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Norshield Elevates Risk Management Platform


Date: Monday, March 17, 2003

Norshield Financial Group, an established manager of hedge fund-of-funds in Canada, today announced an agreement with RiskMetrics Group, a leading New York-based risk analytics and technology firm, to expand its use of RiskMetric’s systems which were first implemented in 2002. Norshield has elevated its already comprehensive risk management platform to the next level by implementing RiskMetrics Group's full suite of risk management systems, which are tailored specifically for the hedge fund industry. Norshield has now significantly upgraded its ability to comprehensively manage risk on a daily basis and improve risk-adjusted returns through active risk management. “This move to use the RiskMetrics Group’s complete risk management systems, coupled with daily position-level transparency, will enable Norshield to continue to push the boundaries of risk management and will enhance Norshield’s considerable knowledge and expertise in this very important area,” stated John Xanthoudakis, Chairman of the Norshield Financial Group. “This represents a substantial advantage for our clients in regards to the pro-active management and reporting of risk.” The RiskMetrics Group’s RiskManager software is a state-of-the-art risk management application that facilitates the instantaneous creation of custom Value-at-Risk reports, stress tests, sensitivity analyses and relative risk reports. Risk information can be broken down and viewed in many ways: by fund manager, by security type, by market sector, and by geographical region. The methodology used is fully transparent and is recognized as an industry standard for the analysis and communication of portfolio risk. “We continue to see increased requests for risk transparency from pensions, endowments, plan sponsors and other institutions who are entering the alternative space,” stated Gordon Yeager, Head of Alternative Investments at RiskMetrics Group. “Clearly Norshield has put themselves at the forefront of providing institutional investors in hedge fund vehicles with the level of information they demand.”