Canadian Hedge Funds Edge Up In April

May 21 2010 | 9:19am ET

Canadian hedge funds returned about 1% last month, more or less on pace with their peers to the south of the border and around the world.

The Scotia Canadian Hedge Fund Performance Index rose 1.02% in April and is up 4.37% on the year.

“In line with global peers, Canadian hedge fund managers made modest aggregate gains in April, and continue to maintain a cautious stance in light of uncertainty over the direction of capital markets,” Scotia Capital said.

Globally, hedge funds returned between 1% and 1.5%, according to several major hedge fund indices. By contrast, the Standard & Poor’s 500 Index rose 1.57% on the month, and is up 7.05% on the year, while the S&P TSX Composite, which tracks Canadian stocks, rose 1.44% in April and is up 3.96% on the year.

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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…