Managers
The selection process identifies managers who are interested in entering the institutional market, who have a disciplined approach to investing, and who need capital to build an investment track record, mentoring, or an operational boost.
Emerging managers
Traditional program – Fixed income strategy
Fund name
LAM Canadian Bond Fund L.P.
Program
Traditional
Strategy
Fixed income
Geographic focus
Canada
Objective
The investment objective of the Fund is to generate an attractive return for a core Canadian bond strategy, while preserving capital.
Approach
The strategy is a top-down macroeconomic approach to identify the most attractive sectors, types of securities and maturities, as well as a bottom-up fundamental valued-based approach to identify attractive issuers. The creditworthiness of issuers is assessed using a combination of fundamental indicators and industry analysis. The Fund seeks securities with improving or solid credit outlooks and metrics.
Fund name
Nymbus Quant Canadian Fixed Income Fund L.P.
Program
Traditional
Strategy
Fixed income
Geographic focus
Canada
Objective
The investment objective of the Fund is to generate an attractive return for a core Canadian bond strategy.
Approach
To achieve its investment objective, the Fund uses a quantitative approach to select instruments with desirable characteristics for the portfolio. The Fund invests only in financial products traded in Canada and the United States, although in some cases the instruments comprising these financial products will originate outside Canada and the United States.
Traditional program – Canadian equity strategy
Fund name
BeeQuest Canadian Equity ESG Fund L.P.
Program
Traditional
Strategy
Equity
Geographic focus
Canada
Objective
BeeQuest Canadian equity strategy uses a bottom-up approach to select stocks that aim to outperform the main Canadian equity indices over the long term with a moderate tracking error. By incorporating various criteria and risk metrics, the objective is to construct an institutional-grade portfolio that exhibits a strong sustainable bias, is composed of high-quality assets and demonstrates superior market resilience.
Approach
Our investment philosophy is based on two key principles: to offer best-in-class, high-quality investment portfolios to all clients, and to do so in a responsible and sustainable manner. Our approach is to understand our clients’ financial needs and core values, design an optimal and diversified portfolio to attain their financial objectives and align each client’s portfolio based on one’s own priorities and values.
Fund name
LionGuard Canadian Small Cap Equities Fund L.P.
Program
Traditional
Strategy
Small capitalization equity
Geographic focus
Canada
Objective
The Fund investment objective fund is to achieve long-term growth of capital through disciplined investing in Canadian small capitalization equities.
Approach
The Fund shall be managed using fundamental bottom-up stock selection approach with strong emphasis on high quality companies with proven business models and strong management teams. In order to achieve the Fund’s objective, the manager will employ a long only equity strategy with a focus on small capitalization companies listed on Canadian stock exchanges.
Traditional program – Global equity strategy
Fund name
Borealis Global ESG MidCap Equity Fund L.P.
Program
Traditional
Strategy
Global MidCap equity
Geographic focus
Global
Objective
The objective of the fund is to deliver a financial performance superior to its benchmark as well as an improvement over time in its extra-financial performance.
Approach
Borealis strategy uses a fundamental approach, including ESG factors and non-financial factors, to construct a portfolio of global mid-cap equities. The portfolio is concentrated and could exhibit higher short-term volatility.
Fund name
Clear Skies iWorld Equity Fund L.P.
Program
Traditional
Strategy
Global equity
Geographic focus
Global
Objective
The objective of the fund is to deploy its capital in global ESG and impact leaders, i.e. companies that contribute positively to the planet and society. The fund also aims to produce competitive and stable returns over a long-term horizon.
Approach
The strategy aims to select companies with the best financial potential among those with business models which create positive impact towards achieving the United Nations Sustainable Development Goals (SDGs). On the fundamental side, the firm looks for companies that have good growth and competitive advantages, a quality management team, a solid balance sheet and a reasonable valuation.
Fund name
Evovest Global Equity Fund II L.P.
Program
Traditional
Strategy
Global equity
Geographic focus
Global
Objective
The Fund’s objective aims to create superior returns when compared to a passive portfolio of the world’s largest market capitalizations over a complete market cycle.
Approach
The underlying strategy relies on the automation and enhancement of the fundamental investment process of a portfolio manager using artificial intelligence (AI).
Fund name
Mount Murray Investment Emerging Markets Equity Fund L.P.
Program
Traditional
Strategy
Global equity
Geographic focus
Emerging Markets
Objective
The fund’s aim is to achieve long-term capital appreciation through diversified investments in emerging markets.
Approach
The strategy combines a bottom-up fundamental research analysis of stocks with high growth potential with a structured macroeconomic analysis.
Fund name
Tonus U.S. Small Cap Equities Fund L.P.
Program
Traditional
Strategy
U.S. Small Cap Equities
Geographic focus
North America
Objective
The investment objective of the Fund is to earn superior returns over U.S. small caps benchmarks over 3 years horizon, through a concentrated portfolio of equities with a market capitalization below US$5 billion.
