CSA of Hong Kong and Van Announce Alliance.Business Editors HONG KONG--(BUSINESS WIRE)--March 17, 2003 Charles Schmitt and Associates Ltd. of Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. ("CSA (1) (Canadian Standards Association, Toronto, Ontario, www.csa.ca) A standards-defining organization founded in 1919. It is involved in many industries, including electronics, communications and information technology. ") today announced an alliance with Van Hedge Fund hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" Advisors International, Inc. ("VAN") to produce, manage and market the CSA Absolute Return Fund Plus Ltd. (the "Fund"). CSA has been investing in absolute return strategies since 1997 and has averaged 16.5% per year, having only 5 down months out of 73, with the biggest drawdown Drawdown The peak to trough decline during a specific record period of an investment or fund. It is usually quoted as the percentage between the peak to the trough. Notes: being -1.3%. In 2002, CSA launched the CSA Absolute Return Fund, a fund of hedge funds A fund of hedge funds is a fund which invests in several different hedge funds to spread the risks. Funds of hedge funds select hedge fund managers and construct portfolios based upon those selections. , which is up 10.5% for the first 11 months of operation and has no leverage on the fund of funds Fund of Funds A mutual fund that invests in other mutual funds. Notes: For example, an investor would select a general risk profile and the fund-of-funds manager would pick underlying investments from a range of products managed by external managers. level. The latest Fund, launched January 1, 2003, is organized as an open-ended investment company incorporated in the Cayman Islands. Its goal is to achieve attractive absolute rates of return while maintaining low volatility and risk, using the same investment strategies as the CSA Absolute Return Fund but adding an option structure which allows for three times leverage. CSA anticipates that the fund should return an average of 25%+ annually. The Fund invests in approximately 20 underlying funds representing 7 strategies. While CSA is the investment manager, VAN serves as a consultant and will assist in sub-fund manager selection and due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. . "We are very pleased to have launched this new Fund January 1 as we believe it will offer non-U.S. investors an opportunity to participate in the superior returns that we have been producing, with modest risk and additional leverage," Charles Schmitt, Managing Director of CSA, stated. "In January 2003, its first full month of operation, it produced a net gain of approximately 5% on investment equity," he added. Ronald Begley, Executive Vice President of VAN, commented: "We are proud to be associated with CSA in this venture. Their record of managing client assets is exceptional." CSA was established in 1992 as a full-service global investment advisory and fund management company and is fully licensed by the Hong Kong Securities and Futures Commission. VAN and its affiliates were established in 1992 and VAN is a leading global hedge fund advisory firm. This is not an offer or solicitation for the sale of any financial product but is provided simply for information. |
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