Canada's so-called alternative investment strategy industry says the sector is growing and the instruments themselves have received a bum rap regarding their risk.

A Wall Street hedge fund pitched Bay Street investors Monday in an effort to get fellow CP Railway shareholders on board with a plan to turn the company around.

Hedge fund Pershing Square, which is making a push for the replacement of Canadian Pacific Railway Ltd.'s chief executive, has added another railway veteran to a slate of potential board members it will be nominating at the company's annual meeting next month.