TORONTO (HedgeWorld.com) – The Tremont Capital Opportunity Trust’s initial closing totaled C$40 million (US$27.6 million), as the units became listed on the Toronto Stock Exchange, according toTremont Investment Management.<\/p>\n
Units of the fund are listed under the trading symbol “TT.UN” and a total of 4 million units were sold by Tremont. Tremont is the investment advisor to the underlying offshore investment entity, Tremont Hedge Fund Ltd.<\/p>\n
The underlying portfolio invests in a variety of offshore hedge funds that are focused in a number of specific strategies such as long\/short equity, equity market neutral, global macro, convertible bond arbitrage, fixed-income arbitrage, merger arbitrage, distressed securities and high-yield bonds. Most of the strategies invest in markets outside of Canada.<\/p>\n
Tremont Partners, a subsidiary of Tremont Advisers*, manages the multi-strategy, multi-manager hedge fund portfolio. Tremont already handles more than US$8 billion in assets and also has registered hedge funds in the United States.<\/p>\n
The trust is retail and the units are 100% eligible to be included in registered retirement savings plans. The trust is a first in Canada, investing in Canadian hedge funds and is offered only to Canadian investors.<\/p>\n
Tremont Capital Opportunity is also unique in that it has a forward agreement that is not a capital guarantee but allows for the flow-through of hedge fund returns in a capital asset portfolio that is not subject to taxes until the 10-year term of the agreement has expired. The forward agreement was set up with TD Global Finance and expires prior to March 29, 2013.<\/p>\n
Skylon Funds Management Inc. is the trust’s administrator. TD Securities and CIBC World Markets Inc. are co-lead agents for the trust along with a syndicate of investment dealers.<\/p>\n
*Tremont Advisers Inc., Rye, N.Y., is a strategic partner of and a minority investor in HedgeWorld.<\/p>\n","protected":false},"excerpt":{"rendered":"
TORONTO (HedgeWorld.com) – The Tremont Capital Opportunity Trust’s initial closing totaled C$40 million (US$27.6 million), as the units became listed on the Toronto Stock Exchange, according toTremont Investment Management. Units of the fund are listed under the trading symbol “TT.UN” […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-2","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/2","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=2"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/2\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=2"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=2"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=2"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}