Briefly:

BluMont Capital has announced that Sherpa Asset Management will be awarded the exclusive investment management duties for the BluMont Core Hedge Fund, effective July 1, 2010.

“Sherpa is an exciting new investment manager for the fund with a robust investment program that we believe will quickly add value for its unitholders,” said James Wanstall, CEO of BluMont Capital. “BluMont Capital welcomes David and the team at Sherpa and we look forward to them bringing this expertise to the Fund’s unitholders.”

Vancouver-based Sherpa will employ a market neutral strategy for the fund. The firm is headed by David Guarasci, a 17 year veteran and former global head of currency, spot and options trading at TD Securities’s proprietary desk.

When Sherpa takes over the fund, BluMont Capital will change the performance fee calculation from a unitholder-based to a fund-based fee structure to bring the fund in line with current industry standards. The net asset value per unit over which performance fees will be charged to the Fund will be set at 105% of the net asset value per unit as at June 30, 2010.

• • •

Sarona joins UN-PRI, GIIN Investors Council

Sarona Asset Management has announced it has signed on to the United Nations Principles for Responsible Investment (UN-PRI) and joined the Investors Council of the Global Impact Investment Network (GIIN).

Both the UN-PRI and the GIIN are industry-leading organizations working to bring social and environmental standards to the investment industry. The UN-PRI currently has over 750 signatories, each of which is committed to following ever more rigorous standards in caring for the environment, benefiting people, and governing their business with integrity and transparency.

Sarona’s specialty is investing in developing and emerging countries around the world through its Sarona and MicroVest groups of funds.

(06/01/10)

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.