Announcements

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AIMA Canada Expands National Footprint

Regional Committees Established in Alberta and British Columbia to

Complement Existing Regional Committee in Québec

 Toronto ON – January 22, 2013 ─ AIMA Canada, the Canadian national group of the global Alternative Investment Management Association (AIMA), today announced the establishment of two new regional committees in Alberta and British Columbia. This announcement follows the 2010 creation of a regional committee in Québec and reflects the growth of the alternative investment industry across Canada and AIMA Canada’s growing national footprint.

Established in 2003 as the voice of the hedge fund industry in Canada, AIMA Canada has approximately 100 corporate members involving over 250 individuals, including hedge fund managers, fund of hedge funds managers, prime brokers, legal and accounting firms, institutional investors and fund administrators. Its objectives include promoting transparency, education and sound practices, as well as liaising with regulatory authorities. AIMA Canada is governed by a national Executive Committee and five subject matter sub committees led by prominent members of the Canadian hedge fund community.

AIMA Canada committees are comprised of volunteers working for AIMA Canada member companies. The leadership teams of the regional committees will include:

Alberta:

Co-Chair: Leslie Vickers, Controller, Grafton Asset Management
Co-Chair: Basil D’Souza, Director, Auspice Capital Advisors
Secretary: Peter Harris, Senior Manager, Audit and Assurance Group, PricewaterhouseCoopers LLP

British Columbia:

Co-Chair: Jonathan Lotz, Partner, Heenan Blaikie LLP
Co-Chair: Roland Wood, Sales Manager, Fiera Capital Corporation

 

Québec:

Co-Chair: Claude Perron, Chairman, Crystalline Management Inc.
Co-Chair: Stéphane Amara, Head of Deutsche Asset & Wealth Management Canada
Secretary: Lynda Briant, former COO, AIMA Canada

In making the announcement, AIMA Canada Chair Gary Ostoich, President of Spartan Fund Management, said: “We are delighted to welcome this group of distinguished industry leaders to our national organization. The creation of these new regional committees represents the next logical step in the development and growth of AIMA Canada as a national entity and further enhances our contribution to the industry and our growing membership.”

 

Mr. Ostoich explained that the mandate of the newly-formed regional committees includes: providing a forum for issues affecting regional hedge fund managers and associated service providers; assuring that the association’s mandates are carried out regionally; and working with the various subject-matter committees to coordinate events tailored to local markets.

About the Alternative Investment Management Association (AIMA)

AIMA is the hedge fund industry's global, not-for-profit trade association with over 1,300 corporate members (with over 6,000 individual contacts) in more than 40 countries worldwide.

Members include hedge fund managers, fund of hedge funds managers, prime brokers, legal and accounting firms, investors, fund administrators and independent fund directors. They all benefit from AIMA’s active influence in policy development, its leadership in industry initiatives, including education and sound practice manuals and its excellent reputation with regulators.

Association (AIMA), was formed in March 2003 to act as the voice of the alternative investment industry in Canada. AIMA Canada now has about 100 corporate members and in 2012 published its AIMA Canada Handbook which can be found on the AIMA Canada website at www.aima-canada.org

   

AIMA Canada, the Canada National Group of the Alternative Investment Management
Media Contacts:

 

AIMA Canada
James Burron
416-453-0111
jburron@aima-canada.org

 

Francis Communications
Barry Francis
416-876-3204
barry@franciscommunications.com

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Spartan is pleased to announce the launch of the Teraz Fund

Toronto, Ontario – October 3, 2012 – Spartan Fund Management Inc. is pleased to announce the launch of the Teraz Fund. Teraz' objective is to provide investors with

long term capital growth by investing in a diversified portfolio of Canadian smalland micro-cap companies.

