Toronto, Ontario--(Newsfile Corp. - October 21, 2026) - The 2026 Canadian Hedge Fund Awards, the highest honour in Canada's hedge fund industry, were presented yesterday evening at the annual Gala Awards Dinner at One King West Hotel in Toronto.
The Canadian Hedge Fund Awards help investors and their advisors identify the most exceptional hedge funds, recognizing winners in 7 categories as well as the Overall Best 2026 Canadian Hedge Fund.
A total of 321 Canadian Hedge Funds were included in the 2026 CHFA program. The awards are based solely on quantitative performance data to June 30th, with Fundata Canada managing the collection and tabulation of the data to determine the winners. There is no nomination process or subjective assessment in identifying the winning hedge funds.
For the full Directory of Canadian Hedge Funds, check here: THE Canadian Hedge Fund Directory - Alternative IQ
Average Canadian Hedge Fund Performance as at June 30, 2026
| Category | Avg 1Yr Return% | Avg 3Yr Return% | Avg 5Yr Return% | Avg 10Yr Return% | Avg 3Yr Sharpe | Avg 5Yr Sharpe | Avg 10 Yr Sharpe |
| Equity Focused | 21.82 | 15.50 | 7.27 | 9.82 | 0.94 | 0.43 | 0.59 |
| Credit Focused | 5.36 | 7.67 | 5.38 | 6.25 | 1.68 | 0.83 | 0.76 |
| Market Neutral | 7.54 | 6.79 | 5.31 | 4.83 | 1.04 | 0.53 | 0.62 |
| Global Macro/Managed Futures/Multi-Strategy | 15.13 | 10.09 | 5.77 | 6.44 | 0.86 | 0.43 | 0.58 |
| Private Debt | 3.68 | 4.54 | 4.82 | 7.18 | |||
| Private Equity | 7.70 | 5.36 | 4.27 | 1.43 | |||
| Mortgage | 0.97 | 5.01 | 5.71 | 5.86 | |||
| Total | 17.09% | 12.56% | 6.54% | 8.35% | 1.03 | 0.50 | 0.61 |
Overall Best 2026 Canadian Hedge Fund:
(based on best combined 10-year annualized return and Sharpe ratio).
| (based on 10 Year Return AND Sharpe Ratio) | |||
| Place | Fund Name | 10 Year Return | 10 Year Sharpe Ratio |
| 1 | MMCap Canadian Fund | 24.30% | 1.01 |
| 2 | Maxam Value Fund | 21.36% | 1.03 |
| 3 | Canoe Energy Alpha Fund LP | 20.74% | 1.02 |
2026 Canadian Hedge Fund Award Winners by Category are:
Equity Focused Category
| 1 Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | Bromma Resource Canada Access Fund | 98.51% |
| 2 | Lucida Opportunities Fund LP | 83.02% |
| 3 | Maxam Value Fund | 81.74% |
| 3 Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | Optimist Fund | 36.61% |
| 2 | Portland Focused Plus Fund LP | 34.47% |
| 3 | Maxam Value Fund | 34.21% |
| 5 Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | Canoe Energy Alpha Fund LP | 28.01% |
| 2 | Agilith North American Diversified Fund | 20.51% |
| 3 | Kipling Global Enhanced Dividend Fund | 17.90% |
| 10 Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | MMCap Canadian Fund | 24.30% |
| 2 | Maxam Value Fund | 21.36% |
| 3 | Canoe Energy Alpha Fund LP | 20.74% |
| 3 Year Average Annual Sharpe Ratio | ||
| Place | Fund Name | Sharpe Ratio |
| 1 | SMI Defensive LP | 4.44 |
| 2 | Focus Tactical Equity Strategy | 1.99 |
| 3 | Jemekk Long/Short Fund LP | 1.82 |
| 5 Year Average Annual Sharpe Ratio | ||
| Place | Fund Name | Sharpe Ratio |
| 1 | SMI Defensive LP | 3.96 |
| 2 | Canoe Energy Alpha Fund LP | 1.34 |
| 3 | Kipling Global Enhanced Dividend Fund | 1.22 |
| 10 Year Average Annual Sharpe Ratio | ||
| Place | Fund Name | Sharpe Ratio |
| 1 | SMI Defensive LP | 1.29 |
| 2 | Lumen Long Short Equity Fund | 1.18 |
| 3 | PICTON Long Short Equity Fund | 1.08 |
Credit Focused Category:
| 1 Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | Goodwood Milford Fund | 12.28% |
| 2 | Purpose Credit Opportunities Fund | 11.79% |
| 3 | Kipling Strategic Income Fund | 9.00% |
| 3 Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | Purpose Credit Opportunities Fund | 11.83% |
| 2 | Kipling Strategic Income Fund | 11.05% |
| 3 | Wealhouse Amplus Credit Income Fund | 9.54% |
| 5 Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | Wealhouse Amplus Credit Income Fund | 9.25% |
