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AIMA launches Canadian chapter

Date: Thursday, March 6, 2003

Hedge fund group has 38 founding members. The Alternative Investment Management Association has launched of the AIMA Canada chapter with 38 founding members. "There has clearly been a tremendous response from the hedge fund community in Canada to establish this chapter," said Jim McGovern, chairman of AIMA Canada chapter and CEO, Arrow Hedge Partners Inc. "We are looking forward to fulfilling AIMA's global objectives of education and understanding, sound practices and industry growth." "We are delighted to announce the launch of the AIMA Canada Chapter. It is clear that, as the hedge fund and related industry grows, the need is for localised business communities carefully setting their own agenda," said Christopher Fawcett, chairman of AIMA (globally). "Each of AIMA's Chapters utilises the global strategy and tools of the Association and applies them in a method best suited to the local community. We are committed to assisting this Chapter - as well as all other Chapters and Membership Groups -- to achieve its aims." AIMA is a not-for-profit international trade association whose objectives are: to increase investor education, transparency and promote due diligence and related best practices, and to work closely with regulators and interested parties in order to better promote and control the use of alternative investments. Its membership includes fund of funds managers, institutional investors, hedge funds, prime brokers, exchanges, fund administrators, auditors, lawyers and other service providers. These companies are based throughout Europe, North America, Asia, Australia and the Middle East. The Founding Members of the Chapter are: Abria Financial Group, Aird & Berlis LLP, Arrow Hedge Partners, Inc., Ascendant Capital Inc., Asset Logics Capital Management Inc., Balsam Capital Management Limited, Blumont Capital Corporation, BMO Nesbitt Burns Inc., BNP Paribas Canada, CDP Capital Tactical Alternative Investments, Deloitte & Touche Canada, DeltaOne Capital Partners Corp., Ernst & Young LLP, Genoa Capital Inc., Goodman Institutional Investments Inc., Goodwood Inc.,Hillsdale Investment Management Inc., Horizons Funds, J C Clark Ltd, Kangas Consulting, Inc., Maple Financial Alternative Investments, McMillan Binch LLP, Mercer Investment Consulting, Norshield Asset Management (Canada) Ltd, Ontario Municipal Employees Retirement System, Polar Securities Inc., PricewaterhouseCoopers, RBC Capital Markets Rosseau Asset Management Ltd., Scivest Capital Management Inc., Silvercreek Management Inc., Stonehedge Funds Inc.,The Bank of Nova Scotia, TD Securities Inc., Torys LLP, Tremont Investment Management, Inc., Vertex One Asset Management, York Hedge Fund Strategies Inc. The executive of the chapter for 2003/2004 will be: Chairman and AIMA Council Member (Canada) -- Jim McGovern, Arrow Hedge Partners, Inc. Deputy Chairman -- David Jarvis, Ascendant Capital Inc. Legal Counsel -- Gary Ostoich, McMillan Binch LLP. Treasurer -- Jow Lee, Rosseau Asset Management Ltd. Secretary -- Stephen Kangas, Kangas Consulting, Inc.