TORONTO, Oct. 6, 2017 /CNW/ - AlphaNorth Asset Management ("AlphaNorth"), manager of the AlphaNorth Partners Fund and AlphaNorth Growth Fund ("the Funds"), delivers strong performance in September well ahead of TSX Venture index. The AlphaNorth Partners Fund, a long biased hedge fund, gained approximately 17% during the month of September while the AlphaNorth Growth Fund gained 23%.
AlphaNorth advises that as of September 30, 2017 it acquired ownership of additional shares and warrants of Leonovus Inc. (TSXV:LTV). On a partially diluted basis, assuming the exercise of all warrants, funds managed by AlphaNorth have the potential to own or control 12.5% of the shares of Leonovus.
"We are excited about the Leonovus opportunity," said Steve Palmer, President and CIO of AlphaNorth Asset Management. "The company is among the leaders in the emerging blockchain space. To date, there are very few opportunities from a public company perspective for investors to gain exposure to this fast growing and disruptive technology. We believe Leonovus is among the best positioned to achieve success."
AlphaNorth is well regarded and recognized as one of the leading investors in Canadian innovation companies providing financing for many emerging technologies including blockchain technology.
The AlphaNorth Partners Fund, despite very challenging conditions in the Canadian junior market, has achieved a positive return of approximately 36% since inception.
"While we have already benefitted from our investments in the blockchain space, we believe that we are still in the early innings of a bull run and are set to capitalize on further momentum," said Tina Byers, Associate Portfolio Manager at AlphaNorth.
The AlphaNorth team has managed small cap equities for nearly 20 years, winning numerous awards and achieving industry leading returns during this period.
AlphaNorth Asset Management is a Toronto based investment manager. AlphaNorth believes that superior equity returns are achievable by exploiting inefficiencies in the Canadian small cap universe through careful security selection. 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, and two mutual funds, the AlphaNorth Growth Fund and the AlphaNorth Resource Fund. The Funds' objectives are to achieve industry leading returns.
More details about AlphaNorth and its investment products can be found on their website www.alphanorthasset.com.
SOURCE AlphaNorth Asset Management
For further information: Steven Palmer, CFA, President and CIO, AlphaNorth Asset Management, 333 Bay Street, Suite 630, Toronto, Ontario, Canada M5H 2R2, Phone: 416-483-4448