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Canada Day Launch Set for New Hillsdale Fund


Date: Monday, June 27, 2005
Author: Christopher Faille, Reporter www.hedgeworld.com

Hillsdale Investment Management, Inc. announced the impending launch of a new long/short hedge fund focusing entirely on Canadian equities.

The new vehicle, the Canadian Aggressive Hedged Equity Fund LLC, will be domiciled in the Cayman Islands and will have a Delaware LLC structure to accommodate US taxable investors.

The president of Hillsdale, Christopher Guthrie, said in a statement, "Our proprietary technologies and our sophisticated research capabilities are the foundation of our disciplined approach to portfolio management." He added that Canada is a good place in which to invest because it harbors structural inefficiencies to exploit—inefficiencies that Hillsdale's investment process targets.

The fund's launch date is July 1, Canada Day (the British North American provinces first federated under the name Canada on July 1, 1867.) At launch, Hillsdale expects that it will have assets under management of US$2 million, with US$15 million committed by August 1. The fund's objective, in the hands of portfolio managers Arun Kaul and Tony Batek, is to deliver three-year returns in excess of the S&P/TSX Composite Index with a risk budget of less than index volatility and a low beta exposure to the market.

Hillsdale was founded in 1996, and has been managing long/short strategies since 1997.

The new fund's service providers are as follows:

Investment Adviser: Hillsdale Asset Management International Prime broker: Credit Suisse First Boston Administrator: Admiral Administration, Ltd. Auditor: Deloitte Touche Counsel (US): Arnold & Porter Counsel (Cayman): Quin & Hampson.