Avenue Financial teams up with Van Hedge Fund Advisors-Van to manage fund of funds product

Date: Tuesday, March 30, 2004

Avenue Financial Corp. has entered into an agreement dated with Van Hedge Fund Advisors International, Inc. to provide access to customized world class hedge funds for Avenue's structured share product launch.

Van will manage a customized fund of funds product, which will provide investors the benefits of diversification and access to hedge fund managers that may not otherwise be available.

Van, a hedge fund industry pioneer, is recognized globally for its Hedge Fund Indices. The firm maintains what it believes to be the largest hedge fund database in the world with over 5,900 funds, which it uses to produce the monthly Hedge Fund Indices of U.S. and offshore hedge fund performance.

"It is truly an exciting opportunity to be able to provide our structured shares access to customized product managed by Van International, whose experience, global outlook and extensive research and innovation will provide investors access to a world class manager considered a pioneer in the hedge fund industry," said Colin Berrie, senior VP of Avenue, in a release.

Avenue's structured share offering will be sold by its affiliate Avenue Global Asset Management Inc., through investment advisors and planners in select jurisdictions within Canada.

The structured shares will offer high net worth Canadian investors and select institutions access to top-performing global hedge fund managers such as Van together with a unique value-added capability to "switch" their initial capital amongst multiple managers on a tax-deferred basis.