Financial Post - Monday, March 10th, 2008
Given the meltdown all markets have experienced over the past nine weeks, the year (which) ended Dec. 31, 2007, seems like a lifetime away. But for those who manage money on a professional basis, the annual performance numbers bring some accolades and a warm smile to their clients.
API Asset Performance, a pension fund consulting firm, has compiled the 2007 top performers among the 653 funds in its pooled database:
Balanced Funds - The fund run by MFC Global returned 11.78% last year. MFC Global’s fund was the top performer over three years (average compound gain of 14.63%) and second-best over five years with a 14.90% gain.
Canadian Equities - Montrusco Bolton’s TSE 100 Momentum Fund was the best performer with a return of 30.98% –or more than three times the 9.77% index return. Montrusco Bolton was also the winner over three years (31.65% versus the index’s 16.95%); and five years (34.36% versus 18.32% for the index.)
U.S. Equities - The U.S. equity fund managed by Goodman & Goodman was the top performer over one year (32.67%,more than four times the funds managed by second-place Marvin & Palmer), three years (18.23%); and five years (17.13%). Hillsdale Investment Management was second-best performer over both three and five years.
Global Equities - Goodman & Goodman was also the top performer for global equities. It collected a triple award with the best performance over one year (47.94%), three years (25.64%) and five years (23.79%).