Is Portus Canada's maple leaf snag for its hedge fund industry?

canada

While the scandal at Canada's Portus Alternative Asset Management was more a compliance issue of alleged mis-selling than a fund melt-down, experts say it will still have the effect of keeping the minimum investment requirements for Canadian authorised hedge funds high.

The assets of the fund have been seized by the Ontario Securities Commission, KPMG has been named receiver, and one of the firm's managers, Boaz Manor, has left the country for Israel.

Bloomberg reported the fund had C$662m in

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