Abria wins Canada’s best Fund of Hedge Fund Award

Date: Thursday, December 9, 2004

The Abria Diversified Arbitrage Trust was honored in the Canadian first ever investment award at a gala in Toronto. The fund is managed by Abria Financial Group. The Abria fund is ranked the best Risk-adjusted Alternative Strategy fund in Canada. Abria Financial Group's CEO and chief investment officer Henry Kneis received the award on behalf of the group. He thanked the Canadian investment community for selecting his management firm for such a coveted award. He also remarked that hedge funds have a growing importance in the Canadian market. Kneis said, "Since our beginning in 1999, our management team has stayed focused on low risk and stable, attractive returns and this has been our greatest strength. For the last two years, Paterson & Associates of Toronto has ranked us the number one risk-adjusted Alternative Strategy Fund in Canada. Likewise, MAR/Hedge in New York ranked us the number one Fund of Hedge Fund globally in June 2003 for risk-adjusted returns. Our goal has always been to provide investors with a superior product.” Kneis added, "We need to get the message out that not all hedge funds are the same, and that our low-risk approach is a proven winner. Correctly managed, a market neutral fund of hedge funds is not subject to the vagaries of the broad markets and can consistently deliver positive returns." According to the press release, “The Canadian Investment Association selection process for award winners was expanded this year. It involves an industry-wide review of all candidates, with both quantitative and qualitative analysis. Winning funds had to demonstrate outstanding absolute, relative and risk-adjusted performance.”