Man Investments Canada Corp. today announced that it raised $37.8 million for CIBC Man AHL Diversified Deposit Notes Series 1.

The deposit notes, Man Canada’s third offering with CIBC, provides Canadian investors with exposure to the AHL Diversified Programme — a systematic global futures trading program. The underlying AHL Diversified Programme has a track record of more than 17 years with an annualized return of 17.6% (net of fees as of May 31, 2008).

“AHL’s managed futures strategies continue to do extremely well during this difficult period for equity markets,” says Toreigh Stuart, CEO of Man Canada. “Investors are searching for diversification, alpha and investments that don’t correlate to their traditional portfolio. This solution is delivering on all three fronts.”

Stuart adds that, since equity markets have been affected by the subprime crisis, the AHL Diversified Programme has returned 20.1% (net of fees from July 1, 2007 to May 31, 2008).

This is the ninth alternative investment solution that Man Canada has introduced since its Toronto office opened in July 2006.

Man Canada is a division of leading global hedge funds provider Man Investments.