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From Precy Dumlao, Opalesque Asia
Canada’s AlphaNorth Partners Fund ended 2009 with a stellar performance after it gained 160.6%. But what made this achievement more significant is that the fund is not a resource fund like many of the other big winners in Canada. For December, the fund returned 3.7% compared to 2.9% and 7.5% for the TSX Composite and TSX Venture respectively. Since inception in December 2007, the fund returned 30.6%.
Steven Palmer, AlphaNorth Partners’ president and CEO said, “If we take the view that markets will continue to be relatively stable with an upward bias as the world economy continues to improve, one should expect further significant gains in small caps on a percentage basis. The small cap strategy we have employed, which has generated exceptional returns despite two market meltdowns, is suited extremely well to this environment. Historically, our small cap investment strategy has performed extremely well in flat to upward markets due to the long biased strategy under this scenario.”
There is no available data on the fund’s assets under management.
AlphaNorth’s 2009 performance was a complete turnaround from its dismal showing in 2008 when it returned -53.3%.
When AlphaNorth closed September ’09 with a 19.1% gain (bringing the YTD return to 138.7%), Palmer said that the fund had already recouped all its 2008 losses.
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