Vantage Asset Management, a Toronto startup that launched a long/short relative value and M&A arbitrage fund on March 1, has hit the ground running with launch assets of C$40 million ($38.9 million)—thought to make it one of the biggest hedge fund launches in Canada over the past couple of years. An established Canadian fund manager and a prime brokerage official both said the average Canadian launch was around C$10 million. Vantage has adopted an innovative fee-sharing incentive program for founding investors, which is likely to have boosted day-one assets.While many Canadian managers begin with a domestic launch and roll out an offshore version at a later date, Vantage...
