The Inflection Strategic Opportunities Fund delivered a net return of 2.99 per cent in the first quarter of 2013, outperforming the TSX S&P Index which increased by 2.55 per cent.
“Inflection had a strong start to 2013 due to the deep value opportunities that it pursues worldwide,” says Ari Shiff, founder and head of fund research. “Taken collectively, our managers did well by paying close attention to the assets they invest in and by deploying hedging techniques to help manage risk.”
The fund’s most relevant benchmark, the HFN Fund of Funds Multi Strategy Index, also had a strong first quarter of 2013 with a return of 3.51 per cent. However, over the year ended 31 March 2013, the HFN Index is up only 5.25 per cent, compared with a gain of 13.09 per cent for Inflection.
Another relevant benchmark, the Scotiabank Canadian Hedge Fund Index, was up 1.97 per cent for the first quarter of 2013, compared with the gain of 2.99 per cent for Inflection.