New Managers July 2012

Profiles: Three Emerging hedge fund managers speak to New Managers about their funds: Pace Goldman of Silvercove, Robert Robins of EverTrend Global and K.D. Angle of Angle Capital

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Silvercove Hard Asset gains +17.24% since Oct-09 inception by protecting capital and lowering volatility

Pace Goldman

Silvercove Hard Asset Fund is an onshore Canadian LP with $21m of AuM, managed by Silvercove Fund Management. The multi-strategy fund was launched in October 2009.

In an interview with Opalesque, Pace Goldman, Business Development Officer at Silvercove, said the fund generated +17.24% gains net of fees since inception in October 2009 (+2.07% in June) because of the managers' "sharpened focus on protecting capital and lowering volatility". Silvercove achieved double-digit returns compared to its benchmark, the S&P/TSX Composite ("S&P/TSX") which gained +3.10% over the same period but with a standard deviation 64% higher at 12.5%.

The Silvercove Hard Asset Fund is currently featured in Opalesque Solutions' Emerging Managers Database.

Goldman added, "Our strategy is performing as expected during the current period and we are up +0.56% year-to-date through the end of June in 2012, while the S&P/TSX Composite is down -3.00% YTD. We remain quite cautious and have been managing the book between 10-35% net long and with a healthy amount of cash to deploy into mispriced opportunities."

More importantly, Silvercove's investors earned +2.07% in June versus the S&P/TSX at +0.72%. The fund outperformed in six of the nine sectors that it inves......................

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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.