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General News

Manulife offers clients options for Portus refund
Mar 31/05
TORONTO, March 31 (Reuters) - Manulife Financial Corp. (MFC.TO: Quote, Profile, Research) said on Thursday it will offer its clients three options for the return of 100 percent of their principal invested in Portus Alternative A...Read more

High-profile Canadian portfolio manager leaves mutual funds to set up Toronto office for US hedge fu
Mar 28/05
CI Mutual Funds Inc. lost Ben Cheng to Fortress Investment Group, a New York-based hedge fund manager that recently opened a Toronto office. At his former employer, Mr. Cheng was one of several portfolio managers who oversaw the...Read more

Negative publicity for the Canadian hedge fund industry failed to dampen investor enthusiasm and dem
Mar 24/05
Negative publicity for the Canadian hedge fund industry failed to dampen investor enthusiasm and demand for hedge fund vehicles. The bad publicity resulted from the troubles of Portus Alternative Asset Management Inc. Last month...Read more

Ontario Teachers' Posts 15% Return
Mar 15/05
Ontario Teachers' Pension Plan, Canada's second-biggest pension-fund manager, returned 15 percent last year as it benefited from gains in real estate, hedge funds and stocks such as Fording Canadian Coal Trust. Income from i...Read more

Portus staffers in dark - Receiver's finding: KPMG unable to interview hedge fund leaders
Mar 14/05
Most former employees of Portus Alternative Asset Management Inc. appear to have had only "limited or restricted knowledge" of its business structure, says a report by the hedge fund firm's court-appointed receiver. ...Read more

Hedge fund index posts modest gains
Mar 10/05
Hedge funds gained nearly 2% in February, according to The Barclay Group, thanks to a jump in emerging markets products. The Barclays/GHS Hedge Fund Index was up 1.98% last month (with nearly 1,000 hedge funds around the wor...Read more

Hedge funds recover from slow start to 2005, says S&P
Mar 09/05
Hedge fund performance bounced back in February.after getting off to a slow start in 2005, says Standard & Poor’s. Hedge fund, as measured by the S&P Hedge Fund Index, finished the month of February up 0.83% to produc...Read more

CSFB-linked hedge fund products have assets of US$3 billion
Mar 08/05
Credit Suisse First Boston reported that hedge fund products linked to the CSFB/Tremont Investable Hedge Fund Index exceeded US$3 billion in assets under management, as of March 1. CSFB/Tremont introduced its investment prog...Read more

Abria Trust reports five years of positive returns
Mar 08/05
Alternative Investments Inc., whose flagship fund the Abria Diversified Arbitrage Trust is the recent winner of the first ever Canadian Investment Award for Best Fund of Hedge Funds, has passed another milestone in completing it...Read more

Reuters ramps up hedge-fund research
Mar 08/05
Business news and information provider Reuters says its Lipper research arm is buying TASS Research and HedgeWorld to strengthen its hedge-fund research and data business. Terms of the deal, which is expected to close March 9...Read more

OCS places Portus in receivership- Order names KPMG as receiver of hedge fund
Mar 07/05
Hedge-fund operator Portus Alternative Asset Management Inc. was placed in receivership Friday under a court order naming KPMG Inc. as the receiver, the Ontario Securities Commission announced Friday.The order obtained by the co...Read more

Bank of Montreal Stopped Portus Sales in September
Mar 03/05
Bank of Montreal, Canada's fourth- largest bank, stopped selling products from Portus Alternative Asset Management Inc. in September, five months before regulators blocked the hedge fund from trading securities or paying clients...Read more

Investors in Portus hedge fund launch class action against Manulife Securities
Mar 02/05
From Canada.com: Investors who bought hedge funds from troubled Portus Alternative Asset Management Inc. launched a $240-million class-action lawsuit Tuesday against Manulife Securities International, the dealer that recommended...Read more

Manulife Financial says was misled by Portus Alternative
Mar 01/05
Manulife Financial Corp. said yesterday it was misled by Portus Alternative Asset Management Inc. about the nature of the investments the hedge-fund firm was selling to Manulife's clients. "The Portus structure and products...Read more

Three Canadian provinces ban investors from opening new accounts with hedge fund
Feb 03/05
The Ontario Securities Commission today issued a temporary order today precluding Portus Alternative Asset Management Inc. from opening new client accounts and accepting new funds for investment in existing accounts. Securities ...Read more

Canadian firms announce launch of merchant bank to invest and take stakes in CTAs
Feb 03/05
Integrated Asset Management Corp., Integrated Partners, its private equity unit and Integrated Managed Futures Corp., its CTA (Commodity Trading Advisor) announced today that capital raising has begun for the Integrated CTA Merc...Read more

