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Monday, April 22, 2024

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TD Bank settles Enron suit
Aug 16/05
Another Canadian bank has settled with Enron over its alleged role in the collapse of the energy trader. TD Bank Financial has agreed to pay a total of $130 million US to settle a number of claims. "We have agreed to a negoti...Read more

Jovian Subsidiary to Acquire Control of Horizons Funds Inc.
Aug 15/05
TORONTO, Aug. 15 /CNW/ - Jovian Capital Corporation ("Jovian")   (JVN: TSX-V) and Horizons Funds Inc. ("Horizons") jointly announce thatJovian's wholly-owned subsidiary Jovian Asset Management Inc. ("JAMI&...Read more

Call for Portus claims
Aug 10/05
Next month, source says: Receiver to ask clients how much placed with firm Wojtek DabrowskiFinancial PostThe receiver of Portus Alternative Asset Management Inc. is set to take a major step forward in determining how much investor...Read more

Tax centres to target tax cheats using offshore sites
Aug 10/05
PETER GEIGEN-MILLER, Free Press ReporterCanadians who use overseas tax havens to evade paying their fair share of taxes will be the target of a new London centre being established by Canada's tax agency. Minister of National Reven...Read more

Abria XL Trust a First for Canada
Aug 08/05
Abria Alternative Investments, Canada's leader inalternative investment strategies, has created a new fund designed to meetindividual investors' expectations for solid returns while keeping risk lowerthan that associated with the ...Read more

CIBC offers $2.4bln settlement in Enron case
Aug 02/05
The University of California, Oakland, secured a $2.4 billion settlement from the Canadian Imperial Bank of Commerce for its role as an adviser to Enron Corp. If approved, it would be the third large settlement the university has ...Read more

Central Bank of Barbados shuts down offshore bank owned by Canadian Norshield
Jul 25/05
The Central Bank of Barbados has shut down the operations of an offshore bank for failing to comply with the provisions of the International Financial Services Act.The regulator seized management and control of Olympus Bank and Tr...Read more

RCMP launch criminal probe of Portus
Jul 21/05
The RCMP’s commercial crime unit has opened a criminal probe into hedge fund company Portus Alternative Asset Management Inc., which collapsed earlier this year. RCMP opened the investigation after examining information from Portu...Read more

CIBC to pay $125 mln in Spitzer, SEC fund probe
Jul 21/05
Canadian Imperial Bank of Commerce will pay $125 million to settle U.S. regulatory accusations that it financed hedge funds that engaged in improper mutual fund trading activities, the bank and regulators said on Wednesday. CIBC w...Read more

Arrow Hedge opens Arrow Distressed Securities Fund
Jul 20/05
TORONTO, July 20 /CNW/ - Jim McGovern, Managing Director and CEO of Arrow Hedge Partners Inc. of Toronto, Canada is pleased to announce the launch of the Arrow Distressed Securities Fund, which is now available for purchase. The F...Read more

Abria readies new products
Jul 20/05
July-20-2005 - Toronto-based Abria Alternative Investments will roll out two new funds of funds in the coming months - a levered version of its flagship diversified arbitrage product and a new energy fund of funds, according to Da...Read more

Risks of credit-oriented hedge funds remain unknown, report says
Jul 19/05
Impact of funds on credit markets is greater than their assets under management would indicate By James LangtonCredit-oriented hedge funds have recently emerged as important sources of capital to the credit markets, says Fitch Rat...Read more

Orchard Asset Management Selected as Investment Advisor to BluMont's Canadian Opportunities Fund
Jul 19/05
TORONTO, July 19 /CNW/ - Orchard Asset Management, a Canadian hedge fundcompany, today announced it has been selected as an investment advisor toBluMont Capital's Canadian Opportunities Fund. As a result of the deal,BluMont client...Read more

HF Risks Analogous to North American Equity Risks
Jul 18/05
VANCOUVER, British Columbia (HedgeWorld.com)—Hedge fund risks are usually misperceived as greater than they are, according to a paper by Peter Klein and Todd Brulhart, respectively a portfolio manager and an analyst for KCS Fund S...Read more

Norshield Receivership of RSM Richter Inc. Continued
Jul 14/05
Today, the Ontario Superior Court of Justice granted a motion brought by the Ontario Securities Commission for the continuation of the appointment of RSM Richter Inc. as receiver for Norshield Asset Management (Canada) Ltd. an...Read more

Pro-Hedge adds in-house portfolio manager
Jul 14/05
Grober named vp Thursday, July 14, 2005 By  IE StaffPro-Hedge Funds Inc. today announced the appointment of Les Grober as vice president, portfolio manager.Pro-Hedge says Grober will play an integral role in the construction and m...Read more

