Tuesday, 21 October 2014
Last updated 1 hour ago
Apr 26 2012 | 2:31am ET
Toronto-based Lawrence Park Capital Partners hopes to grow quickly following a key seeding agreement.
The fixed-income specialist in February won the backing of CI Financial Corp., which took a minority stake in the firm and provided seed capital for its flagship Credit Strategies Fund, which debuted last month. But Lawrence Park co-founder David Fry is thinking much bigger.
Credit Strategies, which returned 0.53% in its first month, currently managed C$36 million. But Fry wants to almost triple that this year and increase it by a factor of almost six by the end of next year.
"We’d like to be a C$100 million by year-end," he told Reuters. "I'm reasonably confident that we'll get there, probably double that for the end of 2013."
Fry and co-founder Andrew Torres say Lawrence Park is offering a strategy that is all too rare in Canada, at a time when opportunities are ripe.
"Those types of activities at most global banks are going the way of the dodo essentially," Fry said. "Our thought really is that we can take that strategy… and put that in a product that we can deliver to Canadian investors who are, from what we can tell, generally starved of alternative fixed-income products."
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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...