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New Managers March 2013

Profiles - Canadian funds in Spartan's breeding ground perform within expectations in 2012


Gary K. Ostoich

Toronto, Canada-based alternative investment manager Spartan Fund Management Inc. reported that all of its six emerging manager hedge funds performed within expectations in 2012, based on their historical ranges, and despite encountering some challenges - as did most of the industry last year. Spartan was set up to help experienced emerging managers in Canada launch their strategy through a separate pooled fund.

Gary K. Ostoich, President of Spartan Fund Management told New Managers, "2012 proved to be another challenging year for many strategies in the hedge fund industry inside and outside Canada. At Spartan, our best performing strategies included our quant fund (Heaps), which was launched in March and finished the year over up 10%, and our short term momentum fund (ElevenFund), which in November completed its first year of operations up over 15% (a Top 20 performer in Canada). The strategy that struggled the most over the past year was our micro cap strategy (Teraz), which finished down over 9%, although outperforming the Canadian small cap venture index which was down over 17%. In all cases, our funds performed within the range of their historical correlation, performance, volatility and drawdown."

Canadian hedge funds suffered last year in general. The Globe and Mail reported that Canadian hedge funds had been the worst performers in 2012, with an average return of -5.2%. The Scotiabank Canadian Hedge Fund Index ended 2012......................

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This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
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