iPerformance Fund Corp. has launched the iPerform American Focus Fund, its newest hedge fund targeted towards high net worth investors.

Designed to be a top quartile performer, the fund combines long and short S&P 500 stock selection with the use of leverage to attempt to achieve superior returns with lower risk in any market environment.

“The iPerform American Focus Hedge Fund recognizes investor demand for an equity fund that offers the potential for steady, less volatile returns whether markets are falling or rising” said Toreigh Stuart, president & CEO of iPerform. “Considering the current market environment, we believe it is an ideal time to be launching a truly active and opportunistic S&P 500 fund, using long and short strategies, for Canadian investors.”

With the addition of the American Focus Fund, iPerform has launched five long/short equity hedge funds since January 2001. The company says its mandate is to become the pre-eminent Canadian hedge fund distributor.

“Our pursuit of institutional-class talent has generated a superstar manager lineup that includes Marc Gabelli, Veronika Hirsch and Kevin Landis,” adds Stuart. “With the debut of the iPerform American Focus Fund, we now add James Abate to our prestigious team.”

Stuart is confident Abate will compliment iPerform’s team of marquee managers. Abate is currently the Investment Director at Global Asset Management USA Inc., one of the world’s leading alternative investment firms with over US$5 billion in hedge fund assets under management

Prior to joining Global Asset management, Abate served as Managing Director and Portfolio Manager for Credit Suisse Asset Management’s US Select Equity portfolios. He was Portfolio Manager of the UK-distributed Credit Suisse Transatlantic Fund, the European-distributed Credit Suisse USA Equity Fund, the US-distributed CS Warburg Pincus Focus Fund, and was sub-advisor to a number of C.I. Funds.

The iPerform American Focus Fund gives me the unique opportunity to bring together a very effective and experienced team that will employ a research-intensive and economic profit-based approach, the objective of which is consistently superior returns with lower risk than the S&P 500 benchmark,” said Abate.

With a focus on economic profit, Mr. Abate’s approach to stock selection and portfolio construction is unique compared to other managers. “If you fail to look beyond the traditional measures” adds Abate, “you will fail to capture the vital linkage to core valuation fundamentals.”

iPerform is a subsidiary of Toronto-based Integrated Asset Management, an alternative asset class manager with over $800 million in assets under management.