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Hedge fund strategies: Making sense of it all

(July 2007) The hedge fund world is a universe in itself. There are many different strategies, with different objectives, but too often they are lumped together under the overarching “hedge funds” heading. Let’s make some sense of hedge fund strategies. First things first — there are three basic hedge fund strategies: a) Relative value strategies: […]

By Pierre Saint-Laurent |July 9, 2007

2 min read

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Since You Asked: Defining alternatives

(June 2007) Advisor.ca is pleased to introduce a new monthly investment column by Pierre Saint-Laurent. “Since You Asked” will answer advisor frequently-asked questions concerning investments. Many advisors get confused by what alternative investments entail. Typically, one associates alternative investments, or alts for short, with hedge funds. However, there is much more to alts than just […]

By Pierre Saint-Laurent |June 18, 2007

4 min read

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Manor says Portus money

(May 2007) Boaz Manor denied he was the owner of Portus Alternative Asset Management, despite sworn documents filed with the Ontario Securities Commission Management, says a special report filed by receiver KPMG. However, KPMG does not believe Manor is credible. “Now I know that a lot of things that I’m saying are fantastic in nature. […]

By Scot Blythe |May 18, 2007

4 min read

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Risk is not a number

(May 2007) Although using models of expected returns to guide portfolio construction is the starting point for any investor forgoing the certainty of a T-bill return, “the equations cannot always describe the true nature of competition and combat” in the securities marketplace, warns doyen of investment management studies Peter Bernstein. Nevertheless, “theory matters even though […]

By Scot Blythe |May 4, 2007

5 min read

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New trends in hedge funds

(April 2007) Alternative investments signify a fast-moving, opportunity-driven world. Now there’s alternative beta. Yes, alternative beta, as in the Capital Asset Pricing Model alpha and beta. You may remember the concepts of alpha and beta from studying CAPM in school. That’s when you were told that returns come from two sources (roughly speaking): Beta, or […]

By Pierre Saint-Laurent |April 4, 2007

4 min read

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Hedge funds revise valuation policies

(April 2007) New mutual fund registration procedures will have an impact on hedge funds in Canada, says one expert. At the same time, an international industry body is promoting new valuation rules to deal with a rising phenomenon: illiquid investments. The Canadian chapter of the Alternative Investment Management Association organized a workshop this week for […]

By Scot Blythe |March 30, 2007

2 min read

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Norshield dubbed potential

Questionable payments, overstated assets and faulty price calculations mean that investors in the Olympus United hedge fund of funds will likely see between 6 cents and 9 cents on the dollar for their $144 million investment. And the Olympus fund’s manager, Norshield Asset Management, will likely be the subject of a police investigation, based on […]

By Scot Blythe |March 26, 2007

7 min read

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Demand-driven structured products attract regulators

Structured products may well be the new mutual funds. But financial innovation inevitably attracts regulatory scrutiny, suggests McCarthy Tétrault securities lawyer Ronald Schwass, especially when it comes to features and techniques that are not typically permitted in a mutual fund structure. Hence, it’s incumbent on advisors to attend to the details in new structured products. […]

By Scot Blythe |February 5, 2007

6 min read

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CSA seeks hedge fund transparency

(January 2007) As the Canadian hedge fund industry continues to grow, regulation is on a lot of people’s minds. The Canadian Securities Administrators has addressed investor concerns with the release of a six-page report that says the securities framework that’s in place for hedge funds is “appropriate.” However, a few issues related to fees, marketing […]

By Bryan Borzykowski |January 17, 2007

3 min read

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Hedge convergence

(January 2007) There is convergence between traditional and hedge investing, folks. Says who? Blake Grossman. Blake who? Grossman, chief executive of Barclays Global Investors, the world’s biggest money manager, that’s who. Says he in a recent Financial Times interview: “The notion that there is a traditional way of investing that is long only, and then […]

By Pierre Saint-Laurent |January 3, 2007

4 min read

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