Montréal, Québec, December 1^st, 2021
The Quebec Emerging Manager Program (“QEMP”) is proud to announce the selection of Nordis Capital to manage an alternative ESG global mandate.

Founded in 2021, Nordis Capital (“Nordis”) specializes in investment solutions that combine sustainability and financial performance. Based on the pioneering ESG research produced by its sister firm Sustainable Market Strategies, Nordis offers the opportunity to invest in global ESG megatrends while positioning itself against companies, sectors and commodities that may be negatively impacted by risks in this area.

The Nordis ESG Absolute Return Fund L.P. will be launched with an allocation of about CAN$35 million. The equity long short strategy will invest in global ESG megatrends. While primarily concentrated in equity instruments, this strategy could also allocate opportunistically within 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.

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.

The investment team at Nordis has a solid experience and complementary expertise in investment management, macroeconomic research, public policy, and sustainability. Its cognitive diversity allows it to address investment issues in a way that is unique in the market. Building on its sustainable investing skill set, Nordis draws on global best practices to deliver forward-looking investment strategies to its clients.

“We are pleased to have been selected for an alternative ESG global management mandate by the QEMP. We look forward to building on this success to offer our strategies to other leading investors here and around the world. We are convinced that sustainable investing is still in its early innings and will transform markets ensuring that the financial sector is a positive force for the future. We are excited to contribute to solidifying Montréal’s role in the global sustainable finance ecosystem.”

– François Boutin-Dufresne, Managing Partner, Nordis Capital

“It is wonderful for us to see highly talented people launch a business in asset management, particularly in a field of the future such as responsible investing. Nordis Capital is a prime example of an asset management firm that has sustainability and impact in its DNA while generating a return for investors. Once again, the PGEQ is demonstrating that Québec is full of talent that must be supported and guided, which is what this unique program allows.”

– Jacques Deforges, Chief Executive Officer, Finance Montréal

“The QEMP is delighted to welcome Nordis Capital to its ranks with our first ESG strategy, managed by a highly qualified team. Responsible investing is part of the mission, values and practices of the QEMP and our institutional investors. This strategy fits perfectly with our objectives of encouraging entrepreneurship and the launch of innovative strategies. We are pleased that new firms are launching in Montréal and to see a growing interest in ESG and alternative investment.”

– Carolyn Cartier-Hawrish, Manager, QEMP

The new Nordis fund will replace the Landry Global Equity L/S Fund L.P., included in the PGEQ Fund L.P. since 2016. Nymbus Capital (“Nymbus”), which specializes in systematic fixed income and alternative investments, acquired equities manager Landry Investment Management in November 2020. Nymbus recently launched a multi-strategy quantitative fund in which the firm will combine its best alternative strategies in an overlay for additional capital efficiency. The fund has already raised approximately CAN$20 million in new assets in the first month after its launch. Nymbus will continue to manage the QEMP’s traditional mandates with the Nymbus Quant Canadian Fixed Income Fund L.P. and the Landry Global Equity II Fund L.P.

The PGEQ Fund L.P. has CAN$400 million of assets under management as of October 31st, 2021. Earlier this year, the QEMP announced a strategic investment totalling CAN$110 million to propel the development of Québec emerging managers and to support the local asset management ecosystem. This impact investment stemmed from the Government of Québec as well as additional contributions from three initial investors supporting the QEMP since 2016. The program accelerated its impact by adding five new managers in the past few months.

The QEMP, which recently marked its 5-year anniversary, is well positioned to continue raising capital. In order to plan the deployment of additional funds and an orderly graduation process, the QEMP is still 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.).