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Top Canada Hedge Fund With 29% Return Bets on Reopening Trade

  • Timelo’s Tardif sees Covid-19 as mostly over by summer
  • Fund manager now focusing on energy, entertainment and travel
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Photographer: ROMEO GACAD/AFP

One of Canada’s top hedge fund managers parlayed the pandemic-fueled turmoil of 2020 into its best performing year in the firm’s history. Timelo Investment Management Inc. sees even more opportunity ahead.

The firm oversees Timelo Strategic Opportunities Fund, a seven-year-old fund whose 29% gain last year outperformed the 5.6% total return of Canada’s benchmark S&P/TSX Composite Index. Timelo took advantage of market volatility in the early days of Covid-19 to invest in companies best positioned to weather the pandemic. Now, says portfolio manager Jean-Francois Tardif, the Toronto-based firm is betting on a post-pandemic revival that others aren’t seeing yet.