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Alternative Market Briefing

Institutional Canadian fund manager Aurion dip its toes in alternative waters

Wednesday, June 13, 2012

amb
David Doritty
by Beverly Chandler, Opalesque London:

Founded in 1996, Toronto based Aurion Capital Management Inc is principally known for its activities as a pension fund manager, activities that started at its launch as a spin out from Shell Canada Pension Fund. However, recent years have seen it dipping its toe in hedge fund waters with the launch of two alternative funds.

In addition to managing total firm-wide assets under management of C$6bn ($5.84bn), Aurion also oversees C$3.6bn ($3.49bn) of third-party managed assets under administration totalling C$9.6bn ($9.bn) in overall assets. Since 2011 it has been 60% owned by Scotia Bank.

Vice President of business development for Aurion, David Doritty, explains that the firm has effectively three legs of a stool in its asset management business with about C$3bn ($2.92bn) in equity, C$1.6bn ($1.56bn) in fixed income and C$1.4bn ($1.36bn) in real estate.

The division between institutional/ pension assets and high net worth/retail assets is roughly 90% to 10% . Part of Aurion�s offering includes an enhanced equity product, Aurion II Equity Fund, founded in 2006 with C$65m ($63.3m) under management and the actively managed Aurion Income Opportunities Fund, founded in 2009 with C$40m ($38.9m).

Doritty explains: "It�s relatively small because in house we started a hedge product six years ago but wanted to have a longer term track record before they started to market it."

The motivation behind developing these p......................

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