500 alternative  investment managers and funds.  Tremont consults on
more than $7  billion  in hedge  fund  investments,  including  $700  million in
proprietary funds, and has more than $100 million in insurance policies in force
which  are  invested  in  alternative   investments.   Tremont's   wholly  owned
subsidiary, Tremont Partners, Inc., is registered as an investment adviser under
the Investment  Advisers Act of 1940. Tremont is headquartered in Rye, New York,
and has offices in Toronto, Bermuda and London.                                 

For more information on Tremont Advisers, visit www.tremontadvisers.com         

# # # 

Certain statements in this Press Release constitute "forward looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995. Such
forward looking  statements  involve known and unknown risks,  uncertainties and
other factors which may cause the actual results, performance or achievements of
the Companies to be materially different from any future results, performance or
achievements  expressed  or  implied by such  forward  looking  statements.  The
Companies  assume no obligation to update these  forward  looking  statements to
reflect  actual  results,  changes in  assumption  or  changes in other  factors
affecting such forward looking statements.                                      

5         

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘8-K’ Filing		Date		First		Last			Other Filings
		1/31/00		2
Filed on:		12/23/99		3
		12/13/99		2		4
For Period End:		12/10/99		1		2			4
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