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From Opalesque Team:

As the battle to remain afloat during the financial downturn is starting to recede, some Canadian hedge fund managers who have remained steadfast have given credit to their strategy to look inwards and made the most of opportunities in Canada.

In a recent Opalesque Roundtable discussion with Opalesque (Opalesque Roundtable (Toronto)), two fund managers based in Toronto have shared their views as to how they outperformed their peers even in the midst of financial distress.

Gary Ostoich, who took over as Canadian chairman of the Alternative Investment Management Association in September, noted that managers now see wider allocation of funds from foreign and local investors.

"Home front" strategy

Barry Allan, founder of Marret Asset Management-which has roughly $3.4 billion in assets and targeting to reach $4 billion will be attained by focusing more on Canadian companies.

Allan's newly created investment grade fund will target local firms that they envision to run in the long/short and long-only format.

"We have recently launched an investment grade fund that hopefully will take us closer to $4 billion (in managed assets). We run three products at this time: high yield credit products that are long/short and long-only. We also have a long/short resource-yield product which is designed specifically for Canadian energy and mining ......................

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