Dynamic offers currency-hedged growth fund
Jul 14/05
Dynamic Mutual Funds has announced the launch of the Dynamic Power American Currency Neutral Fund, which aims to eliminate currency risks for Canadians seeking exposure to the massive U.S. stock market."The US is home to many...Read more

Hedge fund code of conduct a distant reality
Jul 14/05
The Alternative Investment Management Association (AIMA) has set up its largest-ever working group to look into and formulate a response to the Financial Services Authority’s (FSA) consultation paper on regulating the hedge fund i...Read more

Arrow Hedge Partners Inc. Announces the Closing of Arrow Goodwood Fund
Jul 13/05
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...Read more

"Guru" opens personal investment model to sophisticated investors
Jul 13/05
"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 investo...Read more

Hedge Fund Investors Unworried About Returns
Jul 13/05
NEW YORK -(Dow Jones)- Hedge fund investors across the board are not concerned about the overall health of the asset class and plan to increase their allocations again this year.These are the findings released Wednesday by Deutsch...Read more

Hedge funds consider code of conduct
Jul 12/05
Move would alleviate concern over high risk and lack of transparency in the fast-growing business.July 12, 2005: 7:01 AM EDT LONDON (Reuters) - Hedge funds are to consider adopting a code of conduct to alleviate concern over high ...Read more

Investment Guru and Best-Selling Author John Mauldin Joins Pro-Hedge Funds
Jul 11/05
Callers dialled into Pro-Hedge Funds G.I.S. Series 3 National Conference Call were privy to a surprise announcement regarding the addition of New York Times Best-Selling Author, John Mauldin, to the Pro-Hedge team. Mauldin, a wide...Read more

Hedge fund performance anemic in first half of 2005
Jul 11/05
Hedge fund performance anemic in first half of 2005. S&P’s hedge fund index inches into positive territory Monday, July 11, 2005 By James LangtonHedge fund returns were essentially flat in the first half of 2005, according...Read more

Canada's Federal Police Begin Probe Into Defunct Portus Fund
Jul 11/05
July 11 (Bloomberg) -- Canada's federal police said they've begun a probe of Portus Alternative Asset Management to see whether criminal charges are warranted following the collapse of the hedge fund, with C$717 million ($592 mill...Read more

MDS board adds hedge fund manager
Jul 08/05
Hedge fund manager Jim MacDonald is ready to draw blood at Canada's largest listed health company.The chairman and managing partner of Enterprise Capital Management Inc. has joined the board of MDS Inc. with the support of some la...Read more

Hedge funds stock up on Amvescap, eye a play
Jul 08/05
By KEITH DAMSELLFriday, July 8, 2005 MUTUAL FUNDS REPORTERHedge funds have gobbled up a significant stake in Amvescap PLC and are intent on pressuring management to auction the British mutual fund company to the highest bidder. &q...Read more

OSC extends temporary orders against Norshield and Olympus
Jul 06/05
The Ontario Securities Commission today adjourned its hearing to consider whether the temporary order issued on May 20 suspending the registration of Norshield Asset Management (Canada) Ltd. should be extended, until October 6.The...Read more

Rapid hedge fund growth creates concern
Jul 06/05
The rapid growth of the hedge fund industry poses systemic risks, Standard & Poor's Ratings Services says in a report released Wednesday. But it believes that better risk management and due diligence practices should help less...Read more

Responsibilities of dealers engaging third party service providers clarified
Jul 06/05
The Mutual Fund Dealers Association of Canada clarified Wednesday the obligations of its members who enter into introducing/carrying arrangements or engage third party service providers. Under MFDA rules, dealers have an obligatio...Read more

Norshield Asset Management appears for OSC hearing on Friday
Jul 04/05
Friday July 8, 2005- Montreal-based hedge fund company Norshield Asset Management appears for an Ontario Securities Commission hearing into regulatory issues after the firm and its subsidiary, Olympus United Group, couldn't or w...Read more

UBS's Costas to Build Hedge Fund Unit, Leave Board
Jun 30/05
UBS AG, the world's biggest asset manager, named investment banking chief John Costas to run a new hedge fund unit, seeking to avoid defections to the loosely- regulated funds that are luring some of Wall Street's top traders. Cos...Read more

Norshield placed in receivership
Jun 30/05
An Ontario judge has put Norshield Asset Management into receivership, stalling a deal that would have seen the embattled hedge fund manager sold to a Calgary company today.The Ontario Securities Commission along with Quebec secur...Read more

