Canadian Hedge Funds Lag March Market Rally

Canadian hedge fund fared no better than their American counterparts last month, badly trailing the market rally.

The Scotia Canadian Hedge Fund Performance Index rose 1.78% last month. On an equal-weighted basis, the return was a good deal lower, at 1.33%. Globally, hedge funds returned between 2% and 3%, on average.

Unfortunately for Canada’s hedge funds, Canadian stocks did even better in March, with the TSX index adding 3.51%. The Standard & Poor’s 500 Index rose 5.88% last month.