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From Benedicte Gravrand, Opalesque London: Opalesque reports on a small selection of the 300 hedge funds located in Canada. The hedge fund industry in this northernmost part of the Americas is young and agile and looking to use these very advantages to become a force in global asset management (see part 7 here).

Opalesque meet with Robert J. Toole a while ago. Mr. Toole is the managing director of Toronto-based Creststreet and a 20-year energy sector veteran. Creststreet’s energy hedge fund is not so new – it was incepted in 2005 - but it is by far one of the best performing around.

Creststreet Global Energy Opportunities Fund Creststreet Global Energy Opportunities Fund Inc. (“CGEOF”) employs fundamental securities selection by taking both long and short investment positions in equity, debt and derivative securities and through strategic trading. CGEOF’s portfolio will consist primarily of securities of issuers engaged in the global energy sector.

The Cayman-domiciled fund was incepted in April 2005, returned 14.94% in June 2008, 52.05% YTD and its compounded annual return (since inception) is 21.00%. It manages C$21.5m.

“The general strategy that we have been employing has been to be long in high-growth Canadian and international exploration companies and oil-sands development companies, and to be short in larg......................

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