Salida Capital Funds Down Big Again

Jan 14 2013 | 2:03am ET

Late last year, Salida Capital was forced to deny that it was on the brink of collapse. After a second straight awful year, the Toronto-based firm may again hear those whispers.

The firm's Strategic Growth Fund lost more than half of its money for the second year in a row. Last year, the fund lost 53.02%, slightly better than the 53.39% loss suffered in 2011, the National Post reports.

By contrast, Salida's Wealth Preservation Fund's performance doesn't look at all bad, although it is hardly preserving clients' wealth. The fund lost 12.23% last year after dropping 14.41% in 2011, and now has the unenviable distinction of having lost money since its inception. Despite Strategic Growth's calamitous two years, it still boasts an annualized return of 2.74% since inception.

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Editor's Note

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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…