Stornoway Portfolio Management Wins Canadian Hedge Fund Award for Third Consecutive Year

TORONTO, Oct. 24, 2016 /CNW/ - Stornoway Portfolio Management Inc. ("Stornoway") is pleased to announce that for the third year in a row The Stornoway Recovery Fund LP won first place for the Best 5-Year Return in the Credit Focused Category from the Annual Canadian Hedge Fund Awards.

Scott Reid, President of Stornoway commented:

"Winning the Canadian Hedge Fund Award for the Best 5-Year Return in the Credit Focused Category for a third consecutive year affirms our investment approach, which marries our expertise with opportunity, enabling us to consistently generate both superior and diversified investment performance for our investors. Since our inception in 2004, Stornoway has favoured strategies that generate larger long-term gains over approaches that focus on short-term and often short-lived results.

Stornoway's 'edge' has been our creativity, expertise and willingness to take a leadership role in providing solutions to financially-stressed companies that return focus and financial discipline to these fundamentally good businesses. We seek out opportunities where our 'edge' puts us in an unique position to contribute value at every stage of the investment process, from identifying and evaluating the opportunity, to negotiating the terms of a financial restructuring, to overseeing the operational turnaround, and ultimately exiting the investment once the company has been successfully revitalized. Stornoway believes our approach to financial restructuring and risk mitigation has enabled good companies to prosper, creating value for their investors, customers and employees.

Stornoway is particularly appreciative of our investors who support our shared vision of long-term value creation, enabling our team to seek out opportunities that can generate superior long-term performance."

About the Annual Canadian Hedge Fund Awards

The Annual Canadian Hedge Fund Awards were first held in 2008 and have a two-fold objective: first, to celebrate the talent and accomplishments of Canada's hedge fund industry, and second, to draw attention to Canada's hedge funds by raising the awareness of that expertise in the media and among the wider investment community. For more information go to www.alternativeiq.com.

Stornoway Portfolio Management

Stornoway Portfolio Management Inc. ("Stornoway") is a private investment firm that specializes in creating and capturing value from revitalizing companies that require an operational and/or financial turnaround.  Stornoway takes an active approach to investing by harnessing existing and nurturing new partnerships necessary to rebuild companies into sustainable businesses, adding value and providing stability to customers, employees, and other stakeholders.

SOURCE Stornoway Portfolio Management Inc.

For further information: Stornoway Portfolio Management Inc.: Scott Reid, President, (416) 250-2845, sreid@stornowayportfolio.com

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