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Waratah Capital hedge fund posts first ever annual loss

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Canadian hedge fund firm Waratah Capital Advisors managed to generate positive returns on most of its products in 2022, including its flagship equity funds, despite its biggest hedge fund posting its first ever annual loss, according to a report by Bloomberg.

The report cites an investor letter as revealing that the Waratah Performance fund, which employs a long-short strategy focussed on North American stocks and has returned 220% since inception, finished the year with a 1 per cent loss, its first negative return since launching in 2010. 

Waratah One and Waratah One X, the Toronto-based firm’s two flagship funds meanwhile, gained 3 per cent  and 4.2 per cent, respectively. The former, which has $336 million invested in a long-short portfolio of US stocks, now boasts a 13-yera record of positive annual returns. 

Waratah’s newest fund, a long-short yield fund that focuses on North American bonds, gained 2.3 per cent over its first four months. 

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