The Fund invests utilizing 3 strategies: long positions in early stage companies run by successful entrepreneurs, including start-ups, listed cash-rich shells and merger and acquisition candidates; opportunistic investing, including deep value, arbitrage, theme investing and technical trading; and short positions in companies with suspected fraud, questionable management and over-promotion. Individual positions are limited to 5% of the Fund, based on cost. No investments are made in private companies and no leverage is used.

Teraz' Chief Analyst & Strategist is Mark Zaret. Since 2003 Mr. Zaret has been the principal of Teraz Holdings Inc., a private investment company that trades equities (long and short), options, currencies, futures, provides equity to start-ups and offers financial consulting services to corporations. Mr. Zaret has traded successfully for over 20 years, having achieved a long term growth rate of over 20% annualized. He has developed his own proprietary databases and comprehensive approach to investing. Mark is a graduate of The University of Western Ontario and York University.

More information about the Teraz Fund, including monthly reports, can be found on Spartan’s web site: www.spartanfunds.ca

   

Spartan Fund Management Inc. is a Toronto-based private wealth management firm advising a number of private funds on behalf of high net worth and institutional clients. Spartan aims to attract the most talented investment managers and analysts from a variety of backgrounds - typically institutional money managers or proprietary bank traders - that have proven expertise within a well defined investment strategy.

Spartan provides the operational and risk management infrastructure that enables our investment professionals to focus on what they do best: optimize the balance between risk and reward for clients. To find out more, please visit www.spartanfunds.ca.

   

Contact:
Gary Ostoich
gostoich@spartanfunds.ca
100 Wellington Street West, Suite 2101
Toronto, Ontario M5K 1J3
T: (416)601-3171

 

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Eze Castle Integration Expands Award-Winning Private Cloud Services to Asia

HONG KONG – November 14, 2012 – Eze Castle Integration, a leading provider of strategic IT solutions and private cloud services to hedge funds, today announced it has expanded its Eze Private Cloud services to Hong Kong and Singapore. With this expansion, the hedge fund industry’s preferred private cloud now spans three continents and provides firms seamless access to the technology and key applications required to operate effectively and efficiently.

 

The Eze Private Cloud is used by more than 2,000 hedge fund professionals worldwide to simplify operations, minimize upfront capital costs and gain a highly resilient, enterprise-grade IT infrastructure on par with billion-dollar funds. Hedge funds based in Hong Kong and Singapore now have access to a range of offerings from the Eze Private Cloud, including the Eze Managed Suite and application hosting. The Eze Managed Suite is a hosted IT solution providing firms with a fully managed infrastructure and key business applications. The Eze Managed Suite gives users file services, email, software applications, mobile services, email security, disaster recovery and 24x7x365 support.

 

“Eze Castle Integration sees tremendous opportunity for private cloud services in the Asia Pacific region as hedge funds around the world embrace the cloud to streamline and enhance their operations,” said Serge Bukhar, executive director of international operations, Eze Castle Integration. “This latest expansion of the Eze Private Cloud reinforces our commitment to being the global technology partner to the hedge fund industry and fills a market need for fully managed cloud services that combine premier technology with exceptional client support.”

 

Eze Castle was ranked the number #1 cloud computing provider in the Hedge Funds Review Service Provider Rankings (2012) and HFMWeek named Eze Castle the ‘Best Cloud Computing Provider’ in its US Hedge Fund Services Awards 2012.

 

Additional resources:

·  Hedge Fund Cloud Forum: http://www.eci.com/cloudforum/

·  2012 Cloud Adoption Trends Report: http://www.eci.com/knowledge-center/cloud-adoption-survey-results.html

·  Hedge Fund IT Blog: http://www.eci.com/blog/

 

About Eze Castle Integration

Eze Castle Integration is the leading provider of IT solutions and private cloud services to more than 600 alternative investment firms worldwide, including more than 80 firms with $1 billion or more in assets under management. The company’s products and services include Private Cloud Services, Technology Consulting, Outsourced IT Support, Project & Technology Management, Professional Services, Telecommunications, Business Continuity Planning and Disaster Recovery, Archiving, Storage, Colocation and Internet Service. Eze Castle Integration is headquartered in Boston and has offices in Chicago, Dallas, Geneva, Hong Kong, London, Los Angeles, Minneapolis, New York, San Francisco, Singapore and Stamford.

