"Guru" opens personal investment model to sophisticated investors

Date: Wednesday, July 13, 2005
Author: CNW

"Guru" opens personal investment model to sophisticated investors

    TORONTO, July 13 /CNW/ - Albert Friedberg, the man who Toronto's Globe
and Mail dubbed the "investment guru," has opened to outside investors the
model he uses to manage his family's wealth.
    The model is structured in master-feeder fund format.
    Since the Friedberg Global Macro Hedge Fund Ltd., the Cayman-domiciled
master, began in 2001, returns have averaged 13.7%. Volatility has been 9.46%.
Assets under management total U.S $151.5 mln.
    The Niagara Legacy, the Canadian feeder fund, opened July 8 with $US 3.5
mln. The Legacy offers taxables the advantage of capital gains treatment upon
disposition.
    Friedberg aims for a minimum return of 500 basis points more than the
yield on the U.S. 2-year Treasury Note without undue risk. He manages risk by
allocating assets in inverse proportion to leverage, and to the historical
volatility of his returns in the different asset classes.
    Albert Friedberg has more than two decades experience managing
alternative strategies. Plus, as former Barron's editor Katherine Welling said
of him: "He has his fingers on the pulse of virtually every asset class
extant."
    Asked why he is allowing investors to join him, Friedberg replied:
"Primarily it's because I'm a more conscientious investor when I am
responsible for other peoples' money."
    That said, the Fund has a capacity constraint of U.S. $500 mln, or
approximately $350 mln. more than is currently under management.
    "Beyond $500 mln, slippage begins to outweigh the benefits of
conscientiousness," Friedberg explained.
    Niagara Capital Partners Ltd. is an administrative management firm
offering investments in liquid alternative strategies managed under an
exclusive agreement with Friedberg Mercantile Group Ltd. The Legacy is
Niagara's first fund. The company expects to launch two other funds in early
2006. Niagara is a member of AIMA.
    Friedberg Mercantile Group Ltd. was founded in 1971.

For further information: www.niagaracapital.ca or contact Michael Grant, 
(416) 350-2898, mgrant@niagaracapital.ca