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Canada’s Salida In Big Turnaround, Funds Up More Than 80%
June 5, 2009
This year, it seems the best predictor of great performance is terrible performance last year.
So it is with Toronto’s Salida Capital. The firm, which was forced to shutter its flagship and two other hedge funds last year in the wake of the Lehman Brothers collapse, is back in business in a big way. The firm’s new Strategic Growth Fund, which launched in March, is up 82.62% in its first six months of trading, Hedge Funds Review reports. The fund, which employs a strategy similar to Salida’s former flagship, Global Opportunity Fund, added 22.49% in May.
What’s more, Strategic Growth is only Salida’s second-best performing fund this year. Its Global Energy Fund is up 91.44%.
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