Live From the Desk

Guardian Capital

We’d like to thank our friend, Dr. Ryan Males, from CIBC Capital Markets for the following note on Guardian Capital. As one of the Vertex Fund and Vertex Growth Fund‘s largest holdings, we thought it was worth sharing with you. I have an affinity for one particular small-cap company – Guardian Capital (GCG/A CN).  When …

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A Closer Look: Vertex Arbitrage Fund

The Vertex Arbitrage Fund (F) returned 2.50% in the first quarter, its best quarterly performance since inception. W ith recent market volatility at unsettling levels, we thought it was a good time to showcase two positions in the portfolio and how they helped achieve our objective for positive returns, independent of the market. Corus Entertainment …

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Deck the Halls with Spreads Aplenty

Vertex Arbitrage Fund There is currently over one trillion US dollars of announced and contractually binding merger activity in North America and Western Europe (measured by target market capitalization). We are now in an environment that we haven’t seen since the late 90s (a good period for arbitrage); there are simply too many merger situations …

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Arb Fund turns 1!

Happy Anniversary! The Vertex Arbitrage Fund had its 1st birthday on October 31st! The first year return was 4.00% (Class F), in line with our expected range of short-term rates plus 4-5%, albeit at the lower end of the range. The monthly returns for the first year were as follows: Jan Feb Mar Apr May Jun Jul Aug Sep Oct …

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VXFD & VGF – the lowdown

Wherefore art thou QE? Much like a long-term relationship you wanted to end – and now miss, once it’s over – quantitative easing is done. Fear not, though, life will go on… So, what to do in a market without stimulus? In the Vertex Fund and Vertex Growth Fund we’ve been adding equities in Europe …

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