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Monday, May 20, 2024

General News

CIBC World Markets chief departs
Feb 05/04
The head of Canadian Imperial Bank of Commerce's investment banking arm abruptly stepped down and was replaced yesterday, just days after a former executive at the unit was charged with helping hedge funds make illegal mutual fund...Read more

CIBC director arrested
Feb 04/04
A former executive at Canadian Imperial Bank of Commerce was arrested yesterday and faces charges from both New York state and federal authorities for helping various hedge funds gain financing to make illegal mutual fund trades. ...Read more

Feb 03/04
MINNEAPOLIS – (February 3, 2004) – American Express Financial Corporation, a wholly owned subsidiary of American Express Company (NYSE: AXP), today announced the creation of a global fund of hedge funds platform through the integr...Read more

Univest Principal Protected Hedge Fund Linked Deposit Notes, Series 1
Jan 28/04
Royal Bank of Canada and Norshield Financial Group, one of Canada’s leading hedge fund managers, are proud to bring you the:Univest Principal Protected Hedge Fund Linked Deposit Notes, Series 1Key Features:■ The Notes are ma...Read more

Hedge funds behind push for trusts
Jan 28/04
An increasing number of companies are being nudged by large shareholders to convert into business income trusts. It has been happening at Stratos Global Corp. and Manitoba Telecom Services Inc. to name two examples, but it is like...Read more

CIBC could face suits from U.S. regulators
Jan 28/04
The Canadian Imperial Bank of Commerce faces regulatory action for providing more than $1 billion in financing to investors who made illegal mutual fund trades, the New York Times reported on Wednesday. Citing people briefed on th...Read more

Ontario Municipal to boost hedge fund investment
Jan 27/04
Ontario Municipal Employees Retirement System, Toronto, will increase its hedge fund investment by US$228 million by the end of June, bringing the US$26 billion plan’s total hedge fund investments to about 2% of total assets, said...Read more

Hedge fund assets up estimated $60 billion in 2003
Jan 27/04
Hedge funds gained record net assets of about $60 billion in 2003, helped by institutional investors cashing in some gains from rising markets and diversifying their portfolios, according to new research. The estimated $60 billion...Read more

Tremont launches open-ended fund for Canada's high net worth and institutional investor market
Jan 26/04
Tremont, today announced the launch of a new Tremont open-ended fund of hedge funds for the Canadian market. The Tremont Core Diversified Fund will be available to high net worth investors through investment advisors and will also...Read more

Canadian hedge funds say it`s hard to take recent RBC criticism at face value given the banks` parti
Jan 24/04
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

BPI Global Opportunities II Fund renews normal course issuer bid
Jan 23/04
TSX Symbol: BOI.UN TORONTO, Jan. 23 /CNW/ - BPI Global Opportunities II Fund (the "Fund") intends to purchase for cancellation up to 545,575 of its Units by way of a normal course issuer bid through the facilities of The...Read more

Canadian pension funds last year turned in their best return on investments since 1997, move into al
Jan 22/04
Canadian pension funds last year turned in their best return on investments since 1997, but falling interest rates and a soaring currency erased the bulk of those gains, an industry study says…To improve current returns, Mr. Laroc...Read more

Institutional investors up usage of alternative investments: Few gains to be had by dabbling says Gr
Jan 21/04
While institutional investors continue to move into alternative asset classes, funds that experiment with small allocations to private equity, hedge funds, and real estate might be taking on new cost and complexity with little cha...Read more

MSCI Index Returns 14.7% in 2003
Jan 16/04
NEW YORK (HedgeWorld.com) By Paul Barr, Senior Reporter:—Hedge funds returned 14.7% in 2003 following strong returns of 1.8% in December, according to preliminary results for the MSCI Hedge Fund Composite Index. Just about all MSC...Read more

AIMA Canada Appoints General Manager
Jan 15/04
Jim McGovern, Chairman of the Canadian chapter of the Alternative Investment Management Association (AIMA Canada), is pleased to announcethe appointment of Lynda Briant as General Manager of AIMA Canada, effective immediately. Mr....Read more

Nikko Asset Management Taps Tremont
Jan 14/04
TO ADVISE ON NEW HEDGE FUND INVESTMENT PROGRAM TARGETING JAPANESE INVESTORSRye, January 5, 2004 – Nikko Asset Management has tapped Tremont Capital Management, Inc. to help it design a new fund of hedge funds program that Nikko wi...Read more

Funds linked CSFB investable hedge fund index raises $500 million
Jan 14/04
Funds linked to CSFB Tremont's investable hedge fund index have raised more than $500 million in less than three months, demonstrating the appeal of diversified investing in the alternative asset class. The CSFB/Tremont Investable...Read more

Investigation: CIBC Too Close to Chronos?
Jan 14/04
Both New York State Attorney General Eliot Spitzer and the U.S. Securities and Exchange Commission are investigating Canadian Imperial Bank of Commerce, among other banks that may have lent money to hedge funds knowing those hedge...Read more

