IPerform Shuffles Managers for Fund

TORONTO (HedgeWorld.com)–IPerformance Fund Inc. will reallocate assets within the iPerform Strategic Partners Hedge Fund, reducing money managed by Hillsdale Capital Management Inc. and adding to assignments with J.C. Clark Ltd. and SciVest Capital Management Inc., all based in Toronto.

Hillsdale's share of the C$157 million (US$101 million) fund will fall to 31% from 38%, dropping C$12 million. J.C. Clark will receive an additional C$5 million, bringing its allocation to about 9%. SciVest will receive an additional C$7 million, bringing its fund allocation also to about 9%, according to an iPerformance statement. The change was made to better position the fund from both capital appreciation and volatility perspectives.

The two largest managers for the fund, Sprott Investment Management, Toronto, and Gabelli Asset Management Inc., Rye, N.Y., will continue investing with their existing allocations of 34% and 17%, respectively. In September, iPerform dropped a portfolio managed by Global Asset Management, New York, from the fund Previous HedgeWorld Story.