Wednesday, 22 October 2014
Last updated 39 min ago
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."
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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