TSX VENTURE SYMBOL: IPR
JANUARY 17, 2003 - 15:58 EST
iPerformance Fund Inc.: iPerform Hedge Funds Changes
Name To BluMont Capital; Appoints New President
TORONTO, ONTARIO--iPerformance Fund Inc. (TSXV: IPR) (the
"Corporation") is pleased to announce that, effective January 20,
2003, its subsidiary, iPerformance Fund Corp., will be changing
its name to BluMont Capital Corporation. The name change is being
conducted as part of an overall corporate re-branding initiative
to better reflect BluMont Capital's position as one of Canada's
leading hedge fund companies, providing blue-chip alternative
investment products of the highest calibre.
"The new name is more befitting of who we are and where we are
going as a company", explained Bryan Nykoliation, Vice President
of Marketing. "2002 was a very successful year for the company,
with significant strides made towards meeting our mandate to
offer Canadian investors the opportunity to invest with leading
hedge fund managers from around the globe."
Over the past 12 months to December 31, 2002, the firm
accomplished several key milestones including a +393% increase in
hedge fund assets under management from C$57 million to C$281
million, the launch of the largest retail-offered closed-end
hedge fund product in the history of the Toronto Stock Exchange,
the launch of two new single-manager funds, the BluMont Market
Neutral Fund and the BluMont Hirsch Long/Short Fund, and the
entering into of a strategic alliance with one of the world's
largest alternative investment firms - Man Investment Products.
"On behalf of the Corporation, I am pleased to announce the
appointment of Paul Perrow as President of both iPerformance Fund
Inc. and BluMont Capital Corporation effective today." declared
Toreigh Stuart, Chief Executive Officer of BluMont Capital. "I'm
looking forward to Paul helping me continue to build the
company." Mr. Perrow brings over 15 years of Canadian investment
industry to BluMont Capital. He has held a variety of senior
management positions including Senior Vice President with C.I.
Funds and Co-Head and Managing Director with Merrill Lynch
Investment Managers Canada.
"Over the past year, we have worked on creating a strong
foundation for the company both with product offerings and with
our management and sales teams" Toreigh Stuart said today. "Our
name change and re-branding initiative represent the beginning of
a new stage of development for the company and I look forward to
an exciting year as we strive to expand the alternative
investment products we provide."
It is anticipated that, at its upcoming annual meeting of
shareholders, the Corporation will request that its shareholders
approve a name change from "iPerformance Fund Inc." to "BluMont
Capital Inc.".
BluMont Capital is one of Canada's leading hedge fund companies,
providing blue-chip alternative investment products of the
highest caliber. BluMont Capital is 46.1% owned by Toronto-based
Integrated Asset Management Corp. (TSXV:IAM), a premier
alternative asset class manager with over C$1 billion in assets.
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FOR FURTHER INFORMATION PLEASE CONTACT:
BluMont Capital
Toreigh N. Stuart
Chief Executive Officer
416-216-3566
or
BluMont Capital
Bryan A. Nykoliation
Vice President, Marketing
416-202-6695
The TSX Venture Exchange Inc. has not reviewed and does not
accept responsibility for the adequacy or accuracy of this
release. |
