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Arrow Hedge Extends Sale of Guaranteed Notes

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TORONTO (–Arrow Hedge Partners Inc. will now sell the Arrow Multi-Strategy Hedge Notes Series I until June 20, according to a recent announcement from the company.

The offering period was extended last week. Originally, the first note series was expected to close in early to mid June Previous HedgeWorld Story. The note’s performance is linked to the Arrow Multi-Strategy Hedge Fund, which is a fund of funds that currently invests in 16 hedge fund managers. Note holders are guaranteed principal repayment at maturity plus any appreciation of the value of the fund. The issuer of the note BNP Paribas (Canada) provides the guarantee.

According to Arrow, the underlying hedge fund has 100% transparency with each manager and uses risk management tools, such as RiskMetrics. The fund is expected to allocate to 20 hedge fund managers across nine different investment strategies including: long/short equity, equity market neutral, high-yield hedge, risk arbitrage, convertible arbitrage, fixed-income arbitrage, distressed securities, managed futures and global macro.

Arrow Hedge Partners offers a number of funds of funds vehicles and manages C$130 million (US$96 million) for both retail and institutional investors. The Multi-Strategy Hedge Fund originally was launched in March 2002 and includes strategies in the existing Arrow Hedge Partners fund lineup Previous HedgeWorld Story.

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