Regulators seek Ontario hedge fund manager
Jun 30/05
By SHIRLEY WON AND ANDREW WILLIS Thursday, June 30, 2005 Page B1 Globe & MailWith files from Paul WaldieAn Oakville, Ont., man has been running a fake hedge fund, a U.S. regulator alleges, and stands accused of hiding $140-mil...Read more

Norshield money trail takes new twists
Jun 30/05
By PAUL WALDIE Thursday, June 30, 2005 Updated at 9:59 PM EDTGlobe and Mail UpdateRegulators probing hedge fund company Norshield Financial Group believe $130-million of client money was sent to an offshore business that cannot be...Read more

Portus dealers to pool fees
Jun 29/05
A group of investment dealers who referred clients to now-defunct Portus Alternative Asset Management Inc. have agreed to create pools of cash to offset potential losses resulting from investments in the once high-flying hedge fun...Read more

CFTC charges hedge fund with fraud, freezes assets
Jun 29/05
The U.S. Commodity Futures Trading Commission said on Wednesday it was charging a Philadelphia hedge fund and commodity pool with fraud and had obtained a federal court order to freeze the company's assets. In a press release, the...Read more

Canada Day Launch Set for New Hillsdale Fund
Jun 27/05
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 ...Read more

Veteran banking executive appointed OSC head, to increase hedge fund supervision
Jun 23/05
The Ontario government has reached outside the legal fraternity to name David Wilson, a wealthy investment banking executive at Bank of Nova Scotia, as the country's top securities gun.Mr. Wilson, who was appointed chairman of the...Read more

Portus co-founder's hand in ‘cookie jar
Jun 23/05
Boaz Manor, the embattled co-founder of Portus Alternative Asset Management Inc., tried to move $35-million (U.S.) of client money out of a bank account in the West Indies earlier this month, court documents show.The documents ind...Read more

A Cayman Islands success story. Why 80% of the world`s hedge funds are registered there
Jun 21/05
IntroductionThe Cayman Islands have become the leading offshore jurisdiction in the funds industry and are currently home to more than 6,000 registered open-ended funds and many unregulated closed-ended or exempted funds. The majo...Read more

Portus, Norshield shake investor trust, says CIFPs chairman
Jun 20/05
More than 400 advisors, delegates and sponsors gathered in Niagara Falls, Ont. this morning to kick-off the Canadian Institute of Financial Planners’ 3rd annual national conference, where chairman John Charrette outlined the ongoi...Read more

Arrow launches new fund of hedge funds
Jun 20/05
Arrow Hedge Partners Inc. today announced the launch of the Arrow Enhanced Income Fund, the newest addition to the fund of funds line up. The Arrow Enhanced Income Fund provides high net worth sophisticated investors and instituti...Read more

Portus Updates
Jun 20/05
From Theglobeandmail.com: Boaz Manor, the embattled co-founder of Portus Alternative Asset Management Ltd., has allegedly misappropriated $3.1-million (U.S.) worth of investments from the hedge fund and used a large chunk of this ...Read more

Celestar Capital Advisors Co-Hosts Alternative Investments and Structured Products Symposium
Jun 16/05
Celestar Capital Advisors will join IXIS Corporate & Investment Bank and Groupe Financier Strategis as co-host of an investment seminar entitled, "The Current Stakes for Alternative Investments" on June 22, 2005 begi...Read more

Sapphire to Seek Luster in G7 Plus Australia
Jun 16/05
Crystalline Management, Inc., a hedge fund manager founded in 1997, launched its second fund June 3. Martin Roberge and Carl Pelland manage the new fund, Sapphire Canada+ Fund. It will follow two strategies, global macro on the on...Read more

AIMA Canada announces research award winners
Jun 14/05
The Canadian Chapter of the Alternative Investment Management Association today announce the winners of the 2005 AIMA Canada Research Award. Todd Brulhart, Portfolio Manager, KCS Fund Strategies Inc. of Vancouver and Professor Pet...Read more

AIMA Canada introduces guide for alternative investments
Jun 14/05
The Canadian chapter of the Alternative Investment Management Association today released a new guide that sets out recommended practices for promotional, marketing and presentation materials for both retail and privately offered a...Read more

Canadian trading advisor offers macro fund
Jun 03/05
Toronto-based alternative money manager Salida Capital Corp plans to launch a new systematic global macro offshore trading fund on July 1. The BTR Global Macro Fund will be managed by Jason Russell of J Russell Capital Management ...Read more

Ontario Securities Commission may put hedge funds under increased regulation
Jun 02/05
The Ontario Securities Commission, the main securities regulator in Canada, is studying whether hedge funds should be subject to increased regulation, David Brown, the chairman of the commission, said. The Investment Dealers Assoc...Read more

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