GMP Investment Management L.P.

GMP Investment Management L.P.

March 16, 2011 13:05 ET

GMP Investment Management L.P. Has Traded Over $2.5 Billion of Restructured Canadian ABCP

TORONTO, ONTARIO--(Marketwire - March 16, 2011) - GMP Investment Management L.P. ("GMPIM") announces today that it has traded over $2.5 billion of restructured Canadian Asset Back Commercial Paper ("ABCP").

GMPIM first invested in restructured ABCP in 2008 in its flagship GMP Diversified Alpha Master Fund, Ltd. On November 5th, 2010 GMPIM launched the Canadian ABCP Fund L.P. (the "ABCP Fund") to exclusively invest in this asset. To date, GMPIM has raised over $100 million in the ABCP Fund and related investment vehicles dedicated solely to ABCP. Performance in the ABCP Fund has been strong, with a return in excess of 16.43%*, and the fund continues to garner investor interest in this unique asset class.

"We are extremely pleased with the performance of the ABCP strategy," said Jason Marks, CEO and Managing Partner of GMPIM. "It's our depth and breadth of expertise in structured credit that allows us to understand the value of the underlying assets – and also successfully identify those trading at a significant discount to fair value."

The ABCP Fund invests in securities from the Master Asset Vehicles ("MAV") that were created after the restructuring of the non-bank-sponsored Canadian Asset Backed Commercial Paper market in 2008.

"Investors from the United States are active buyers of the MAV through several U.S. credit funds. That behaviour is consistent with our analysis and, despite recent price appreciation, MAV continues to be one of the best risk-adjusted return opportunities in the North American credit markets," added Greg Foss, Portfolio Manager, GMPIM. "Here at home, investors can access this opportunity through the ABCP Fund – the only Canadian fund investing exclusively in restructured ABCP."

The ABCP Fund offers investors another alternative to GMPIM's existing fund offerings, and adheres to GMPIM's overall investment goals, which are to preserve investors' capital, manage volatility and provide attractive returns.

Performance Details:
Canadian ABCP Fund LP*
Month-to-Date – February 28, 2011: 4.56%
Year-to-Date – February 28, 2011: 11.38%
Inception to February 28, 2011: 16.43%
Canadian ABCP Investment Fund**
Month-to-Date – February 28, 2011: 4.43%
Year-to-Date – February 28, 2011: 10.99%
Inception to February 28, 2011: 13.24%

For complete pricing of the MAV strip and tracking notes, as well as to learn more about GMPIM's Canadian ABCP Fund L.P., visit


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 manage 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 $500 million in assets primarily composed of its flagship fund, the GMP Diversified Alpha Master Fund, as well as the Canadian ABCP Fund L.P., the GMPIM Equity Opportunities Master Fund L.P. and the Genesis Partners Fund L.P.

* November 5, 2010 through February 28, 2011 performance of the Canadian ABCP Fund L.P. (GIM 211B), net of fees and expenses.

** November 5, 2010 through February 28, 2011 performance of the Canadian ABCP Investment Fund [GIM 300], net of fees and expenses.

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. Past performance may not be repeated. An investment in the Fund is not intended as a complete investment program and should only be made after consultation with independent investment and tax advisors.

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