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ARROW HEDGE REBRANDS AS ARROW CAPITAL MANAGEMENT

• C$1.2bn AUM asset manager expands its’ horizons to European market with joint

venture

• Significant lessons should have been learned by the industry; transparency and

capital protection are absolutely key

• Launch new website at www.arrow-capital.com

(TORONTO – 09 MAY 2011) – To strengthen their goal of offering leading investment products

globally, Canadian asset management veteran, Arrow Hedge Partners, is expanding its presence in

the UK through new firm, Generation Asset Management (G2AM).

The move coincides with a full corporate rebrand. After ten years as Arrow Hedge, the successful

Canadian fund manager is changing its name to Arrow Capital Management (“Arrow”).

The firm was founded in 1999 by Jim McGovern, former CEO and co-founder of BPI Financial

Corporation ("BPI"), a Canadian based investment manager; with the belief that true, active

management would lead to superior investment results, through down-side protection and solid,

long-term growth. This is an approach that Arrow believes relies more on manager skill, than on

market direction, to produce investment returns.

This belief has never changed. Consequently, Arrow has grown to one of the largest and most

experienced alternative investment managers in Canada, managing over C$1.2bn. The Arrow

offering consists of four principal funds that use a fund of hedge funds approach to investing.

Arrow also offers 14 single-manager hedge funds that invest following specialized investment

mandates. Arrow's flagship fund, Arrow Diversified Fund, returned 8% last year.

Jim McGovern, CEO of Arrow Capital Management, said: “We are very excited to be entering a

joint venture with Generation Asset Management in London. It is a great opportunity for us to

extend the institutional platform that we have built in Canada to European investors. We are

exceedingly optimistic about the strength of the combined teams.”

“In all of our products, we aim to continue offering best-in-class and innovative solutions to meet

our investors’ ever-changing investment needs. Capital protection is our first priority, and

transparency is at the core of everything we do. These principles will be mirrored in our

partnership with Generation” added Mark Purdy, Managing Director & CIO of Arrow.

Arrow’s views of the importance of transparency are as follows:

• There is no other way to monitor risk within a strategy.

• It is the only way you can monitor style drift – holdings may not be consistent with the

strategy.

• It is the only way you can roll up the fund of fund to monitor both exposure and risk.

• Allows you to better “pair up” strategies when possible, leading to a better risk/return for

the investor.

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Enquiries: Max Hilton/Daniel Jason, Peregrine Communications

Tel (Direct): +44 20 3178 6873/+44 20 3178 2496

Tel (Mobile): +44 7950 003 138/+44 7941 225 651

max.hilton@peregrinecommunications.co.uk

daniel.jason@peregrinecommunications.co.uk

ABOUT ARROW CAPITAL MANAGEMENT

The team has an established process for screening and identifying highly skilled managers

globally. These managers are vetted and put through Arrow’s rigorous due-diligence process, with

the objective of each manager aligning with Arrow’s philosophy and core values (skill, integrity,

experience and focus on risk management). With research offices around the globe, Arrow has an

extensive network of resources and intelligence that allowed the firm to develop a unique topdown

global perspective. This macro view is combined with a comprehensive bottom-up process in

manager selection in order to generate Arrow’s portfolio construction.

With capital protection paramount to Arrow’s proposition, the firm offers multi-manager portfolios

to form the core of a client’s investment portfolio, and single manager mandates for clients looking

to complement an existing portfolio. Arrow can also create bespoke customized portfolios designed

to meet a client’s investment objectives.

Through our funds of hedge funds, Arrow has created the opportunity to invest with talented

investment managers globally. Arrow’s globally diversified client base includes pension funds and

institutions, as well as family offices and high net worth investors.

