British Virgin Islands-based investment manager Bluenose Capital Management is on schedule to launch the onshore version of its flagship offshore fund on 1 March.

The Delaware-domiciled fund is aimed at US accredited and qualified investors.

The objective is to generate an annualized compound rate of return of 15 per cent with lower downside volatility versus the S&P500 and TSX benchmarks.

Using proprietary multi-factor models, the fund will engage in short-term market neutral trading in Canadian and US liquid exchange-listed securities. The fund has a capacity of USD700m at the trading level.

Bluenose's JS Pelletier and Dario Borelli will be at the helm of the onshore fund. The administrator is Folio Administrators.

The minimum subscription is USD250,000 and the management fee is one per cent.