Canadian manager receives global alternative investment award

Date: Wednesday, March 24, 2004

SciVest Market Neutral Equity Fund recognized as top performing hedge fund: Dr. John Schmitz, founder and managing director of SciVest Capital Management Inc. of Toronto, has been named the top performing emerging and mid-stage equity market neutral manager globally for 2003 by Global Alternative Investment Management (GAIM) for the GAIM 2004 Absolute Winners Gallery.

GAIM Awards recognize outstanding performance and achievements in the alternative investment industry. The award for top performing equity market neutral fund is based on results calculated from the Tremont TASS database. TASS, a partner in the GAIM awards, tracks the performance of over 3,000 hedge fund managers from around the world.

"Canadian mutual funds tend to cater to Canadian investors. When you enter the world of alternative investments, you are truly competing in a global arena" said Schmitz, in a news release. "We have consistently said SciVest performs well in this global arena and now this award not only proves it, but shows that we are competitive with investment managers around the world."

With over $210 million of assets under management, SciVest focuses exclusively on managing equity market neutral portfolios.

The award will be formally conferred on June 8, in Beaulieu, Lausanne, Switzerland at the 10th Annual GAIM Forum, the world's largesthedge fund industry event. Schmitz has been invited to address the forum delegates on his award winning strategy.