With transparency at the root of Arrow’s investment case, the team is made up of seasoned

portfolio managers, giving clients access to some of the world’s best alternative investment fund

managers. Arrow currently employs 31 staff and 5 principals.

 

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Winner of 2010 AIMA Canada- Hillsdale Research Award Announced

Toronto, April 19, 2011- The Alternative Investment Management Association-Canada Inc. (AIMA Canada) and Hillsdale Investment Management Inc. (Hillsdale) are pleased to announce that the winners of the 2010 AIMA Canada-Hillsdale Research Award (ACHRA) are Alexandre Hocquard, Sunny Ng and Nicolas Papageorgiou of Brockhouse Cooper and HEC Montreal.

The winning paper, entitled ‘A Constant Volatility Framework for Managing Tail Risk’, presents research which suggests that strategic asset allocation based on Modern Portfolio Theory is neither a sufficient nor reliable risk-management tool during crises. The authors’ research shows that the failure of strategic asset allocation as the sole risk management technique can largely be attributed to the fact that volatility is not stable over time and historical correlations between asset classes tend to break down during periods of market stress. Conventional tail-risk hedging techniques such as the use of options, swaps, and other insurance instruments can be costly and implicitly create a drag on portfolio performance. In response, the authors demonstrate that investors can better manage tail risk and improve risk-adjusted returns by seeking to maintain a constant level of volatility. This can be achieved by using futures contracts to dynamically adjust their portfolio's exposure in response to changes in the prevailing level of market volatility.

Messrs. Hocquard, Ng and Papageorgiou will share the cash prize of $10,000 for their submission, which was selected among entries from both Canadian investment professionals and academics. The winning submission was determined by an independent adjudication panel chaired by Paul Bates, Dean of the DeGroote School of Business at McMaster University. The panel consisted of leading academic faculty from business schools across Canada. In addition to receiving the cash award, a condensed version of the winners’ paper will be published by Canadian Investment Review and made available on its website at www.investmentreview.com. The full paper is available on both the AIMA Canada and Hillsdale websites.

In congratulating this year’s recipients, we are reminded of the increasingly high standard set by ACHRA award winners in each of its six years. The award was created to encourage and recognize high-quality applied research in the field of alternative investments in Canada. As such, we welcome future contributions from academics, students and practitioners who are either Canadian residents or Canadian citizens living abroad. We look forward to another round of high-quality ACHRA submissions for 2011.

AIMA Canada and Hillsdale entered into a partnership in December 2008 to ensure the continuity and success of this prestigious and important research award. The award was originally established in 2004 and, in recognition or the Hillsdale partnership, is now known as the AIMA Canada- Hillsdale Research Award.

About the Alternative Investment Management Association (AIMA)

AIMA is the hedge fund industry's global, not-for-profit trade association with over 1,200 corporate members (with over 5,000 individual contacts) in more than 40 countries worldwide.

Members include hedge fund managers, fund of hedge funds managers, prime brokers, legal and accounting firms, investors, fund administrators and independent fund directors. They all benefit from AIMA’s active influence in policy development, its leadership in industry initiatives, including education and sound practice manuals and its excellent reputation with regulators.

 

AIMA Canada, the Canadian chapter of the Alternative Investment Management Association (AIMA), was formed in March 2003 to act as the voice of the alternative investment industry in Canada. AIMA Canada now has over 65 corporate members. Additional information on AIMA Canada is available at www.aima-canada.org

 

About Hillsdale Investment Management Inc.

Founded in 1996, Hillsdale is a leading Canadian independent investment boutique, providing a full range of traditional equity and alternative investment strategies to both institutional and individual investors. Hillsdale manages a spectrum of long only, long/short and custom designed strategies employing a core investment style carefully implemented using an adaptive multi-strategy, risk controlled process. Additional information on Hillsdale is available at www.hillsdaleinv.com

For further inquiries:

Media Contacts:

Francis Communications Hillsdale Investment Management Inc.

