Hedge Funds

Front Street legends debut fund


Canadian-based fund manager, Front Street Capital, has added another hedge fund to its line-up. The firm recently launched an offshore long/short fund focused on the energy and power sectors. The fund is co-managed by Norman Lamarche and Frank Mersch, both former star portfolio managers with Canadian mutual fund giant, Altamira Investment Services. Since leaving Altamira, Lamarche and Mersch have generated an average annual return of 25% for Front Street's domestic hedge fund over the past four years. Their long-only Energy fund has averaged 22.7% over the four years under management versus the S&P 500 Energy sub-index of -18.8%.