MONTREAL, Dec. 6, 2012 /CNW Telbec/ - Innocap Investment Management Inc. (''Innocap''), a strategic alliance
between National Bank of Canada and BNP Paribas, has teamed up with
Akira Capital Inc. ("Akira"), a new Montreal-based fund manager, to
launch the Innocap Akira Commodity Fund LP (''Fund''). Akira
specializes in commodity derivative investments and uses a
discretionary, multi-strategy approach to trade in listed futures and
options across all commodity sectors.
Headed by Yves Martin, the firm currently has $25 million of assets
under management and was named after a climbing wall located in Western
France, which was at one point the most difficult natural climbing wall
ever successfully climbed.
Yves Martin founded Akira to manage funds for institutional investors
and accredited investors with the aim of delivering positive absolute
returns by combining a top-down and a bottom-up investment process
focused on commodities. Mr. Martin is Akira's President and a former
Vice President for Jefferies Financial Products in Stamford,
Connecticut, after spending most of his career at Caisse de dépôt et
placement du Québec ("Caisse''), one of Canada's largest managers of
pension funds. Also on Akira Management team are Vice President,
Investments Hervé Fefer, former commodities portfolio manager at
Caisse; Chief Risk Officer Paul Turcotte, also formerly at Caisse; and
trader and market Analyst Olivier Tardif-Drolet, former trading analyst
on the natural gas desk of BP Integrated Supply and Trading. The four
partners will also be looking to launch a second commodity fund for
U.S.-based and foreign investors in the first half of 2013.
The Fund joins other Canadian managers (Innocap Casgrain Bond Fund LP,
Hexavest GTAA Fund LP, NBCAI Credit Dislocation Fund LP and Innocap
Sigma Alpha GM+ Fund LP) on Innocap's Canadian Limited Partnership
Structure which has reached $260 million in assets under management as
of November 30th, 2012. The structure thus now houses five specialized Quebec-based
managers with strong portfolio management skills and knowledge of local
and international markets. The offering addresses investors' appetite
for hedge funds while providing visibility for Quebec and Canadian
managers. The Innocap platform provides a risk and asset-controlled
environment for investing in hedge funds.
According to the recent report by Citigroup, "The New Abnormal: 2013
Commodities Outlook'', the end of the commodity super-cycle combined
with extended periods of negative roll yield will cause investors to
shift from simple long-only strategies to more enhanced-beta or
alpha-focused commodity strategies. The same report also mentions that
"exceptional rewards from tail risk events should continue to make
commodities an attractive investment vehicle for a wide array of
portfolio managers, as no other asset class provides such an
opportunity from wildcards''.
Innocap, which stands for Innovative Capital, is the result of 16 years
of investments in hedge fund strategies with approximately $2.3 billion
in assets under advisory as of November 30th, 2012. Innocap acts as the
Investment Manager for the Canadian limited partnership structure and
as Investment Advisor to Innocap Global Investment Management Ltd,
which manages a Malta-domiciled collective investment scheme licensed
as a Professional Investor Fund. Innocap offers hedge fund managed
account solutions using a conservative approach to hedge fund investing
with a strong emphasis on risk management, asset control and
transparency. This structure increases control over assets; no money is
invested directly in the managers' hedge funds. Created by an
institutional investor for institutional investors, Innocap's core
values, such as a transparent fee structure and no hidden conflicts of
interest, are aligned with the high standards expected in the markets.
For more information, visit Innocap's website at www.innocap.com.
About National Bank of Canada
With $178 billion in assets as at October 31, 2012, National Bank of
Canada (www.nbc.ca), together with its subsidiaries, forms one of Canada's leading
integrated financial groups, and was named among the five strongest
banks in the world by Bloomberg Markets. The Bank has close to 20,000
employees and is widely recognized as a top employer. Its securities
are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's
activities via social media and learn more about its extensive
community involvement at clearfacts.ca and commitment.nationalbank.ca.
SOURCE: National Bank of Canada
For further information:
(The telephone number provided below is for the exclusive use of journalists and other media representatives.):
Innocap Investment Management Inc.
Innocap Investment Management Inc.