Toronto hedge funds may take on New York; Double-digit growth expected over the next two years.(News)

Investment News, November, 2006

Byline: David Clarke OTTAWA - Could Toronto eventually take on New York as a hub for the North American hedge fund market? Or is it doing so already? After all, "Toronto's hedge fund industry is beginning to attract the attention of the capital markets community domestically and globally,'' said W.

William Weeks, president of Toronto-based hedge fund analyst firm WWWoods & Co. Ltd. "The number of funds under management has risen from around 50 in 1999 to over 200 in 2006, with assets under management in access of $40 billion [U.S.],'' he added. The Montreal-based Canadian Securities Administrators - Canada's de facto regulator - forces hedge funds to register, and more than likely, hedge fund administrators soon also will have to...

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