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James L McGovern By Beverly Chandler, Opalesque London:

Speaking at a reception held at the official residence of the Canadian High Commissioner in London this week, James L McGovern, managing director of Arrow Capital Management Inc, outlined the growth of the Canadian hedge fund industry in the last 10 years.

The occasion marked a celebration of a decade of 'stellar growth which has seen Canadas hedge fund numbers as measured by members of the Canadian AIMA chapter - rise to some 125 institutions, while funds under management in the sector have risen from $12 billion five years ago to over $30 billion in 2012.

McGovern reported that they are hard at work with policy makers and regulators in the country (something he described, ironically, as 'an absolute joy) putting in a lot of work to create a workable environment, based on sound practices for Canadian hedge funds.

He also said that AIMA Canada was working with the media and developing education material to get better coverage of hedge funds in the country. "Post 2008, Canada passed the stress test both structurally and in terms of governance" McGovern said. The virtuous cycle of people leaving bank proprietary trading desks to set up on their own but bringing their institutional culture with them has helped the Canadian hedge fund industry, he said. "We have an abundance of high quality talent with institutional support."

Earlier in the month, Opalesque ......................

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