 

Barry Francis 416-447-7908 barry@franciscommunications.com

 

Chen Yongjian 416-913-3943 CYongjian@hillsdaleinv.com

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PINNACLE FUND ADMINISTRATION EXPANDS NORTH AMERICAN SERVICES WITH NEW VANCOUVER OFFICE

Charlotte, NC, January 4, 2011 –Pinnacle Fund Administration (“Pinnacle”), a provider of full service fund administration services to onshore and offshore alternative investment vehicles, today announces that it has expanded its North American operations with the opening of its Canada office in Vancouver.
Pinnacle Canada Fund Administration Ltd., will be managed by industry veterans David Smith and Keith Donald and will serve the Canadian alternative market as well as strategic international locations.
David Smith, a Canadian Chartered Accountant, is the co-founder of Pinnacle and has over ten years experience in the hedge fund industry. From 2000 to 2004, he practiced in the hedge fund industry in Bermuda, first at Ernst & Young and then, at Prime Management Limited. In 2004 he established Pinnacle Fund Administration LLC in Charlotte, North Carolina. At Pinnacle, David was responsible for the delivery of fund administration services to clients and investors including the development of Pinnacle’s technology platform and operating systems.
Keith Donald, a UK Chartered Accountant has over 12 years experience in the hedge fund industry, practicing in Bermuda between 1998 and 2008 at KPMG and Olympia Capital. Following his move to Canada in 2008 Keith was Chief Executive Officer of CACEIS (Canada) Limited. At CACEIS and Olympia Capital, Keith was responsible for all aspects of operations, including new client integration, business development and client relationship management.
John Kelly, Managing Member of Pinnacle Fund Administration LLC, said “There are tremendous opportunities in the Canadian market. We are also delighted to attract a talented professional of Keith Donald’s calibre to join our team in the next phase of Pinnacle’s growth.”
David Smith, Managing Director, Pinnacle Canada Fund Administration Ltd., said “Opening the Vancouver office allows us to collaborate with our Canadian clients, understanding their local service and regulatory needs whilst leveraging the client service and technology model that enabled our success in the United States market.”

About Pinnacle Fund Administration
Pinnacle Fund Administration is an independent and privately owned full service administration business that provides quality service to onshore and offshore alternative investment vehicles, including hedge funds, fund of funds and private equity funds, irrespective of size or strategy. Hallmarks of Pinnacle’s service include attention to detail by highly trained, experienced and ethical individuals, timely delivery of accurate net asset value calculations, easy to read investor statements, and responsive turnaround of enquiries from interested parties. Pinnacle’s rating of “Best in Class” from the 2010 Global Custodian Survey of 38 administration companies recognized the high quality of its client services and proprietary technology systems.

Media Contacts:

United States John Kelly: jkelly@pinnacleadmin.com or Tel: 704 927 5400

Canada David Smith: dsmith@pinnacleadmin.com or Tel: 604 639 3115
Keith Donald: kdonald@pinnacleadmin.com or Tel: 604 639 3116

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NEW YORK--(BUSINESS WIRE)--Merlin Securities, a leading prime brokerage services and technology solutions provider, today announced that it has launched operations in Canada after receiving approval from the Investment Industry Regulatory Organization of Canada (IIROC) to operate as a Dealer Member. Daniel Dorenbush has been appointed CEO of Merlin Canada Ltd.

“The Canadian prime brokerage landscape is very different from that of the United States”

Merlin Canada will offer custody and clearing through the National Bank Correspondent Network (NBCN), a subsidiary of National Bank Financial, in addition to Merlin’s current roster of U.S. clearing and custodial options.

“We are delighted to have Daniel on board and to be working with NBCN, the Canadian leader in third-party and brokerage services,” said Aaron Vermut, co-founder and COO of Merlin and chairman of Merlin Canada Ltd. “As the first and only introducing prime brokerage services company in Canada we see a significant opportunity both for Merlin and for Canadian managers. We have more than 500 hedge fund clients in the U.S. and one priority – to provide the technology and services that enable our clients grow to their businesses. We look forward to bringing our innovative product suite to Canadian hedge funds.”

