Curvature Market Neutral Fund

North American Market Neutral Equity

  • Uses fundamental, systematic and event driven sub-strategies to generate returns
  • Targets market neutral returns with downside protection through active management
  • Managed by James Hodgins and team at CHS Asset Management

Investment Solutions

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Commentaries

Click a file below to download a commentary for the Curvature Market Neutral Fund

Fund Overview

Objective & Strategy:

The Fund aims to maximize returns while remaining neutral to market exposure. The Fund targets annual returns between 10% and 15% with less than half the volatility of broad equity markets.

Strategy

This Canadian based market-neutral fund employs a multi-strategy approach to investing in equity and equity-linked securities of small and mid-cap companies, primarily in Canada and the United States. The Fund invests in event driven opportunities, adjusting dynamically to market changes. The Fund also will buy quality companies with reasonable valuations going through fundamental positive change and sell short lower quality companies with high valuations in the midst of negative fundamental change.

The Fund targets low correlation to equity markets.

Ideal for:

The Fund will appeal to investors seeking a market neutral strategy with low correlation, above-average growth potential and moderate volatility. The Fund would pair well with a long-only Canadian equity fund or index exchange-traded funds (ETFs).

Fund Performance

The Fund aims to maximizing absolute return on investments while remaining neutral to market exposure and targets annual returns between 10% and 15% with less than half the volatility of broad equity markets.


Historical Performance as of April 30, 2012

YearJanFebMarAprMayJunJulAugSepOctNovDecYear
2012-0.7%0.8%1.4%1.8%3.3%
20111.3%1.7%-0.1%0.1%0.1%0.7%1.1%1.2%0.6%-1.3%1.0%-0.2%6.4%
20102.2%0.7%0.4%-0.8%-1.3%1.7%-0.9%0.7%-1.8%1.8%0.4%4.0%7.0%
2009-0.5%-3.0%3.0%0.3%0.0%-0.4%

From August 1, 2009 to April 30, 2010, returns are for the Arrow C Multi-Strategy Fund (Class X), are adjusted to reflect Class A fees. In May 2010 the trust for Curvature Market Neutral Fund was created and the assets from the Arrow C Multi-Strategy Fund were transferred to the new trust. Both funds are managed with the same investment mandate by CHS Asset Management.

Source: Arrow Capital Management Inc./Pertrac, 2012.

Investment Details

 
Fund Code FE 'A' Class AHP520
Fund Code FE 'F' Class AHP528
Management Fee 2.5%
Incentive Fee/Allocation 20%
Purchases Weekly
Redemptions Monthly with 20 business days notice
Prime Broker Scotia Capital
Auditor PriceWaterhouseCoopers
Administrator: RBC Dexia
^ Minimum Investment for accredited investors $25,000
^ Minimum Investment with a Risk Acknowledgement Form (For residents of BC, Newfoundland and Labrador, New Brunswick, and Nova Scotia), $25,000

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