Canadian iPerform Sees Big Asset Growth Ahead

Date: Friday, October 4, 2002

Hedge fund firm iPerformance Fund Corp. expects to reach C$1 billion (US$629 million) in assets by the end of 2003, according to executives for the firm. Speaking at a conference call for the publicly traded company, President and Chief Executive Toreigh Stuart said that a combination of existing hedge funds and planned funds should allow the firm to grow significantly in coming months. The firm currently manages C$290 million. Part of that growth will come through a recently signed joint venture agreement to distribute funds managed by Man Investment Products Inc.* in Canada, iPerform execs said. Mr. Stuart said the firm is working on creating a product around Man’s established IP 220 approach, which combined futures with hedge funds overseen by sister company Glenwood, Chicago.