Hedge Funds

SciVest plans Oil Sands market neutral fund


SciVest Capital Management, the Toronto-based hedge funds shop that specializes in market neutral strategies, will soon launch a fund that will invest in Canadian oil sands extraction companies.

The fund, which will start trading next month, will overlay the firm's market neutral strategy onto investments in the Oil Sands Sector Index, which is constructed by Calgary-based Sustainable Wealth Management.

 John Schmitz

That index tracks 13 companies engaged in harvesting petroleum from the Alberta oil sands, which are thought to be the world's largest reserve of oil trapped in a mixture of sand, water and clay.