Canadian Hedge Fund Up 80% This Year

Aug 14 2008 | 10:41am ET

Sextant Capital Management is enjoying a boffo year—possibly the best of any hedge fund firm in Canada.

The Toronto firm’s Sextant Strategies Opportunities-A fund is the best-performing hedge fund in Canada this year, according to the Globe and Mail. The fund has returned 80.4% this year, thanks almost entirely to an incredible 73.5% return last month.

“We had a few calls from people who wanted to make sure the number was right,” Sextant’s Otto Spork told the newspaper. “And it is.”

Spork said shorts on a variety of commodities, including oil, gold and silver, helped power July’s eye-popping gains. Sextant is also shorting the euro, but has since cut back on or eliminated all of those shorts.

“We are still very bullish on the commodities,” he told the paper.


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