Just like the New York Yankees' Andy Pettitte, retirement held little interest for former Sprott Asset Management portfolio manager Jean-François Tardif.
And like Pettitte, who rejoined the Yankees this year after a year on the shelf, Tardif expects to be back in form by May, when his new closed-end hedge fund will launch.
Tardif has already set up Timelo Investment Management outside Toronto. The new firm will run the JFT Strategies Fund, a long/short vehicle expected to look an awful lot like the Sprott Opportunities Hedge Fund he ran until he retired from Sprott in 2009.
JFT, in turn, will be offered by First Asset Investment Management, which has hired Tardif to run the strategy. First Asset will offer the fund on the Toronto Stock Exchange in May for C$10 per share.
JFT will come in two share classes, with only Class A shares listed on the TSE. JFT's Class B shares will be for fee-based and institutional accounts, convertible to Class A shares.