NBCN presents its new off-shore managed account platform offering for investment managers |
Date: Friday, April 20, 2007
Author: Press Release
Montreal, April 19, 2007 – NBCN Prime Brokerage Services, a
specialized alternative investment administration service from National Bank Financial,
and Innocap Investment Management Inc., a wholly owned subsidiary of National
Bank of Canada, are pleased to announce the launch of their new European based
managed account platform for alternative investment managers. This offering
resulted from the integration of Innocap’s Direct Access managed account
platform with the NBCN Prime Brokerage offering.
“NBCN Prime Brokerage clients now have a
superior and efficient way to offer international investors access to their
funds through Innocap’s Direct Access Solution coupled with our prime brokerage
service offering,” said James Niosi, Vice-President of NBCN Prime Brokerage
Services. Canadian managers now have a unique opportunity to expand their
investor base by leveraging this solution.”
The Innocap Direct Access Solution is
implemented in part through a fully managed account platform structure based in
Malta, a member of the European Union for which Innocap acts as investment
advisor. “Innocap’s Direct Access Solution provides a full oversight role for
hedge funds by acting as intermediary between the hedge fund and its investors.
We provide full legal, risk valuation, shareholder administration and overall
administrative functions to the hedge fund manager, while offering complete
transparency and risk monitoring to the investor,” explained Martin Gagnon,
Managing Director of Innocap.
About
NBCN Prime Brokerage
NBCN Prime Brokerage Services, a division of NBCN,
is a specialized administrative service offering solutions for alternative investment funds and fund
managers across equities, options, fixed income, foreign exchange, equity
derivatives and equity finance. Its Synthetic Prime Brokerage offering includes
swaps, forward transactions as well as customized fund structures and
solutions. With an established offshore hedge fund marketing group and PrimeVue
™ technology adapted to the unique needs of hedge fund managers, NBCN Prime
Brokerage Services offers the collective power of National Bank Financial Group
to hedge fund managers, enabling them to supplement commoditized products and
services with other asset structures, customized solutions and transactions.
For more information, please visit the company’s website at www.nbcn.ca.
About
National Bank Financial
National Bank Financial is a leading Canadian
full-service investment bank, with origins dating back to 1902. National Bank
Financial has over 3,400 employees with offices and operations in Canada,
Switzerland, the US, and the United Kingdom. The firm offers financial services
and products to private and publicly owned corporations and institutional investors,
individual investors and government agencies. National Bank Financial has 86
retail offices across Canada and is the dominant provider of third party
brokerage services in the country. For more information, please visit the
company’s website at www.nbfinancial.com.
About Innocap
Innocap
is the end result of 10 years of investments in hedge fund strategies for
National Bank of Canada. Innocap acts as National Bank's asset manager for its
alternative investment activities and is currently advisor for US $2.0 billion
in hedge fund mandates. Innocap's unique managed account
platform increases the user's control over assets since all accounts at the
prime brokers, future clearers, counterparties and bank accounts are opened in
the name of Innocap's clients. This
structure allows for the complete ownership of positions; no money is invested
directly in the managers' hedge fund. Innocap Investment Management Inc. is a
wholly owned subsidiary of National Bank of Canada.
Information (The
telephone number provided below is for the exclusive use of journalists and
other media representatives):
James Niosi
Vice President
National Bank Financial Group
(416) 542-2465
Martin Gagnon
Managing Director
Innocap
(514) 397-5869