Canadian hedge fund takes top international ranking

Date: Wednesday, May 21, 2003

Abria Diversified Arbitrage Trust, a market-neutral fund of hedge funds based in Toronto, climbed to the top of the rankings compiled by MARHedge, a global monitor of hedge fund managers, in April. Based on data to the end of March, the fund's three-year risk-adjusted performance surpasses that of every other fund of funds worldwide, while the fund's one-year record places it 10th. MARHedge tracks the performance of 1,300 hedge funds. "It is a proud and rare day that a Canadian money management firm can boast true global leadership in any area, let alone one as essential as [hedge funds] for the future," said James Wanstall, vice-president of business development at Abria.