GMP Investment Management L.P.

GMP Investment Management L.P.

January 20, 2011 15:14 ET

GMP Investment Management L.P. Announces the Launch of the Canadian ABCP Fund LP

TORONTO, ONTARIO--(Marketwire - Jan. 20, 2011) - GMP Investment Management L.P. ("GMPIM") is pleased to announce the launch of the Canadian ABCP Fund LP ("ABCP Fund").

GMPIM has successfully traded over $2 billion (face value) in Canadian restructured asset backed commercial paper through its GMP Diversified Alpha Master Fund since April of 2008 – a fund that has garnered a 27.39% return since inception*. GMPIM has the unique expertise to invest in the securities from the Master Asset Vehicles ("MAV") that were created from the restructuring of the non-bank sponsored Canadian Asset Backed Commercial Paper ("ABCP") market in 2008 – a highly liquid, $10.5 billion market.

"The objective of the ABCP Fund is to capitalize on the attractive risk/return potential of this unique, diversified, deep-value investment opportunity," said Jason Marks, CEO, CIO & Managing Partner of GMPIM. "At GMPIM, we understand structured credit; we understand the fundamental value of the underlying assets; and our experience in trading these assets allows us to successfully identify the most undervalued assets. We believe in this tremendous opportunity and have invested a significant portion of our personal net worth in the Fund."

The ABCP Fund offers investors another alternative to GMPIM's existing fund offerings for their portfolios that is consistent with a firm-wide philosophy of best-in-class opportunities with an appropriate risk-adjusted return.

"Asset backed commercial paper is poorly understood in the market, which creates an opportunity for GMPIM, with its specific expertise and trading experience," added Greg Foss, the Canadian ABCP Fund's Portfolio Manager. "Investors can take comfort in knowing that the MAVs in which we invest are backed by asset pools that have high credit ratings and multiple levels of protection. The risk profile is much lower than market perception – with a targeted return of 9% per annum, which is high relative to the current return of 7.2% investors can receive through in a high yield bond index, or 4.0% in a corporate (investment grade) bond index." 

To watch Jason Marks' recent appearance on BNN discussing ABCP – or to learn more about GMPIM's Canadian ABCP Fund, please visit our website at


GMP Investment Management L.P. (GMPIM) is a Toronto-based asset management firm that strictly adheres to its proprietary strategies, systems and technologies, which have proven to deliver steady growth and managed volatility – a predictable investment for high-net-worth individuals and institutional clients. While the processes to generate GMPIM's consistent performance are complex, the benefits are simple: preservation of capital, low volatility, and optimal absolute returns over the long term. GMPIM currently manages in excess of $450 million in assets through its flagship fund, the GMP Diversified Alpha Master Fund, as well as the Canadian Asset Backed Commercial Paper Fund, the GMPIM Equity Opportunities Fund and the Genesis Partners Fund LP.

* April 1, 2008 to December 31, 2010. Fund returns are net of fees. Index returns are gross of fees.

Not all investment strategies and products offered by GMP Investment Management are available to non-Canadian investors. Falsely certifying that you are a Canadian or Exempt Investor may result in GMP Investment Management being unable to provide services to you and/or you may be subject to legal or regulatory consequences.

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