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(June 13, 2006) In an effort to demystify the hedge fund industry the Canadian chapter of the Alternative Investment Management Association (AIMA Canada) has launched a series of Hedge Fund Strategy Papers.

“The Strategy Paper Series is intended as a user-friendly information source to promote investor understanding of the rapidly growing Canadian hedge fund industry which now accounts for more than $35 billion in assets under management,” said AIMA Canada founding chairman Jim McGovern.

The first in the series, released today, focuses on the equity market-neutral strategy. A paper on long/short equity strategy expected to be released by the end of June. The research papers were developed by AIMA Canada’s Education & Research Committee.

Other Hedge Fund Strategy Papers scheduled for release in 2006/2007 include: The Role of a Prime Broker; An Overview of Leverage; An Overview of Short Selling; Convertible Arbitrage Strategy; Mortgage-backed Securities (MBS) Arbitrage; Merger Arbitrage Strategy; and Managed Futures Strategy.

The AIMA Canada Hedge Fund Strategy Papers will be made available as a free download from www.aima-canada.org as they are completed in 2006.

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TSX Group calls for free trade in securities

(June 13, 2006) The CEO of the TSX Group, Richard Nesbitt, is calling on the federal government to push its NAFTA partners toward including securities trading in the free trade deal.

“It would help immensely to kick-start the process were they to include in their joint communiqué a recommendation to the appropriate authorities on both sides of the border to explore the idea,” says Nesbitt. “My view is that establishing a Canada-U.S. free trade area for securities based on mutual recognition is something best done by those who must make it work. That is, instead of a treaty our two countries should put this task to U.S. federal and Canadian provincial regulators, to self-regulatory organizations on both sides of the border and to exchanges.”

There are currently some 200 Canadian issuers inter-listed on U.S. exchanges as well as on Toronto Stock Exchange, and 100 U.S. companies are listed on the TSX and the TSX Venture Exchange.

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Leon Frazer gets new CEO

(June 13, 2006) Jovian Capital has announced the appointment of Douglas Kee as chief executive officer of its subsidiary, Leon Frazer & Associates Inc., effective June 12, 2006.

Kee replaces Russell Lindsay who was recently named chief operating officer of Jovian.

“We are very pleased to welcome Doug to the Jovian family,” said Philip Armstrong, Jovian president and CEO. “We believe that his many years of experience in the investment management and asset management fields will be a good fit for Leon Frazer. In addition, this will now allow Russ Lindsay to focus his full attention on helping Jovian to achieve its operational and financial goals.”

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FPSC names interim leader

(June 13, 2006) The chief executive of the Financial Planners Standards Council (FPSC) has announced his retirement will be effective July 1, 2006. Donald Johnson had announced his intention to retire in May 2005, but had not given a date.

The FPSC has yet to name a successor, but in the interim Cary List, the current COO and executive vice president of standards will assume the role of acting president and CEO.

Johnson has been the head of the FPSC since its creation in 1995 and is responsible for bringing the CFP designation to Canada.

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Investors Group offers broad China mandate

(June 13, 2006) Investors Group has announced the impending launch of the Greater China Fund, which will invest in listed companies trading on Hong Kong, Taiwan, Singapore and Chinese stock exchanges and derive a significant portion of their revenues from growth in the Chinese economy.

“The Fund intends to invest in those companies benefiting from the strong growth of the region using a ‘growth at a reasonable price’ philosophy,” says Tim Leung, a member of the I.G. Investment Management (Hong Kong) Limited portfolio management team. “We will be looking for well-managed companies with good growth prospects and reasonable valuations. The investment process will include valuation and earnings growth screening, comprehensive company research, and both industry and sector risk control measures.”

The fund will also be available in a corporate class structure, to be named the Investors Greater China Class. The funds are expected to be available by mid-summer.

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(06/13/06)