Approach
Tonus employs an active management approach based on the search for value in North American small cap securities. Relying on independence and in-depth knowledge of its investments, Tonus conducts its own analyses and financial modelling to identify equities trading below their intrinsic value.
Alternative program – Hedge fund strategies
Fund name
ELS BMP Fund L.P.
Program
Alternative
Strategy
Equity Long Short
Geographic focus
Mainly North America
Objective
The investment objective of the Fund is to achieve a better risk adjusted return compared to major North American stock market indices through a full market cycle.
Approach
To achieve this objective, BAM employs a fundamental bottom-up investment process predominantly investing in carefully researched small to medium market capitalization U.S. and Canadian listed securities. The investment strategy of the Fund is very opportunistic allowing the manager to either be positioned net long, net short or holding a high cash balance.
Fund name
Evovest Global Market Neutral Fund L.P.
Program
Alternative
Strategy
Market Neutral
Geographic focus
Global
Objective
The fund is an equity long/short with low net exposure to the equity market. The investment process is systematic and uses machine learning for stock selection and portfolio construction. The objective of the strategy is to generate a positive return decorrelated from the stock markets.
Volatility target for the strategy will be between 10% and 14%.
Approach
The underlying strategy relies on the automation and enhancement of the fundamental investment process of a portfolio manager using artificial intelligence (AI).
Fund name
LionGuard Conservative Fund L.P.
Program
Alternative
Strategy
Equity Long/Short
Geographic focus
North American
Objective
The Fund will seek to achieve long-term growth of capital through disciplined investing in mainly small and medium capitalization North American equities. The Fund invests on a long/short basis and intends to achieve positive absolute returns. The Fund’s investments are based on detailed fundamental research and analysis that focuses on identification of market inefficiencies in the Investment Universe.
Approach
The Fund will aim to generate alpha from uncorrelated sources through a fundamental bottom-up analysis. The sources include, but are not limited to, core holdings (long positions), market inefficiency opportunities (long positions), overpriced securities (short positions) and sale and purchase of mispriced options positions.
Fund name
Nordis ESG Absolute Return Fund L.P.
Program
Alternative
Strategy
ESG Global Equity L/S
Geographic focus
Global
Objective
The strategy will be an equity long short strategy which invests in global ESG megatrends. While primarily concentrated in equity instruments, this strategy could also opportunistically allocate investments into fixed income and commodity instruments. The strategy will target positive beta to global equities over a full market cycle, a volatility of 12% and aims for a return of 700 basis points above Treasury Bills.
Approach
The “top down” investment process identifies investment opportunities in promising ESG themes. The strategy will also take short positions in securities that are likely to lose ground as investors increasingly adopt sustainable investment practices and values. By investing in this Fund, asset owners who believe that ESG issues will be increasingly material over the coming years will be able to optimize the risk/return profile of their overall portfolio.
Fund name
WATT Transactional Fund L.P.
Program
Alternative
Strategy
Electricity trading
Geographic focus
Mainly North America
Objective
The fund aims to generate uncorrelated absolute returns for investors.
Approach
Plant-E employs a mix of discretionary and quantitative strategies to take advantage of inefficiencies in North American power markets. Positions are mostly taken in geographical and time spreads.
Fund name
Converium PGEQ Multi-strategy Fund L.P
Program
Alternative
Strategy
Multi-strategy opportunistic
Geographic focus
Global
Objective
The objective of Converium’s multi-strategy fund is to generate positive and uncorrelated returns to traditional assets, regardless of macroeconomic conditions, by investing in distressed and event-driven opportunities.
Approach
Converium’s investment philosophy is based on the belief that the best opportunities come in times of abrupt change or distress. The strategy combines quantitative and qualitative methods to screen opportunities and invests in distressed and event-driven opportunities globally and across the capital structure.
Graduates of the QEMP
To submit your application
Ongoing Manager Search Program
The QEMP’s mandate is to promote the growth of financial entrepreneurship in Quebec by offering institutional investors two investment classes, one traditional and the other alternative, managed by emerging Quebec managers. In order to better achieve its mission, the PGEQ has opened its ongoing manager search program, in order to better comprehend Quebec managers, to offer support and mentoring to managers who wish to do so and to identify the next generation of managers.
Interested firms must complete the eligibility questionnaire below in order to submit their application.
For more information about the detailed process, please contact us.
The questionnaire should be sent by email to the following address:
Isabel Trepanier
Principal, Program management
isabel.trepanier@innocap.com
Request for proposal
In order to plan the deployment of additional funds and an orderly graduation process, the QEMP is looking for Québec-based independent emerging managers offering
traditional strategies: fixed income, Canadian equity, US equity, global equity, sustainable or ESG strategies, etc.) and alternative strategies (hedge funds, sustainable or ESG strategies and real asset funds, etc.).
Proposal that include diversity, equity and inclusion factors are encouraged.