Friday, 31 October 2014
Last updated 19 sec ago
Apr 6 2011 | 3:44am ET
Hedge fund Palos Management is bowing to market pressure by setting up a mutual fund.
The Montréal-based firm’s Equity Income Fund invests primarily in Canadian income-paying securities. But Palos is a hedge fund, after all, so the new fund will have some freedom to short securities or engage in merger arbitrage and pairs trading strategies.
“We were being asked by investment advisers to create a mutual fund for retail investors that pays out quarterly distributions and is RRSP eligible, so that their clients could have access to our unique strategies,” Charles Marleau, president of Palos, said.
The “new” fund isn’t actually all that new: It’s been around as a private mutual fund for more than three years. It launched as a public mutual fund in February and boasts some C$11.5 million in assets.
And while Marleau will have some freedom to use hedge-like strategies, the fund can invest no more than 20% of its assets in short positions and cannot invest outside of North America.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.