Picton Mahoney closes hedge fund

Date: Thursday, September 6, 2007
Author: Advisor.ca

Picton Mahoney Asset Management has announced that its Market Neutral Equity Fund will be closed to new investments on or before September 28, 2007.

The firm says the decision was made in light of the strong level of capital inflows into the fund and is in keeping with its commitment to providing "nimble" hedge fund solutions.

The fund was introduced in December 2005 to offer Canadian investors returns with low correlation to major stock market indexes and, since inception, has performed independently of the Canadian market, generating positive monthly performance 95% of the time with a beta of 0.17.

Picton Mahoney says those still interested in investing in the fund should speak with their investment advisors before the fund closes to new investments later this month.