Wednesday, 25 May 2016
Last updated 12 min ago
Feb 13 2013 | 12:06pm ET
Canada punches above its weight internationally in a lot of areas. Last year, hedge funds were not among them.
Canadian hedge funds were, on average, the worst in the world in 2012, TrimTabs Investment Research and BarclayHedge report. The average return was a 5.2% loss, while the average hedge fund globally rose 8.5%. The loss came even as Canadian stocks rallied, if not quite as spectacularly as U.S. stocks, with the S&P/TSX Composite Index rising 7.2% last year.
The world's best hedge funds resided on the other side of the world from Toronto: Chinese- and Hong Kong-based funds returned an average of 16.3% last year.