As CEO, Dorenbush will be responsible for introducing prime brokerage services and technology solutions to Canadian alternative investment managers. Merlin intends to bring its industry leading proprietary portfolio reporting, trading, and technology solutions to this new marketplace.

“The Canadian prime brokerage landscape is very different from that of the United States,” said Dorenbush. “Apart from the largest Canadian banks, there are no significant competitors in Canada and certainly none who offer Merlin’s combination of cutting-edge technology, trading execution, capital introduction and custody solutions. In this way, Merlin’s entry into the market is a potential game-changer. I’m truly excited about the opportunity to provide Canadian managers with the same tools and competitive advantages that Merlin’s U.S. clients have.”

Daniel Dorenbush was most recently a New York-based managing director and global head of strategic sales and relationship management in the Hedge Fund Services division at RBC Capital Markets. Prior to this he was based in Toronto as RBC’s global head of prime brokerage. Dorenbush is a CFA Charterholder and received his M.B.A. from McGill University and his H.BA from the University of Toronto.

“Merlin Securities is an acknowledged leader in its domain and we are very pleased to contribute actively to its future success,” said David Burnes, executive vice-president and chief operating officer of NBCN. “This decision further establishes NBCN as the leading provider within the Canadian clearing marketplace. NBCN’s flexible service model and national footprint work well with Merlin Securities’ business model and future growth plans.”

Dorenbush is based in Merlin’s Bay Street office in Toronto. Merlin Canada Ltd. is a wholly owned subsidiary of Merlin Securities, LLC.

About Merlin Securities

Merlin is a leading prime brokerage services and technology provider, offering integrated solutions to the alternative investment industry. The firm serves more than 500 single- and multi-primed managers, providing them with a broad suite of solutions including dynamic performance attribution analytics and reporting, seamless multi-custody services, capital development, 24-hour international trading, securities lending experts and institutional brokerage. With offices in New York, San Francisco, Boston, Chicago, San Diego and Toronto, Merlin utilizes the custodial and clearing operations of JP Morgan, Goldman Sachs, Northern Trust and National Bank of Canada. Merlin is a member of FINRA and SIPC. For more information, please visit www.merlinsecurities.com.

About NBCN

Founded in 1990, NBCN is the first and largest supplier of third-party administrative and support services to the Canadian financial services industry. NBCN administers over $50 billion on behalf of more than 100 Canadian financial services firms, including more than 65 IIROC-licensed firms like Merlin Securities, ranging from small boutiques, financial planners and investment counsellors, to large integrated companies. www.nbcn.ca

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Hedge Funds Care Canada Gala Raises More Than C$200,000 for Prevention and Treatment of Child Abuse

Toronto ON November 10, 2010 – Close to 200 leaders of Canada’s hedge fund industry gathered at the Ultra Supper Club in Toronto November 3rd for the seventh annual Open Your Hearts to the Children Gala.
The special fundraising evening organized by Hedge Funds Care Canada raised more than C$200,000 for the prevention and treatment of child abuse, bringing the amount the event has raised for this worthwhile cause to date to more than C$1.2 million.
“We are delighted that all proceeds from the event will go to support local and national foundations that support the prevention and treatment of child abuse,” said Hedge Funds Care Canada President and Director Corey Goldman. “The dollars raised this year will have a very positive impact in fighting the scourge of child abuse in this country.”
The evening’s program included presentation of a special award to fund administrator Citco Canada in appreciation of their innovative fundraising efforts in support of Hedge Funds Care Canada which, through dress-down days raised in excess of C$25,000 this year alone.
Event Chair Caroline Sidle acknowledged the hedge fund community’s “overwhelming response to the gala and the cause it supports,” which she noted was particularly important in these still-challenging times.
She also expressed gratitude for the generous support of Gala sponsors, including lead sponsor Sprott Asset Management, as well as Gigantic Heart sponsors Polar Securities, Scotia Capital, MAN Investments and many others.
Other principal sponsors lending their support to Hedge Funds Care Canada this year include Adaly Investment Management, Arrow Hedge Partners, BMO Capital Markets, Marret Asset Management, RBC Capital Markets, Salida Capital and AIMA Canada.

