According to the Globe and Mail, hedge funds managers are supposed to be the smart money;
market mavens whose sky-high fees are justified by their ability to outperform. But guess what? The smart money might not be
so smart, at least when markets are rising.
Figures from the latest TrimTabs/BarclayHedge hedge fund
flow report showed an outflow of $14.2-billion (U.S.) during all of 2012. Separate tracking of the performance of hedge funds by
country of domicile showed that Canadian funds have the dubious distinction of
being the world’s worst last year, with returns of a negative 5.2 per cent.
Chinese and Hong Kong funds had the best performance, up 16.3 per cent...
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