Hedge fund reallocates investment advisor line up

Date: Wednesday, December 4, 2002

iPerform Strategic Partners Hedge Fund intends to increase the capital allocated to accounts sub-advised by J.C. Clark Ltd. and SciVest Capital Management Inc. The manager of the fund iPerformance Fund Corp., has notified Hillsdale Investment Management Ltd. of its intention to reduce its weighting in the fund from 38% to 31% ($12 million). The J.C. Clark and SciVest accounts will be allocated an additional $5 million and $7 million respectively. At present the J.C. Clark and SciVest accounts represent roughly 6% and 4% respectively of the net assets of the fund. Upon completion of the reallocation both accounts will each comprise 9% of the fund. According to the fund manager, the increased weighting of the J.C. Clark and SciVest accounts will better position the fund for achieving capital appreciation while at the same time mitigating volatility. Unaffected by the reallocation are the Sportt account, sub-advised by Sprott Investment Management and the Gabelli account sub-advised by Gabelli Securities International Limited which comprise 34% and 17% respectively of the net assets of the fund.