Investors Meet Canadian Hedge Fund Managers Forum

The 4th Investors Meet Canadian Hedge Fund Managers Forum was held at the Windows Suite, on the 32nd floor, of the Four Seasons Hotel.

The Forum was sponsored by:
Felcom Data Services; KPMG and CIBC Prime Brokerage Services.

More than 80 delegates, consisting of asset managers, and both private and institutional investors, attended the event. The day's agenda was moderated by Peter Hayes, Partner at KPMG and comprised of three panel sessions and speeches by Jeff Banfield, JMO Research and David Mather, Integrated Managed Futures.

Attendees were asked to make a hypothetical allocation of US$100 million, distributed among the funds presenting. This hypothetical allocation exercise was repeated at the close of the day's proceedings, and we are proud to announce that Greenrock Asset Management (Peter Hoftsra from Panel Two) won the most improved allocation of the day, and Palos Credit Fund LP (Adam Smalley from Panel One) came in a close second, both funds with over a 150% improvement during the day. Our congratulations to both Greenrock and Palos.

"Thanks Sarah. I definitely enjoyed the event and made some great connections...appreciated the opportunity to be involved. Keep me posted on the other ventures." Peter Hayes, Partner, KPMG.   "Just wanted to let you know (again) what a great success you made today. All the feedback I heard was very positive, and all the speakers were well picked. Congrats on a job well done!" Dennis E. Macpherson, Executive Vice President & COO, Felcom Data Services Inc.   "Please keep me informed of all upcoming events, even in the development stage. It is possible that either one of our managers or myself may be available to participate in either a speaker or moderator capacity. Thanks again for a great event." Robyn E. Graham, Vice President, Sales & Marketing, Northern Rivers Capital Management Inc.   "Congratulations, once more, on an outstanding event." Claude Robillard, Managing Director and CMO Artemis Investment Management Listen to Jeff Banfield's speech, plus Q&A session...

Jeff Banfield, JMO Research "Heads they win - tails you lose." Examining the flaws in hedge fund compensation and some simple changes that will help protect investors' capital in the future. This article will discuss a topic that is, at best, a contentious one — hedge fund compensation. To put this article in context, I think it is worthwhile to provide readers with some of my background. In 1986, I began an 11-year career in proprietary trading with major Canadian investment banks. I then created and ran a hedge fund from 1996 until the beginning of 2002. I first learned what the term ‘executive stock option’ meant in university in the early 1980s; the term was used in an editorial attack on a CEO whose biography I had read. As I had always believed that he had taken huge risk in creating his wealth, I was quite surprised. It was at this point, as the rest of the world began to take notice of the obscene levels of compensation given to executives, the press put it on the front pages with headlines like ‘greed’ and ‘intemperance’. Essentially, directors who were being paid to be the guardian of a company’s shareholders were letting the foxes raid the coup. Executives were vilified for exercising options and selling all the shares. These options were an incentive for management to prefer short-term stock appreciation to long-term profits. It has taken decades of shareholder pressure, and a critical spotlight from the media, but directors and senior management now maintain large amounts of their wealth in the shares of the companies, or they run or risk of being replaced, or even dealing with legal scrutiny... (Click here to read the full article based on the Jeff Banfield's speech)   David Mather, Vice President & Director, Integrated Managed Futures Finding stable predictable returns in times of stress. (Click here to view David Mather's presentation in Pdf format)

Sponsors of this event

CIBC is a leading Canadian provider of Prime Brokerage services for alternative investment managers. From our robust prime brokerage accounting and reporting platform to our experienced customer service staff, we provide hedge fund clients with an integrated suite of services in trade execution, securities lending, reporting, research and capital introduction.

Felcom Data Services Inc. (FDS) has been providing Fund Accounting and Transfer Agency services to investment fund manufacturers since 2001, and offers a total solution to address all investment product administrative requirements.

KPMG LLP, a Canadian limited liability partnership established under the laws of Ontario, is the Canadian member firm affiliated with KPMG International, a global network of professional firms providing Audit, Tax, and Advisory services. Member firms operate in 145 countries and have more than 123,000 professionals working around the world.

Media Partners

The Day`s Agenda

Click here to view the agenda from the IMM Forum on June 8 2009.