BluMont Capital and Man extendCanadian strategic partnership

BluMont Capital, the Toronto-based alternative investment company, has announced an extension of its 19-month-old alliance with Man Investments, the US arm of London-based hedge fund manager Man Group.

The strategic alliance, which was not due to come to an end for another six months, allows BluMont to market and distribute co-branded structured products in Canada to retail investors. The company has sold over C$342 million of BluMont Man offerings since March, 2003.

These have included the Multi Strategy Series 4 Notes, a capital-guaranteed product with an 11-year maturity which invests in a range of six different hedge fund strategies, including managed futures, arbitrage, fund of hedge funds, equity hedge, equity long/short and directional. The capital guarantee was provided by Citibank Canada and the notes carried a minimum investment of C$5000.

The alliance comes at a time when many firms in Canada are boosting their hedge fund offerings. Avenue Financial Asset Management, the Toronto-based mutual fund company, recently announced the approval for release of its structured shares, which will invest in offshore funds of hedge funds and are being sold through private placement to accredited, high-net-worth investors.