TORONTO, Aug. 25 /CNW/ - AlphaNorth Asset Management, manager of the
AlphaNorth Partners Fund ("Fund") delivers performance ahead of TSX Venture
index by nearly 50%.
With a track record in managing the Morningstar Canada's No.1 ranked
small cap pooled fund, Steve Palmer and Joey Javier opened AlphaNorth Asset
Management in 2007 and launched the AlphaNorth Partners Fund, a long biased
small cap hedge fund which is diversified across all sectors.
The Fund now has a 20 month track record during which time it has
outperformed the TSX Venture index by nearly 50%. The Fund has substantially
outperformed most small cap oriented funds even considering its decline of 53%
in 2008. In 2009, the Fund has recovered the majority of its losses, gaining
84% in the first 7 months. Since inception, the Fund has declined 7.8%
compared to a 56.4% decline for the TSX Venture index.
"The performance has definitely attracted a lot of interest in the
AlphaNorth Partners Fund as of late," stated Steve Palmer, President and CEO,
AlphaNorth Asset Management. "One of the unique aspects of the Fund is that it
is structured such that all the gains are sheltered from tax until investors
redeem their shares. This combination of tax deferral and strong investment
returns compounded over time is very powerful and significantly enhances the
after tax returns for investors."
Palmer continued, "Following a major market low, it is not uncommon for
the most beaten down areas to offer the best returns going forward. When U.S.
equities bottomed in 2002, it was the NASDAQ tech stocks that were hit the
hardest, but it was these same stocks that outperformed in the next bull
market. Similarly, the high beta, low market cap stocks were the group hardest
hit in 2008, but they have led the market rebound in 2009 and they continue to
be the market leaders."
As a team, Palmer and Javier have managed small cap equities of almost 11
years. Over this time frame, their managed funds are up over 14x or nearly 30%
annualized despite enduring the market meltdowns in 2000/2001 and 2008.
"Investors view Canadian equities as offering the best potential for
future gains," concluded Palmer. "Within Canada, small cap stocks historically
have outperformed especially after a significant decline as experienced in
2008." Posting a YTD return of +84% shows that timing is indeed, just right.
AlphaNorth Asset Management ("AlphaNorth") is a Toronto based investment
manager. AlphaNorth believes that superior long term equity returns are
achievable by exploiting inefficiencies in the Canadian small cap universe
through careful security selection on both a long and short basis. The firm
combines technical analysis with both a bottom-up and top-down strategy in the
selection of investments offering the best reward versus risk opportunities.
AlphaNorth manages the AlphaNorth Partners Fund which is a long biased small
cap focused hedge fund, which was launched in December 2007. The Fund's
objective is to achieve industry leading long term returns.
More details about AlphaNorth and its investment products can be found at
their website at www.alphanorthasset.com.
For further information:
For further information: Steven Palmer, CFA, President and CEO,
AlphaNorth Asset Management, 144 Front Street West, Suite 420, Toronto,
Ontario, Canada, M5J 2L7, Phone: (416) 483-4448