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Komfie Manalo, Opalesque Asia: Canada's small cap-focused hedge fund Alpha North Asset Management closed 2017 on a high note with two of its funds generating double-digit returns, outperforming its benchmarks.
The firm's main hedge fund, AlphaNorth Partners Fund ended 2017 up 69.0% (+11.4% in December) while its AlphaNorth Growth Fund was up 21.5% during the year (-7.4% in December). Comparatively, Alpha North's benchmarks, the S&P/TSX Venture Index and the S&P/TSX Total Return Index gained 11.6% and 9.1% respectively in 2017 (+7.8% and +1.2% in December).
Alpha North President and CIO Steven Palmer, commented, "The fund (Alpha North Partners) had another strong month vaulting performance well ahead of the Canadian benchmarks for the year. Over the past several months, trading activity has been more active as we have recycled some profits from some of our winning investments into new private placements which offer more attractive risk/return profiles."
He added that AlphaNorth Partners was the lead order for recent financings for BlueOcean Neutrisciences and 3D Signatures. Both investments included a full warrant with a five year term. These warrants will substantially increase the hedge fund's return on these investments if the share prices perform as they expect.
"Both of these investments have already appreciated materially since our purchases," Palmer added and continued, "However, we believe...................... To view our full article Click here
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