New York (HedgeCo.net) – BVI-based investment manager Bluenose Capital Management is planning to launch The Bluenose North American Market Neutral Fund, an onshore version of its successful offshore flagship hedge fund on March 1st, 2010.
The Delaware-domiciled fund has a 1 year lock-up period, with a minimum investment of $250,000, with a 1% management fee and 20% incentive. Bluenose’s JS Pelletier and Dario Borelli will be managing the fund.
Aimed at U.S. accredited and qualified investors, the US & Canada equity market neutral fund has 4 underlying strategies employed according to prevailing market conditions, including systematic, quantitative & automated investment process. With rigorous risk management practices ensuring low downside volatility the new fund trades only highly liquid exchange-listed securities.
The objective is to generate an annualized compound rate of return of 15% with lower downside volatility vs. the S&P500 and TSX benchmarks. Using proprietary multi-factor models, the fund will engage in short-term market neutral trading in Canadian and U.S. liquid exchange-listed securities. The fund has a capacity of $700 million at the trading level.
Bluenose Capital Management Ltd. is an alternative investments trading firm, specializing in market neutral strategies. Bluenose Capital Ltd. is registered with the British Virgin Islands Financial Services Commission as a Professional Fund under the 1996 Mutual Funds Act.
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