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From Kirsten Bischoff, Opalesque New York:

Vancouver-based Sherpa Asset Management has added to their investment management team with the addition of Peter Spee as Managing Director. Spee, who was formerly a Managing Director at RBS Securities in Tokyo also worked with Sherpa’s CIO David Guarasci at TD Securities.

Sherpa ended 2010 gaining 12.15% for investors. The fund, which launched directly into the global financial crisis in June 2008, has returned a total of +16.42% to investors since launch. Focused on blue chip North American equities the fund invests primarily in index holdings form the S&P 500 and the S&P/TSX 60 Index. At launch, the team detailed their strategy to Opalesque, explaining that: in addition to the investments in mid- to large-cap North American Equities, the fund overlays each holding with an options trading strategy. The fund also utilizes selective and opportunistic shorts as well as long opportunistic gamma/options plays. Finally, the team looks to add value through trading the US/Canada Exchange against the equity holdings.

Despite launching into the tightest asset raising environment in the history of the hedge fund industry, the firm has been able to significantly grow its asset base. In June 2010 the firm launched a second fund, the Sherpa Market Neutral Fund and also made news......................

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