Globe and Mail – On monday, when North American markets cratered, was not the most auspicious day to launch a closed-end fund of hedge funds, but Star Hedge Managers Corp. has been quietly trading since then.

This fund invests in the hedge funds or portfolios run by Eric Sprott of Sprott Asset Management Inc., Rohit Sehgal of Dynamic Mutual Funds Ltd. and Normand Lamarche of Front Street Capital.

Star Hedge Managers, which closed down 39 cents yesterday at $9.35 on the Toronto Stock Exchange, raised $75-million through an initial public offering of $10 a unit. It had targeted raising $500-million.

"I’m surprised" that it did raise $75-million given the tough market environment, said Phil Schmitt, chairman of the Canadian unit of the Alternative Investment Management Association. "There’s still a market for quality managers."

Read Complete Article

Tags: adm, alternative-investment-management-association, collectibles, duquesne-capital-management-llc, london-interbank-offered-rate, merrill, mkp-capital-management, net-proceeds, professional-investors, public-share, rjr-nabisco, sprott-asset-management, sprott-asset-management-inc

West Palm Beach (HedgeCo.net)- Dynamic Funds ("Dynamic") has announced the launch of two global growth funds, the Dynamic Power Global Navigator Class and Dynamic Power Global Balanced Class.

The fund manager also launched a hedge fund of funds, the Dynamic Alternative Opportunities Fund, giving retail investors access to a basket of the Company’s hedge fund products. Dynamic Alternative Opportunities Fund has the ability to invest in Dynamic hedge funds and closed-end funds, as well as externally managed hedge funds, private funds and other investment vehicles not generally available to the investing public.

"Dynamic Power Global Navigator Class is a go anywhere, do anything global growth fund," says Alexander Lane, VP and Portfolio Manager, "It offers investors exposure to global stocks with the safety profile of larger companies and the higher return profile of smaller companies."

The initial portfolio of the Dynamic Alternative Opportunities Fund will be composed of an approximately equal allocation of seven Dynamic hedge funds; the Power Hedge Fund, Alpha Performance Fund, Contrarian Fund, Power Emerging Markets Fund, Income Opportunities Fund, Strategic Value Fund, and Focus+ Alternative Fund.

The Dynamic Funds are managed by Goodman & Company, Investment Counsel Ltd., a subsidiary of DundeeWealth Inc. DundeeWealth is listed on the Toronto Stock Exchange.

Alex Akesson

alex@hedgeco.net

HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!
Be sure to check out our sister sites. www.hedgefundlounge.com, www.hedgefundtools.com, and www.hedgefundemployment.com

News Tags:boston, due diligence service, founding partners, fund specialist, jose alberto, nara, prison term, raising money, weather derivatives, west palm beach

Tags: boston, due-diligence-service, duquesne-capital-management-llc, evan-rapoport, ft-alphaville, fund-of-hedge-funds, global-footprint, pension-schemes, private-sector-pension, world-equity-markets