Dow Jones Hedge Fund Indexes Launched
Jan 14/04
Dow Jones Hedge Fund Indexes (DJHFI) today announced that its new hedge fund strategy benchmark series representing five hedge fund strategies is now being calculated, published and disseminated on a daily basis. The Dow Jones Hed...Read more

BluMont Strategic Partners Hedge Fund Conference Call to Address; Fund Performance and Additional In
Jan 12/04
BluMont Capital Corp, Manager of the BluMont Strategic Partners Hedge Fund ("the Fund") will conduct a conference call on Monday January 12, 2004 with the media and the investment community. Toreigh Stuart, President and...Read more

New Canadian Mutual Fund Rules Shy on Testosterone
Jan 09/04
According to a Globe and Mail article today, Securities regulators in Canada revealed suggested governance regulations for mutual funds that investor advocates say have been watered down to make them more industry friendly and do ...Read more

Leeward launches Leeward Offshore Bull & Bear Resource Fund
Jan 09/04
The three-year-old firm launched its fourth hedge fund this week called the Leeward Offshore Bull & Bear Resource Fund. The new fund was seeded with US$50-million from existing Leeward investors. Brendan Kyne, chairman and chi...Read more

Arrow Hedge Partners has launched Arrow Multi-Strategy Notes, Series 3
Jan 07/04
Arrow Hedge Partners has launched Arrow Multi-Strategy Notes, Series 3, which will be linked to Arrow Multi-Strategy Hedge Fund with BNP Paribas guaranteeing the principal. "Investors will have the assurance of guaranteed pri...Read more

Hedge funds growing fast: Canada's hedge fund industry is winning over mutual fund clients
Jan 07/04
By Keith Kalawsky: Financial Post- Frank Mersch tongue-lashing the mutual fund industry is like a former priest condemning the church or a retired U.S. general skewering the Bush administration on CNN for attacking Iraq. The mutua...Read more

Arrow Hedge Partners Inc. Announces Arrow Epic Capital Fund capital distribution to Unitholders
Jan 06/04
Jim McGovern, Managing Director and CEO of Arrow Hedge Partners Inc. of Toronto, Canada, today announced that the Unitholders of the Arrow Epic Capital Fund (the "Fund") would be receiving a distribution in the form of a...Read more

SEC acts against hedge-fund official
Dec 16/03
"Federal securities regulators for the first time have taken supervisory action against a hedge-fund executive, in a case involving an employee accused of defrauding investors," writes Deborah Solomon in today's Wall Str...Read more

Tremont's TASS ResearchTM Reports Hedge Funds See Second Consecutive Net Inflow Record
Dec 04/03
For the second consecutive quarter, investors allocated a record net inflow into hedge funds, according to research compiled by Tremont's hedge fund and research unit, TASS ResearchTM1. TASS's quarterly reporting analysis showed t...Read more

SEC leaders' cohesion shows signs of cracks
Dec 04/03
By Greg Farrell, USA TODAYAs if he didn't have enough problems cleaning up mutual funds and the New York Stock Exchange, Securities and Exchange Commission Chairman William Donaldson is about to face the biggest challenge of his n...Read more

Additional Redemption Option to be Made Available to Holders of BluMont Strategic Partners Hedge Fun
Nov 27/03
BluMont Capital Corporation, Manager of the BluMont Strategic Partners Hedge Fund (the "Fund"), announces today that holders of units of the Fund who elect to redeem their units at the Net Asset Value per unit determined...Read more

Scotia Capital Inc. selects Beauchamp Financial Technology for Prime Broker Systems Solution
Nov 20/03
Today, Beauchamp Financial Technology (BFT) announced that it had been selected by Scotia Capital, a subsidiary of a leading Canadian financial institution, Scotiabank, to provide a fully integrated trading and portfolio managemen...Read more

Norshield Enhances Corporate Governance Policy
Nov 20/03
Norshield Financial Group, a leader in the fund of hedge funds industry, today announced that it has enhanced and formalized its corporate governance policy. This policy is intended to fulfill the rigorous demands of both the curr...Read more

Fueled by broad performance rally Hedge Fund Industry assets again hit record in 3rd quarter 2003
Nov 19/03
Hedge Fund Research, Inc. (HFR), today released its Quarterly Industry Report for the third quarter of 2003. As detailed in the report, hedge fund industry assets under management again hit new highs, with strong investment perfor...Read more

Van Eck Robson Hard Assets Performance Trust files Final Prospectus
Nov 17/03
Robson Hard Assets Inc., the manager of Van Eck Robson Hard Assets Performance Trust, is pleased to announce that it has obtained a receipt for a final prospectus from the securities commissions of all Canadian provinces for an in...Read more

Products bring indexing to hedge funds for small investors
Nov 15/03
By Rob Carrick, Globe & Mail: Index investing and hedge funds have come together in some new products with special appeal to small investors. Whereas most index funds track a stock index, these new hedge products mirror the pe...Read more

