Globe and Mail- Canadian hedge fund managers oversee about $20-billion in assets, but can add octane to their growth by playing the resource card to tap foreign investors, says the chairman ofthe industry association.
“Canada externally is perceived as a resource play,” said Phil Schmitt, who heads the Canadian chapter of the Alternative Investment Management Association (AIMA).
“It’s easier to sell that” as foreign investors recognize there is a unique investment in this country, he said yesterday after a speech to a Hedge Funds World Canada conference.
“Once you hook them in, you can say we’ve got a great banking structure and technology industry, and there is a lot of opportunity to trade, and get returns from those non-resource sectors as well.”
