Growth for Canada’s iPerform Hedge Funds

Date: Friday, August 2, 2002

After seeing its assets mushroom to C$300 million (US$190 million) since the beginning of the year, Canadian hedge fund distributor iPerform is gearing up for its next spurt of growth with the recent hires of three mutual fund industry veterans—Pierre Novak, Dan Gosselin and Paul Perrow. Mr. Novak, previously with Trimark and Zenith Alternative Investments, was appointed vice president of marketing and sales for iPerform. Mr. Gosselin, formerly of Wood Gundy CIBC World markets and Midland Walwyn Merrill Lynch, joined as managing director of capital markets and corporate finance. Mr. Perrow, who previously held senior posts at C.I. Funds and Merrill Lynch Investment Managers Canada, was named to the newly created position as director of business development. The pioneering Toronto-based hedge fund distributor has seen dramatic growth by tapping a growing interest in hedge funds among Canada’s mass affluent and retail markets. In a short time, the firm’s staff has grown from nine people to 36 professionals, including a sales team of 18.