Caisse de Dépôt et Placement Creates Absolute Return Group
Nov 07/03
By Paul Barr, Senior Reporter: Hedgeworld.com- MONTREAL- The large Canadian pension fund manager Caisse de Dépôt et Placement du Québec restructured its investment operation, devoting one of five new units solely to absolute retur...Read more

OSC to probe hedge funds trading
Nov 03/03
Theresa Tedesco, Chief Business Correspondent Financial Post: Canada's largest securities regulator is investigating potential illegal insider trading in hedge funds as part of a wider crackdown on financial market abuses, sources...Read more

One Financial launches index-based note
Nov 03/03
One Financial is introducing the Morgan Stanley Capital International (MSCI) hedge fund index to Canada in the form of a note. The MSCI Hedge Invest Index contains 74 hedge funds covering 11 strategies. The notes, which are on sal...Read more

Pro-Hedge Multi-Manager Elite Fund launched with all-star lineup of managers
Oct 31/03
Pro-Hedge Funds Inc. ices a team to include power play unit of O'Donnell, Mersch, Sprott, Vollendorf and Mansur Capital. Pro-Hedge Funds Inc. introduces the Pro-Hedge Multi Manager Elite Fund, a new investment product taking full ...Read more

Tremont Hedge Fund Index Linked Trust files Preliminary Prospectus
Oct 30/03
Tremont Capital Management, Corp., the manager of Tremont Hedge Fund Index Linked Trust (the "Trust"), is pleased to announce that it has filed a preliminary prospectus with the securities commissions of all Canadian pro...Read more

Prominent Shareholders Gain Additional Shares of Integrated Asset Management
Oct 30/03
Integrated Asset Management Corp. announced that Koloshuk Farrugia Corp., a company owned by the chairman and CEO and CFO of IAM, acquired 2% of its outstanding shares. Shareholders of Koloshuk Farrugia, Victor Koloshuk, chairman ...Read more

Mackenzie to merge Mackenzie Long / Short Equity Fund into Mackenzie Alternative Strategies Fund
Oct 28/03
Mackenzie Financial Corporation today announced its plan to merge its Mackenzie Long / Short Equity Fund into its more popular Mackenzie Alternative Strategies Fund, effective December 31, 2003. Both funds employ a multi-manager a...Read more

BluMont hedge fund appoints two new investment managers
Oct 22/03
BluMont Strategic Partners Hedge Fund has entered into investment management agreements with Frank Mersch of Front Street Investment Management Inc. and Veronika Hirsch of BluMont Capital Corp. The two managers will begin their ma...Read more

BluMont hedge fund appoints two new investment managers
Oct 21/03
BluMont Strategic Partners Hedge Fund has entered into investment management agreements with Frank Mersch of Front Street Investment Management Inc. and Veronika Hirsch of BluMont Capital Corp. The two managers will begin their ma...Read more

Nothing more than active investing? Blame the hedge funds.
Oct 21/03
Steve Maich: Financial Post- As regulators in the United States rip through the mutual fund industry for evidence of illegal trading, a familiar refrain is emitting from fund companies on both sides of the border: Blame the hedge ...Read more

BluMont Launches Multi-manager, Multi-Strategy Guaranteed Fund
Oct 06/03
BluMont Capital Corp. launched a multi-manager, multi-strategy principal guaranteed hedge fund, BluMont Man Multi-Strategy Notes. The notes are an extension of BluMont’s relationship with Man Investments,* London, which will manag...Read more

National Life, Norshield launch Global Trading Fund: Partnership continues to grow with latest hedge
Sep 29/03
National Life and hedge fund manager Norshield Financial Group are launching the National Life Global Trading Fund, a new segregated fund offered through National Life's Alternative Investment Strategies. The fund anticipates chan...Read more

SEC amends fund advertising rules: Proposes new rules for fund of funds investments
Sep 25/03
The Securities and Exchange Commission has unanimously approved amendments to mutual fund advertising rules, and new rules and amendments for fund of funds investments. The commission adopted rule amendments that are designed to e...Read more

Genesis Land Development sweetens takeover bid for Polar hedge fund
Sep 22/03
In July, Genesis said the acquisition opens the door for the company to possibly convert its operations into a real estate development income trust. Units in the Polar trust (TSX:PHT.UN) were unchanged at $7.95 Monday on the Toron...Read more

University writes off hedge fund investment- U of Montreal's $99.6M pension stake drops to $19M
Sep 11/03
Sean Silcoff -Financial Post-The University of Montreal's pension plan has written off most of its $100-million investment in a scandal-plagued hedge fund accused of fraud by the U.S. Securities and Exchange Commission. The plan's...Read more

Spitzer's Fund Probe May Sting Samaritan Hedge Fund
Sep 09/03
Sept. 9 (Bloomberg) -- Samaritan Asset Management, a $200 million hedge fund, may have engaged in the same sort of trading that led Canary Capital Partners LLC to pay a $40 million settlement, according to New York State Attorney ...Read more

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