Arrow Hedge Partners Inc. Announces the Closing of Arrow Goodwood Fund

Date: Wednesday, July 13, 2005
Author: CNW

Arrow Hedge Partners Inc. Announces the Closing of Arrow Goodwood Fund

    TORONTO, July 13 /CNW/ - Jim McGovern, Managing Director and CEO of Arrow
Hedge Partners Inc. of Toronto, Canada today announced the closing of the
Arrow Goodwood Fund (the "Fund") to further direct purchases effective
August 12, 2005. The Fund is advised by Goodwood Inc, which is an asset
management company based in Toronto, Canada. The reason for the closing is
that the Fund has reached $85 million (CAD) in assets, which was the capacity
arrangement agreed upon by Arrow and Goodwood.
    The Arrow Goodwood Fund continues to be one of the best performing
long/short equity funds in Canada, and after August 12, 2005 the Arrow
Goodwood Fund will only be available through Arrow Hedge's fund of funds
products: the Arrow Multi-Strategy Fund and the Arrow Global Equity Long/Short
Fund. The Fund's investment objective is to maximize returns through the
purchase and short sale of primarily Canadian and U.S. listed equity
securities.

    About Arrow Hedge Partners Inc.
    Arrow Hedge Partners Inc. is an investment management company that
specializes in providing access to high quality hedge fund managers and  
multi-manager fund of funds to a wide range of clients including family
offices, institutions, pension funds and high net worth individuals. Arrow
Hedge distinguishes itself as a hedge fund leader in Canada by adhering to
three key principles - Focus, Risk Management, Integrity - in its products,
investment philosophy, rigorous manager selection process, ongoing monitoring
and risk management procedures.

    Arrow Hedge Partners Inc. is a member of AIMA (Alternative Investment
Management Association) and is a substantial co-investor in its own funds.
    Arrow Hedge Partners Inc. is headquartered in Toronto, Canada, with sales
offices in Vancouver, Calgary, Ottawa, Montreal and a research office in
Geneva, Switzerland. Arrow Hedge currently manages over CDN$500 million on
behalf of Canadian retail and institutional investors.

    About Goodwood Inc.
    Goodwood Inc. is an asset management company based in Toronto, Canada
whose funds are managed by Peter Puccetti, CFA and Cam MacDonald, CFA. The
Goodwood Fund, established in 1996, and the Fund managers select long and
short positions on the basis of a "bottom up", security-specific approach. The
portfolio is relatively concentrated and normally does not exceed 25 to 35
positions.

For further information: More information on Arrow Hedge Partners and 
its products can be found on www.arrowhedge.com, the company's website, or 
contact: Mr. Jim McGovern, Managing Director, CEO, Arrow Hedge Partners Inc., 
(416) 323-0477, ext. 222, jmcgovern@arrowhedge.com; Mr. Mark Purdy, CFA, 
Managing Director, Portfolio Management, Arrow Hedge Partners Inc., 
(416) 323-0477, ext. 223, mpurdy@arrowhedge.com