Canadian Hedge Funds Fall In 2011

Jan 20 2012 | 11:04am ET

U.S. hedge funds had a tough 2011 and the year was no kinder to their counterparts in the Great White North.

The Scotia Capital Canadian Hedge Fund Performance Index ended the year down 3.8% on an asset-weighted basis and down 9.2% on an equal-weighted basis.

To put that in perspective: It’s the second-worst annual performance since 2005. And the only worse year was the annus horribilis 2008.

On the other hand, the indexes did outperform Canadian equities: the Standard & Poor's/TSX Composite shed 11% in 2011.

Scotia Capital is not holding out much hope for a better 2012: "Managers cautiously anticipate the New Year to bring further uncertainty and challenges to the trading environment."

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