Hedge Funds

SciVest launches first fund of funds


Canadian quantitative hedge fund operator SciVest Alternative Strategies is preparing to launch its first fund of funds.

By September, Toronto-based SciVest will begin offering the new global, multi-strategy product through sub-advisor Connor, Clark & Lunn Financial Group. In total, Vancouver-based Connor, Clark, which is based in Vancouver, runs C$19.3 billion ($14.5 billion).

SciVest's new fund is tailored for individual Canadians investors. It is designed to minimize taxes and will employ a leverage feature aimed at producing a low double-digit net return (10% to 12%), while limiting volatility to 8% to 10%.

Separately, in July SciVest launched a short-biased