About Hedge Funds Care
Hedge Funds Care Canada was established in 2004 as a way for the Canadian hedge fund community to give back to organizations that provide prevention services to children and families who are at risk for abuse and/or neglect, and treatment to children who have been victims of abuse.
Hedge Funds Care Canada is part of a global alliance that began 12 years ago in New York and has grown into an international nonprofit organization. To date, Hedge Funds Care has distributed over $23 million through more than 660 grants among its various chapters in Toronto, New York, San Francisco, Chicago, Atlanta, Boston, Denver, London, the Cayman Islands, Twin Cities, and Los Angeles.
Hedge Funds Care is proud to be the only business group solely devoted to combating child abuse, and in 12 years has made a powerful contribution to saving children. Because of the shame associated with child abuse, it remains a dramatically under-resourced and rarely discussed problem.
For additional information please visit www.HedgeFundsCare.org.

Media Contacts:

Hedge Funds Care Canada:
Corey Goldman
416-322-2863
corey@coreygoldman.com

Francis Communications:
Barry Francis
416-876-3204
barry@franciscommunications.com

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SFCS Capital Brings Universa’s Black Swan to Canada

SFCS Capital is pleased to announce that it has developed investment products, which, among other things, provide access to the expertise of Universa Investments LP, an investment management firm founded by Mark W. Spitznagel and for which Nassim Taleb, author of The Black Swan, is the Senior Scientific Advisor. As a consequence of an anchor investment with Universa, SFCS Capital is able to take advantage of Universa’s unique expertise in managing left-tail risk for the portfolio (which is most prevalent during periods of extreme market stress) to offer eligible Canadian investors with investment opportunities that combine upside participation during periods of rising markets with true downside protection on their investment during market crashes and shocks.

“In a world where financial institutions, businesses and governments are inter-connected in ways that are often hard to measure much less ascertain, a large enough crisis will affect all assets and regions just like it did in 2008. Risk in the modern global context is viral and almost instantaneously transmittable from country to country. Portfolio diversification in this context is only part of the solution.” says Claude Bovet, CEO of SFCS Capital. “Because financial markets are often unstable and thus prone to unexpected large losses, we believe that a permanent protection against these “Black Swans” is critical to effective investment management. In this regard, we are extremely fortunate to be able to provide Canadians with access to the insights of Nassim Taleb, the father of the Black Swan philosophy, and the investment expertise of Mark Spitznagel”.

SFCS Capital is a boutique investment management firm uniquely focused on merging capital preservation with positive market returns in all investment environments by incorporating tail-risk protection strategies. SFCS Capital, an affiliate of Swiss Financial & Consulting Services SA, a Geneva-based family office, provides fund management services to accredited investors in Canada through SFCS Capital (Canada) Corp, with head office in Vancouver and a newly-opened office in Toronto, and for other investors through SFCS Capital Ltd based in the Cayman Islands.

SFCS Capital (Canada) Corp recently announced the appointment of Dwayne Dreger to head its expansion strategy in Canada from its new Toronto office. Dreger, a 20 year financial industry veteran, will be responsible for increasing the visibility of the firm’s products across Canada as well as growing its client base, managing its corporate profile and overseeing the Toronto office.

“We are delighted to have been able to attract a recognized business development veteran such as Dwayne Dreger to help us grow our presence in Canada. Dwayne will be instrumental in taking our unique products to the next level of visibility across Canada” says Mr. Bovet.

