Caravel Capital Investments Inc has promoted Jack Hidi to the position of Portfolio Manager. In his new role, Hidi will act as co-manager of the Caravel Capital Fund, the manager of the Caravel Capital Canada Fund, a mutual Fund trust offered in Canada through Corton Capital and Fundserv.
Hidi began his career with Caravel Capital Investment Inc as a summer analyst in 2019 after graduating from Western University with an HBA and a master’s degree in Data Analytics. At the end of the initial contract period, he was offered a full-time position by the founders, Jeff Banfield and Glen Gibbons.
The Caravel Capital Fund outperformed major indices in H1 2022 with a 2.3% (net of fees) return, annualised 18.21% returns since inception in 2016, and a Sharpe Ratio of 2 and generated 30.78% returns in 2021. Gibbons and Banfield utilise several strategies, including but not limited to convertible arbitrage, relative value arbitrage, capital structure arbitrage, merger arbitrage, distressed debt, and alpha long/short.
