AlphaNorth Asset Management

What AlphaNorth Asset Management does

AlphaNorth Asset Management is a Toronto-based investment management firm founded in 2007 by Steve Palmer (President & CIO) and Joey Javier (Managing Partner). The firm manages the AlphaNorth Partners Fund, a long-biased, small-cap focused hedge fund, and has historically run ancillary Growth and Resource mandates that were both terminated in October 2019. The investment process combines fundamental analysis with technical analysis to identify Canadian small-capitalization opportunities, a niche in which the firm has collected multiple Canadian Hedge Fund Awards and a 2011 HFM Week nomination in the sub-$250M AUM category.

The firm's commercial model is a fee-based asset management business with high-net-worth and family-office distribution through Canadian brokerage intermediaries. The flagship Partners Fund is offered in two share classes: Class A at a 2% management fee and Class D at 2.5% (of which 1% is rebated to the introducing brokerage), each with a 20% performance fee and a $150,000 minimum investment. Approximately 50% of fund assets are held by principals, creating strong alignment with outside investors but also concentrating key-person risk in a two-investor team. The firm is closed to US residents, a regulatory constraint that caps the addressable investor base to Canadian residents and non-US persons.

Performance disclosure cites a 127.0% cumulative return since the fund's inception and a -14% drawdown over the trailing five years as of June 30, 2026. Without disclosed AUM, headcount, or recent flows, the firm appears to operate as a lean manager in the sub-$250M niche, relying on Palmer's 35.8% annualized long-term track record and Canadian dealer distribution rather than scale, technology, or product breadth as competitive levers.

Name

AlphaNorth Asset Management

Legal name

AlphaNorth Asset Management

Website

https://alphanorthasset.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

1–10 employees

Short description

AlphaNorth Asset Management is a Toronto-based investment manager founded in 2007 that runs the long-biased Canadian small-cap AlphaNorth Partners Fund, combining fundamental and technical analysis, distributed to HNW investors through Canadian brokerages via Class A and Class D shares.

Ownership category

akta.pro rank

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Management Fees: 2% annual management fee on assets under management; Class A shares have 2% fee, Class D shares have 2.5% fee (with 1% paid to brokerage)
2. Performance Fees: 20% performance fee charged only when investors make money (no performance fee unless positive returns). High-water mark does not reset.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

AlphaNorth Asset Management operates the AlphaNorth Partners Fund, a long-biased small-cap focused hedge fund that invests in Canadian micro/small-cap equities using proprietary technical analysis combined with bottom-up and top-down fundamental analysis. The fund is offered in two share classes (Class A for direct subscribers and Class D for brokerage accounts) and targets sectors including Environmental Sustainability, Resource, Technology, Lifestyle, and Healthcare. The firm earns revenue through annual management fees and performance fees on assets under management.

Product overview

AlphaNorth Asset Management is a Toronto-based investment manager founded in 2007 that manages the AlphaNorth Partners Fund, a long-biased small-cap focused hedge fund. The fund is offered in two share classes: Class A shares for direct subscribers and Class D shares for brokerage accounts. The firm's investment strategy combines technical analysis with bottom-up and top-down approaches to identify investment opportunities in Canadian micro/small-cap equities, targeting sectors including Environmental Sustainability, Resource, Technology, Lifestyle, and Healthcare.

Differentiator

Problem solved

Functional benefit

Products and services

• AlphaNorth Partners Fund - Class A Shares Direct subscription share class of the AlphaNorth Partners Fund that provides diversified exposure to micro/small-cap Canadian equities through a long-biased hedge fund strategy. Available for direct subscription with a 2% annual management fee and no service fee. FundSERV code: AAM100. Targeted at high net worth individuals and institutional investors meeting Canadian accredited investor criteria, with a minimum investment of $150,000 and subsequent investments of $10,000.
• AlphaNorth Partners Fund - Class D Shares Brokerage-channel share class of the AlphaNorth Partners Fund designed for investors accessing the fund through Canadian securities dealers and brokerage accounts. Charges a 2.5% management fee (including 1% service fee paid to the brokerage). Includes early redemption fees of 3% in the first year and 1.5% in the second year. FundSERV code: AAM200. Targeted at investors working with investment advisors at Canadian brokerage firms.

Named customers3 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered supporting and core.

• Harmonic CanadasupportingOthersProvides administrative services to the AlphaNorth Partners Fund including fund administration and back-office operations
• NBCN Inc.coreOthersActs as prime broker and custodian of the Fund's assets, providing execution and custody services
• KPMG LLPsupportingOthersAuditor of the Fund based in Toronto, Ontario, providing annual audit services

Scale indicators6 records

Recent moves9 records

Expansion highlights3 records

Broad incumbents

• CI Financial: One of Canada's largest independent asset and wealth management firms, offering multiple active equity, fixed income, and alternative strategies. Comparable to AlphaNorth as a Canadian-domiciled active manager serving HNW and institutional clients, though at much greater scale and breadth.
• Fiera Capital: Large Canadian asset manager offering diversified strategies including small-cap equity, fixed income, and alternatives to institutional and retail clients. Comparable to AlphaNorth as a Canadian asset manager with small-cap equity capabilities, though broader in scale and product set.

Direct peers

• Sprott Asset Management: Well-known Canadian alternative asset manager with small-cap and resource-focused strategies serving HNW and institutional clients. Highly comparable to AlphaNorth as a Canadian-domiciled, alternative-heavy boutique manager targeting inefficient equity segments.
• Hillsdale Investment Management: Canadian boutique equity manager offering fundamental small-cap and mid-cap strategies to institutional and HNW clients. Comparable to AlphaNorth in boutique structure, Canadian small-cap focus, and active fundamental investing style.
• Polar Asset Management Partners: Toronto-based long-biased equity manager focused on North American small and mid-cap opportunities. Directly comparable to AlphaNorth given its Canadian domicile, long-biased equity mandate, and small-cap orientation.
• Bloom Investment Counsel: Canadian investment manager specializing in small and mid-cap equities with a concentrated, fundamental approach. Directly comparable to AlphaNorth's small-cap, concentrated, fundamental-plus-technical investment philosophy.
• Qwest Investment Fund Management: Canadian fund manager focused on small-cap and resource equities, serving retail and HNW investors through dealer channels. Comparable to AlphaNorth in mandate focus, target investor segment, and Canadian distribution approach.
• PenderFund Capital Management: Canadian boutique investment manager with a small-cap equity value focus serving accredited investors and advisors. Directly comparable to AlphaNorth in terms of boutique structure, Canadian small-cap focus, and HNW distribution model.
• Portland Investment Counsel: Canadian alternative investment manager offering hedge fund and private equity-style products to HNW clients. Comparable to AlphaNorth as a Toronto-based boutique providing alternative strategies through Canadian dealer networks.
• Caldwell Investment Management: Canadian investment counsel firm providing discretionary portfolio management to HNW individuals and families. Comparable to AlphaNorth in client segmentation (accredited/HNW), Toronto domicile, and active equity management approach.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xtwitter.com/AlphaNorthAsset
• YouTubeyoutube.com/channel/UCiKxiicFTM2mIXL6seoAKYA
• Facebookfacebook.com/AlphaNorthAsset
• LinkedInlinkedin.com/company/alphanorth-asset-management

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments7 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AlphaNorth Asset Management