For more information on SFCS Capital, please contact Dwayne Dreger on (416) 646-7329 and visit: www.sfcscapital.com

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Canadian Margaret Franklin, CFA, to Chair CFA Institute Board of Governors

Boston, Massachusetts, 18 May 2010 -- Margaret Franklin, CFA, has been elected chair of the Board of Governors of CFA Institute, the global association for investment professionals that administers the CFA program worldwide and advocates for high standards of practice within the global investment industry. CFA Institute members concluded their vote for the 2010-2011 CFA Institute Board of Governors members on May 16, 2010 as part of CFA Institute Annual Conference in Boston. Franklin will begin her one-year term on September 1, 2010.

Franklin, CFA, is the President & CEO of Kinsale Private Wealth. Based in Toronto, she has almost 20 years of financial industry experience in investment management with both institutional and private clients. She worked with global institutions including Barclays Global Investors, State Street Global Advisors and Mercer before moving to the private client business. Franklin was a partner in a boutique private client firm for eight years before Kinsale Private Wealth. She is the past chair of the audit and risk committee of the CFA Institute Board of Governors, and has also headed its external relations, and volunteer involvement, and planning committees. She is a past president of the Toronto CFA Society and received the CFA designation in 1997.

Franklin will head a 17-member Board of Governors composed of investment professionals from eight countries: Canada, China, Japan, Singapore, Switzerland, United Arab Emirates, United Kingdom, and the United States. She succeeds Tom Welch, CFA, managing director and regional manager of the institutional client service team at Wells Capital Management in Minneapolis, MN, United States. Each year the CFA Institute membership votes at its annual meeting to elect new Board members.

Welch will continue to serve on the Board as immediate past chair, and Dan Meader, CFA, founder and managing partner of Trinity Advisory Group in Southlake, TX United States, will act as vice chair.
“Now, more than ever, investors, governments and regulators are seeking the highest educational, ethical and professional standards from investment professionals,” said Franklin. “With a commitment to fairness and integrity, CFA Institute is poised to lead the industry in its efforts to regain investor confidence and trust. As a Canadian, I bring the unique perspective of having observed a global financial crisis from a country whose capital markets and financial institutions proved comparatively sound. There is a great deal that industry participants around the world can learn from this Canadian experience.”

Franklin added that, “in the past year, 200,000 people who aspire to be the best in our field showed their commitment to our mission by participating in the CFA Program. They join more than 87,000 CFA charterholders in 132 countries who adhere to our mission and values every day. This is a powerful statement about the future of our profession. CFA Institute, under the leadership of CEO John Rogers, CFA, will play a key role in strengthening the foundation of the financial services industry. On behalf of the Board of Governors, I thank our members for entrusting this organization’s governance to us.”

“Having worked with Margaret on a number of CFA Institute initiatives over the years, I know first-hand that the Board of Governors will be led by an investment professional committed to promoting full disclosure, accountability, and integrity in financial markets,” said Janine Guenther, CFA, Presidents' Council Representative for the Canadian CFA Institute member societies. “Margaret is a credit to our industry and CFA Institute.”

“I am honored to work with Margaret and the other members of the Board of Governors as we continue the tradition of using strong, thoughtful governance to manage our global organization,” said John Rogers, CFA, president and CEO of CFA Institute. “As our members and CFA candidates continue to recover from events of the past two years, CFA Institute is in a strong position to solidify its leadership role and fulfill its mission − to lead the investment profession globally by setting the highest standards of ethics, education, and professional excellence.”

CFA Institute CFA Institute is the global association for the investment profession. It administers the CFA and CIPM curriculum and exam programs worldwide; publishes research; conducts professional development programs; and sets voluntary, ethics-based professional and performance-reporting standards for the investment industry. CFA Institute has nearly 100,000 members, who include the world’s 85,000 CFA charterholders, in 134 countries and territories, as well as 136 affiliated professional societies in 57 countries and territories.