Roundtable Launches Offshore Hedge Fund

Jul 31 2007 | 10:30am ET

Toronto-based Roundtable Capital Partners is launching an offshore version of its one-year-old Roundtable Opportunities Fund, a Canadian equities long/short fund.

The new Bahamas-based offering, Roundtable Canadian Offshore Hedge Fund, is debuting this week with between US$17.5 million and $20 million.

Geoff Spidle, Roundtable’s president, described the firm’s onshore fund as a 150/50 strategy. It was ranked number one in Canada (out of 584 funds) for year-over-year returns as reported by mutual fund rating service Globefund.

The existing fund returned 65.1% through the end of May and is currently managing some CAD$95 million.

“We have a strong exposure to resources in terms of energies and metals but we definitely look at all sectors and have a lot of small and mid-cap exposure,” said Spidle. “The past week’s drawdown in Canadian equities can be compared to 9/11, but we definitely believe in a larger super-cycle for commodities and energy. That doesn’t mean there’s not going to be shorter-term volatility within that, but we think with a longer outlook we see continued demand for commodities and energy.”

The firm is also keeping an eye on the agriculture and infrastructure sectors, added Spidle.

The new offshore fund charges fees of 1.75% for management and 20% for performance, with a US$500,000 minimum investment requirement. It sports a six-month soft lockup and monthly liquidity with 30-days notice.

Jim Allan, former vice president of portfolio management at Toronto-based long-only shop Thornmark Asset Management, founded the firm last year.

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