An interesting observation from a POET friend.
MMCAP, an event strategy fund, returned +8.61%e, bringing the Fund’s cumulative return since inception 8 ½ years ago (in March 2016) to +498.18%e (+23.17%e annualized), significantly outperforming the equity markets in Canada (7.54%e annualized) and even the red-hot US market (13.58%e annualized) over the same period.
The impact of the outperformance is material – based on those historical returns, your investment would have doubled in only 3.3 years vs. 9.5 years to double in the TSX and 5.4 years in the S&P 500.
In dollar terms, $100,000 invested in MMCAP at inception would now be worth $598,180 as compared to only $186,623 in the TSX and $298,230 in the S&P.
