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Canadian Hedge Funds Fall In April

Date: Tuesday, May 26, 2009
Author: FINalternatives.com

Canadian hedge funds managed to miss out on both the equities rally and global hedge fund bounce in April, according to Scotia Capital.

The Scotia Capital Hedge Fund Performance Index’s asset-weighted benchmark actually fell 0.61% last month, while most hedge fund indices from around the world enjoyed returns in excess of 3% and Canadian stocks rose 6.93%, according to the S&P TSX Composite Index. The asset-weighted index is up 4.98% year-to-date.

Things look slightly better from an equal-weighted perspective, with the SC Index Equal Weighted index adding 1.59% in April to end the first four months of the year up 6.32%.