Star Hedge Managers Corp. announces separation of class A shares and warrants

    TORONTO, Oct. 29 /CNW/ - Star Hedge Managers Corp. (the "Fund") announced
the separation today of its Units into Class A Shares and Warrants for Class A
Shares of the Fund.
    Each Unit consisted of one Class A Share of the Fund and one Warrant to
purchase one Class A Share. Each Warrant entitles the holder to purchase one
Class A Share at a subscription price of $10.35 on October 30, 2009. Warrants
may be tendered for exercise on and after October 15, 2009 and up to October
29, 2009 (being the two week period preceding the expiry date for the
Warrants). Warrants not tendered for exercise by October 29, 2009 may not be
exercised and will be void and of no value.
    The Fund's investment objective is to provide long-term capital growth by
investing in a portfolio consisting of private investment funds or portfolios
managed by three of Canada's leading portfolio managers: Rohit Sehgal of
Dynamic Funds, Eric Sprott of Sprott Asset Management Inc. and Normand
Lamarche of Front Street Investment Management Inc.
    The Class A Shares and the Warrants are listed and now trade separately
on the Toronto Stock Exchange under the symbols XHM.A and XHM.WT,

    About the Fund's Investment Strategy:

    The Fund will provide investors with exposure to a portfolio initially
consisting of approximately equal investments in Dynamic Power Hedge Fund
managed by Rohit Sehgal, Sprott Hedge Fund L.P. II managed by Eric Sprott and
a separate account managed by Normand Lamarche of Front Street (the "Front
Street Managed Account"). The Front Street Managed Account will employ
investment strategies used by Front Street Resource Hedge Fund Ltd. and Front
Street Special Opportunities Canadian Fund Ltd. (both managed by Normand
Lamarche). Dynamic Power Hedge Fund, Sprott Hedge Fund L.P. II and the Front
Street Managed Account are generally otherwise available only to high net
worth or institutional investors.
    To obtain further details about Star Hedge Managers Corp., including
investment risks, refer to the final prospectus. Copies of the final
prospectus may be obtained from your IDA registered financial advisor or by

For further information:

For further information: Please contact your IDA registered financial

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