| 2 | East Coast Strategic Credit Trust | 7.49% |
| 3 | Kipling Strategic Income Fund | 7.12% |
| 10 Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | Purpose Credit Opportunities Fund | 10.24% |
| 2 | East Coast Strategic Credit Trust | 7.98% |
| 3 | RP Select Opportunities Fund | 7.83% |
| 3 Year Average Annual Sharpe Ratio | ||
| Place | Fund Name | Sharpe Ratio |
| 1 | Kipling Strategic Income Fund | 4.22 |
| 2 | Wealhouse Amplus Credit Income Fund | 3.94 |
| 3 | East Coast Strategic Credit Trust | 2.56 |
| 5 Year Average Annual Sharpe Ratio | ||
| Place | Fund Name | Sharpe Ratio |
| 1 | Wealhouse Amplus Credit Income Fund | 3.35 |
| 2 | Kipling Strategic Income Fund | 1.77 |
| 3 | East Coast Strategic Credit Trust | 1.53 |
| 10 Year Average Annual Sharpe Ratio | ||
| Place | Fund Name | Sharpe Ratio |
| 1 | Purpose Credit Opportunities Fund | 1.31 |
| 2 | PICTON Credit Opportunities Fund | 1.09 |
| 3 | PICTON Long Short Income Fund | 0.96 |
Market Neutral Category:
| 1 Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | Caravel Capital (Canada) Fund | 27.26% |
| 2 | CC&L Global Market Neutral | 13.25% |
| 3 | Altema Diversified Equity Market Neutral Fund | 13.04% |
| 3 Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | Caravel Capital (Canada) Fund | 20.81% |
| 2 | CC&L Global Market Neutral | 12.62% |
| 3 | PICTON Market Neutral Equity Fund | 9.45% |
| 5 Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | Caravel Capital (Canada) Fund | 11.64% |
| 2 | CC&L Global Market Neutral | 10.47% |
| 3 | PICTON Market Neutral Equity Fund | 7.41% |
| 10 Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | The HGC Fund LP | 9.20% |
| 2 | PICTON Market Neutral Equity Fund | 6.62% |
| 3 | Waratah One X | 5.36% |
| 3 Year Average Annual Sharpe Ratio | ||
| Place | Fund Name | Sharpe Ratio |
| 1 | Caravel Capital (Canada) Fund | 2.52 |
| 2 | CC&L Global Market Neutral | 2.07 |
| 3 | PICTON Market Neutral Equity Fund | 1.66 |
| 5 Year Average Annual Sharpe Ratio | ||
| Place | Fund Name | Sharpe Ratio |
| 1 | CC&L Global Market Neutral | 1.77 |
| 2 | PICTON Market Neutral Equity Fund | 1.28 |
| 3 | Caravel Capital (Canada) Fund | 1.07 |
| 10 Year Average Annual Sharpe Ratio | ||
| Place | Fund Name | Sharpe Ratio |
| 1 | PICTON Market Neutral Equity Fund | 1.13 |
| 2 | The HGC Fund LP | 1.07 |
| 3 | PICTON Arbitrage Fund | 0.82 |
Global Macro/Managed Futures/Multi-Strategy Category:
| Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | Koi Arbitrage Fund | 190.83% |
| 2 | Fieldhouse Global Managed Futures | 88.14% |
| 3 | SIA ML Global Tactical Pool | 54.12% |
| 3 Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | Fieldhouse Global Managed Futures | 36.61% |
| 2 | SIA ML Global Tactical Pool | 27.62% |
| 3 | Viewpoint Enhanced Global Multi-Asset | 19.68% |
| 5 Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | SIA ML Global Tactical Pool | 15.88% |
| 2 | CC&L Absolute Return Fund | 13.53% |
| 3 | Palos Income Fund, LP | 10.64% |
| 10 Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | AIP Convertible Private Debt Fund LP | 11.99% |
| 2 | Palos Income Fund, LP | 10.88% |
| 3 | K2 Principal Fund LP (The) | 9.52% |
| 3 Year Average Annual Sharpe Ratio | ||
| Place | Fund Name | Sharpe Ratio |
| 1 | AIP Convertible Private Debt Fund LP | 2.54 |
| 2 | PICTON Multi-Strategy Alpha Fund | 1.89 |
| 3 | CC&L Absolute Return Fund | 1.71 |
| 5 Year Average Annual Sharpe Ratio | ||
| Place | Fund Name | Sharpe Ratio |
| 1 | Westcourt Performance Portfolio | 1.69 |
| 2 | CC&L Absolute Return Fund | 1.22 |
| 3 | PICTON Multi-Strategy Alpha Fund | 0.97 |
| 10 Year Average Annual Sharpe Ratio | ||
| Place | Fund Name | Sharpe Ratio |
| 1 | AIP Convertible Private Debt Fund LP | 1.15 |
| 2 | CC&L Absolute Return Fund | 0.85 |
| 3 | TURN8 Alternative Fund | 0.67 |
Private Debt Category
| 1 Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | Merchant Opportunities Fund LP | 14.36% |
