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Opalesque Exclusive: Sherpa Asset readies to launch equities fund on June 1 Kirsten Bischoff, Opalesque New York: Vancouver-based Sherpa Asset Management will be launching the Sherpa Diversified Returns Fund on June 1st with assets of between $10m - $30m. Portfolio Manager David Guarasci, will be running a strategy combining investments in North American mid-to large-cap equities with a proprietary options-trading strategy which Guarasci has developed utilizing his decade long experience at TD Securities where he was Global Head of Currency Spot and Options Trading.

Guarasci explained a bit of the trade strategy to Opalesque. In addition to the investments in mid- to large-cap North American Equities, the fund will then overlay each holding with an options trading strategy. The fund will also utilize selective and opportunistic shorts as well as long opportunistic gamma/options plays. Finally, they will look to add value through trading the US/Canada Exchange against the equity holdings.

The core portfolio will combine growth and value stocks (Low P/E, high dividend yielding value stocks will make up 40-60% of the portfolio and stocks with high growth potential will make up 20-40%), and the options overlay and selective shorts will position the fund more neutrally in regards to equity investments than other equity funds as the team looks to deliver absolute returns with a performance target of LIBOR+10-15% a......................

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