Former Canadian mutual fund pro launches space and aeronautics fund

Date: Tuesday, February 14, 2006
Author: HFN Daily Report

Stephen Rogers, a former large cap U.S. growth portfolio manager at Canadian mutual fund firm AGF Management, is launching a hedge fund focused on opportunities in the space and aeronautics industries. The fund, titled the Albireo Space & Aeronautics Fund, will long and short equities in the space and aeronautics fields. The fund will also make use of options, futures and leverage to enhance returns.

The fund will look at companies in a wide variety of space and aeronautics-related fields, such as aircraft parts, GPS, space tourism, avionics, satellite-based communications and air traffic control systems. He added there will be a lot of aerospace opportunities based on increased production at large aircraft manufacturers such as Boeing and Airbus due to Chinese demand for planes. The fund has a minimum CAN$150,000 ($129,850) investment and will open to Canadian investors April 1, though Rogers said he plans to launch an offshore version shortly.