| 2 | Evergreen GAP Debt LP | 12.45% |
| 3 | Westbridge Capital Partners Income Trust | 12.29% |
| 3 Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | Merchant Opportunities Fund LP | 13.20% |
| 2 | AGF SAF Private Credit LP | 11.63% |
| 3 | Evergreen GAP Debt LP | 11.54% |
| 5 Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | Merchant Opportunities Fund LP | 13.52% |
| 2 | Evergreen GAP Debt LP | 11.34% |
| 3 | Westbridge Capital Partners Income Trust | 11.15% |
| 10 Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | Merchant Opportunities Fund LP | 9.03% |
| 2 | Invico Diversified Income Fund | 8.37% |
| 3 | Next Edge Private Debt Fund | 6.55% |
Private Equity Category
| 1 Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | Kinsted Strategic Growth Pool | 37.50% |
| 2 | Franklin Lexington PE Secondaries Fund | 23.20% |
| 3 | Portland Global Sustainable Evergreen LP | 3.20% |
| 3 Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | Kinsted Strategic Growth Pool | 18.48% |
| 2 | Portland Global Sustainable Evergreen LP | 5.95% |
| 3 | Canoe Global Private Equity Fund | 1.99% |
| 5 Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | Kinsted Strategic Growth Pool | 13.81% |
| 2 | Portland Global Sustainable Evergreen LP | 7.54% |
| 3 | Canoe Global Private Equity Fund | 4.02% |
Mortgage Funds Category
| 1 Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | Sterling Mortgage Income Fund | 14.40% |
| 2 | Capital Direct 1 Income Trust | 8.83% |
| 3 | Westboro Mortgage Investment Fund | 8.82% |
| 3 Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | Sterling Mortgage Income Fund | 13.41% |
| 2 | Westboro Mortgage Investment Fund | 9.72% |
| 3 | Capital Direct 1 Income Trust | 9.41% |
| 5 Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | Sterling Mortgage Income Fund | 14.15% |
| 2 | Westboro Mortgage Investment Fund | 9.01% |
| 3 | Capital Direct 1 Income Trust | 8.69% |
| 10 Year Average Annual Return | ||
| Place | Fund Name | Return |
| 1 | Sterling Mortgage Income Fund | 11.32% |
| 2 | Capital Direct 1 Income Trust | 8.29% |
| 3 | Westboro Mortgage Investment Fund | 7.76% |
The 2026 Canadian Hedge Fund Awards program would not have been possible without the generous support of its Sponsors:
- Principal Sponsor: Fundata Canada
- Table Sponsor: SGGG Fund Services
- Associate Sponsors: CIBC Capital Markets, National Bank Independent Network, and TD Bank
- Media Partner: Newsfile Canada
The CHFA Winners Showcase 2027 Investor Conference will be held in Toronto in February and will feature award-winning Canadian hedge fund managers.
For more information about the annual CHFA program or the annual CHFA Winners Showcase Investor Conferences, go to: - Alternative IQ, or call:
Julie Makepeace
Managing Director, Alternative IQ; and
President, Alliance Sales and Marketing, Inc.
jmakepeace@alliancesalesandmarketing.com
416-906-3782
About Alternative IQ: Alternative IQ produces the annual Canadian Hedge Fund Awards program and its presentation events held in Toronto each autumn (performance as at June 30th), the annual CHFA Winners Showcase Investor Conferences (which present managers of award-winning hedge funds to investors), and various other programs and publications serving the hedge fund industry in Canada. Alternative IQ is dedicated to celebrating, supporting and expanding Canada's Hedge Fund Industry. AIQ is a division of Alliance Sales and Marketing, Inc.
About the Annual Canadian Hedge Fund Awards: The Annual Canadian Hedge Fund Awards were first held in 2008 and have a two-fold objective: First, to celebrate the talent and accomplishments of Canada's hedge fund industry, and second, to draw attention to Canada's hedge funds by raising the awareness of that expertise in the media and among the wider investment community.
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