Recovery Partners Names Administrative Director
Jan 31/05
Recovery Partners Investments Ltd. appointed John Wilson as managing director for finance and administration. He previously was chief financial officer at YMG Capital Management Inc., Toronto, for which he oversaw a public offer...Read more

Donaldson Says Hedge Funds May Be `Accident Waiting to Happen'
Jan 28/05
(Bloomberg) -- Hedge funds, with their newfound popularity and high fees, may be ``an accident waiting to happen,'' U.S. Securities and Exchange Commission Chairman William Donaldson said. The SEC, which voted last year to exten...Read more

Fitch Group Completes Algorithmics Acquisition
Jan 27/05
By Terry Stanton, Managing Editor-NEW YORK (HedgeWorld.com)—Fitch Group has closed on its purchase of Algorithmics, a Toronto-based risk management firm. The terms of the transaction, with an acquisition price of US$175 million,...Read more

Montreal Hedge-Fund Manager Crystalline launches Offshore version of Amethyst Arbitrage Fund
Jan 25/05
Montreal-based hedge fund manager Crystalline Management Inc., assisted by Aramis Capital SA, a European marketing agent from Neuchâtel, Switzerland, launched the offshore version of its flagship fund, the Amethyst Arbitrage Fun...Read more

CI Fund Management changes portfolio management of mutual and hedge funds
Jan 24/05
CI Fund Management Inc. is changing the portfolio management of a number of other mutual and hedge funds. The firm says these changes reflect a decision by Nandu Narayanan, Chief Investment Officer of Trident Investment Management...Read more

Canadian hedge funds say it`s hard to take recent RBC criticism at face value given the banks` parti
Jan 24/05
From Canada.com: Hedge funds might be big and scary to Gordon Nixon, chief executive of Royal Bank of Canada, but it's hard to take his comments at face value given the banks' participation in this blossoming industry: "You d...Read more

Bankers flag hedge funds: Sinclair Stewart, Globe and Mail
Jan 20/05
Click here to read the article. ...Read more

Who Pays for Harvard Alumni's Moral Outrage?: Michael Lewis
Jan 19/05
(Bloomberg) -- The men who manage Harvard University's $23 billion portfolio are leaving to start their own investment fund. The university will ultimately pay for indulging the moral outrage that drove them away. For almost 15 ye...Read more

For Hedge Funds Investors, Silence Is Golden: Caroline Baum
Jan 18/05
http://www.bloomberg.com/apps/news?pid=email_us&refer=columnist_baum&sid=a_tzupZUvRUw...Read more

U.S. hedge funds pull in $73.6 billion in '04
Jan 17/05
The hugely popular U.S. hedge fund industry grew by 19 percent last year when the loosely regulated investment pools pulled in $73.6 billion in new assets, according to data released on Thursday. Hedge funds now manage roughly $...Read more

Hedge funds eyeing uranium market
Jan 12/05
From The GlobeandMail.com: For the first time analysts and brokers can recall, hedge fund managers are dipping a toe in the uranium market, buying the nuclear fuel in the same way they would purchase other commodities such as copp...Read more

Jovian launches Taliesin multi-strategy hedge fund
Jan 11/05
Jovian Capital Corporation has launched the Taliesin Multi-Strategy Fund, a strategic partnership between Eden Rahim's Taliesin Capital, a wholly-owned subsidiary of Jovian. "We believe that the unique structure and approach ...Read more

Arrow launches two new notes
Jan 11/05
Arrow Hedge Partners has launched two principal-protected notes linked to the Arrow Multi-Strategy Hedge Fund and the Arrow Global Long/Short Hedge Fund. Both offerings will be available for purchase up to March 24, 2005. The Arro...Read more

Divided SEC Votes to Subject Hedge Funds to Oversight
Jan 08/05
U.S. Securities and Exchange Commission Chairman William Donaldson won his fight to extend SEC oversight to hedge funds, passing regulations opposed by the $866 billion industry and his two fellow Republican commissioners. The rul...Read more

SciVest launches global fund of hedge funds: CC&L’s Jang to manage new fund
Jan 06/05
By IE Staff- SciVest Alternative Strategies Inc. today announced the launch of the SciVest Global Multi-Strategy Fund, a global fund of hedge funds. The new fund will be managed by Colin Jang, who is responsible for the strategy a...Read more

Canadian financial firms step up tsunami relief donations
Jan 04/05
The Canadian financial services industry has joined the worldwide tsunami relief effort. Canada's big banks, in addition to donating a total of $790,000 themselves, are also accepting Red Cross donations at any of their branches....Read more

Russell implements new distribution model in Canada driven by demand for mutual fund alternatives
Dec 22/04
In response to demand from advisors and individual investors, Russell Investment Group will expand its distribution strategy for LifePoints(R) Portfolios, a multi-manager, fund-of-funds investment offering. Starting January 1, 200...Read more

