Saturday, 28 March 2015
Last updated 1 day ago
Nov 10 2006 | 1:34pm ET
Canada’s Sextant Capital Management this week launched a pair of offshore hedge funds aimed at U.S. and European investors.
The new Sextant Hybrid²Hedge Resource Fund Offshore, according to Sextant CEO Otto Spork, will follow the same strategy as its flagship Canadian onshore fund, Sextant Strategic Opportunities Hedge Fund. That fund, which has returned more than 92% year-to-date as of the end of October, invests primarily in “off-the-radar-screen” exotic and industrial metals.
“For the offshore fund,” Spork said, “we’re using those metals as well as the energy complex, natural gas, coal, that kind of thing.” The fund will hedge its long commodity exposure—acquired primarily through private placements—using exchange-traded funds, options and futures.
“We just feel that equity is really, as a short proxy, very ineffective and very inefficient,” he said.
The Hybrid²Hedge fund and Sextant Strategic Global Water Fund Offshore will remain open for a month or two, “depending on the interest.” After the initial subscription period, the funds will close and the firm will begin investing the capital. Earlier this week before the official fund launch, Spork said he expected to start the new fund with between $20 million and $50 million.
“We’ve had a fair amount of interest,” he said. “Our strategy can handle quite a lot of money.”
Separately, Sextant has brought on the scion of a prominent family in the Canadian securities industry, Peter Deacon, as vice president of business development. Deacon has worked both in Canada and Europe for firms such as Dundee Securities and RBC Dominion Securities. In his new role, he will focus on building relationships with clients old and new.
“We’re expanding the firm’s capabilities, and he was an interesting find, so to speak,” Spork said of his new v.p. “We’re really looking to ramp up the assets in all the funds.”
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…