Looking at oil and gas stocks this year? Think small and Canadian, at least according to the world’s leading energy fund manager.
“Canada is, I think, the place to be in 2022,” said Eric Nuttall of Toronto’s Ninepoint Partners LP. His C$950 million ($752 million) Ninepoint Energy Fund was Morningstar’s top-performing energy-focused fund in 2021, posting a 189% total return that blew away the S&P/TSX Composite Index’s 22%. The second-best performer, Canoe Energy Portfolio Class, is another Canadian energy-focused fund and posted a total return of 101% last year.