Montreal-based hedge fund manager Crystalline Management Inc. has launched a new Canada-focused absolute return fund.
Co-managed by Martin Roberge and Carl Pelland, the Sapphire Canada+ Fund is a G7+Australia asset allocation and North-American equity sector rotation hedge fund.
Formerly employees of National Bank Financial (NBF) and Caisse de Depot et Placement du Quebec (CDPQ), the fund’s investment management team has over 20 years of combined experience in international derivatives and North-American equity sector analysis and portfolio management.
The fund’s principal manager, Martin Roberge, was an all-star ranked quantitative analyst from 2000 to 2003 as well as a highly-ranked portfolio strategist in 2001 and 2003 in Canada, according to the Brendan Wood International Institutional Investors Survey.
Capitalizing on worldwide economic trends impacting more specifically Canada, Sapphire targets an annual return of 12-15% above short term rates with a volatility below 15%. Its structure, combining macro strategies with a dollar neutral equity sectors portfolio, is designed to permit low correlation with both traditional asset classes and comparable hedge fund strategies. The managers will leverage the fundamental analysis expertise and proprietary quantitative models developed over the course of their careers.
"We are very pleased with the addition of this strategic ‘niche’ product to our offering of specialized absolute return funds. The highly cyclical composition of the Canadian economy makes it a unique terrain in which to establish the Fund’s strategies. Investors wishing to gain exposure to international developments impacting Canada and its resource intensive economy will certainly find Sapphire a conceptually appealing product", said Marc Amirault, President and CIO of the firm.
Founded in 1997, Montreal-based Crystalline Management Inc. offers institutional and qualified private investors the Amethyst Arbitrage Fund, a Canadian convertible securities and event driven strategies absolute return fund. From inception in July 1998 to May 2005, Amethyst has yielded a 10.5% net return per annum with a volatility of 4.7%.