The Cayman-domiciled Leeward Offshore Bull & Bear Fund, offered by Toronto-based Leeward Hedge Funds Inc announced recently that as of May 31 2003, the fund has returned +16.9% net of fees to its investors, compared to the S& P 500 which was –11.7% for the same 1 year period.
Celebrating its first anniversary, the fund- which primarily focuses on North American small- and mid-cap securities, with an eye to combining and hedging the strengths of the Canadian hard asset and commodity driven markets with the industrial strength and technological capacity of the US markets- announced that it has grown to around $33m.
Leeward has announced that it will close the Offshore Bull & Bear fund, which has a minimum investment level of $100,000, when it reaches $300 million under management.
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