BluMont Hirsch Performance Fund To Close at $150 million
Dec 17/04
BluMont Capital Inc. (TSXV: BCC) has announced that its wholly-owned subsidiary, BluMont Capital Corporation (“BluMont” or the “Manager”), will be closing the BluMont Hirsch Performance Fund (the “Fund”) to new investors the soone...Read more

Hedge Funds Make Robust Rally in 2004
Dec 16/04
The hedge fund industry has experienced exponential growth this year attracting in excess of $100 billion in net assets, according to Tremont Capital Management's TASS Research. According to research findings, during the first, se...Read more

Selective Long/Short Funds Launch in Canada
Dec 13/04
"Selective" fundamental stock picking and measured allocations of long and short positions are the features of three new funds offered by a new Canadian hedge fund manager. The funds offered by Selective Asset Management...Read more

Abria wins Canada’s best Fund of Hedge Fund Award
Dec 09/04
The Abria Diversified Arbitrage Trust was honored in the Canadian first ever investment award at a gala in Toronto. The fund is managed by Abria Financial Group. The Abria fund is ranked the best Risk-adjusted Alternative Strategy...Read more

Top-Ranked Fund Manager Robert McWhirter Launches Three Hedge Funds
Dec 03/04
Robert J. McWhirter, F.C.S.I., CFA, President and Portfolio Manager of Selective Asset Management Inc. ("SAMI"), today announced the launch of three hedge funds he and his team will manage: - Selective Asset Long Biased ...Read more

Jim Rogers Says Hedge Fund Industry Has Peaked
Dec 02/04
Hedge fund celebrity Jim Rogers, who co-founded the Quantum hedge fund with financier George Soros, said the industry has peaked because of deteriorating stock and bond returns coupled with an industry-wide lack of good money mana...Read more

Hedge Funds Might Worry Where the Volatility Went: Chet Currier
Nov 30/04
Nov. 30 (Bloomberg) -- In this strange year of 2004, many of the big news stories have been about what didn't happen. Contrary to widespread concerns, terrorists didn't strike before Nov. 2 to disrupt the U.S. elections. Neither d...Read more

Nov 26/04
Montreal, November 26, 2004 - Norshield Financial Group ("Norshield") is pleased to announce the overwhelming success of the inaugural Canadian Hedge Funds Care "Open Your Heart to the Children Benefit" held re...Read more

Nov 15/04
Multi-year Analysis Points to Growth of Fund of Funds; Greater Diversification; Fee StabilityCHICAGO— November 15, 2004— Hedge Fund Research, Inc. (HFR) the leading source of hedge fund information and performance data, today anno...Read more

Hermes Selects RBC for Custody and Fund Administration
Nov 11/04
Royal Bank of Canada (RBC) subsidiaries in Guernsey, Channel Islands have been selected to provide custody and fund administration services for Hermes Pensions Management Limited's new offshore fund of hedge funds. This agreement ...Read more

Nov 08/04
(HALIFAX – November 8, 2004) One of the country’s leading universities has teamed up with Canada’s leading financial services educator to offer a unique MBA program. Students of Dalhousie’s MBA (Financial Services) Program will gr...Read more

Malkiel Says Hedge Fund Index Returns Are Inflated: John Wasik
Nov 08/04
http://www.bloomberg.com/apps/news?pid=email_us&refer=columnist_wasik&sid=aj2goE2XBqrU...Read more

BMO becomes first Canadian bank to be granted derivatives licence in China
Nov 08/04
BMO Financial Group announced today it has become the first Canadian bank to be granted a licence to sell derivatives instruments in China. The licence, issued by the China Banking Regulatory Commission (CBRC), will enable BMO to ...Read more

More Firms Expected to Add Hedge Funds to Separately Managed Accounts
Nov 07/04
NEW YORK (AP) - Hedge funds may be coming to a managed-account program near you. Separately managed accounts, or SMAs, are individual accounts that allow affluent investors to own stocks and bonds hand-picked by a money-manager. H...Read more

Scotia Capital Hires Equity Finance Marketer
Nov 05/04
As its hedge fund prime brokerage business grows, Scotia Capital intends to add more funds to its client list. To make the job easier, the firm has and hired a marketer and two additional client service staffers. ...Read more

BluMont Capital and Man Investments Extend Strategic Alliance
Nov 04/04
BluMont Capital Inc. ("BluMont") (TSXV: BCC) is pleased to announce that its wholly-owned subsidiary, BluMont Capital Corporation and Man Investments Inc. ("Man"), the US member of the asset management division...Read more

ASC issues warning on accredited investor exemption
Nov 04/04
Oxford Investments slapped with cease trade order for alleged misuse of exemption-By James Langton: IE- The Alberta Securities Commission is warning investors about the proper use of the accredited investor exemption and unsolicit...Read more

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