Hedge Funds in Canada?

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Hi all,

I was wondering if anyone knows anything about the hedge fund industry in Canada? If so, is recruiting similar to the US? UK? Is compensation similar to the US and UK?

What about Sales & Trading departments in Investment Banks still existent? Are there prop trading firms in Canada? What about asset management firms and the like? Which financial and trading hubs are there? I have heard that Toronto is one, is Montreal one too? What is the common language of Finance within Canada: English or French? I understand that French is the primary language of Montreal. And, how does the Canadian scene compare with London?

Finally, as a Canadian passport holder, how easy is it to get a job in the United States in the securities trading industry and how valued are Canadian degrees in comparison to British degrees in the US industry?

If anyone could shed any light on this, that would be great, thank you!

Comments (3)

 
Jun 11, 2016 - 10:33am

You're asking 12 very different questions in a single post, why don't you trim it down and make sure you can't find answers elsewhere?

I don't think French would ever be used, especially on trading desks, considering that everything/everyone you encounter will be English based (correct me if I'm wrong). Getting a job in the US (or anywhere) is going to depend on the university you attend and your network. I'll answer your question on hedge funds later today.

The thing is London is the largest trading hub and if you go to a top university in the UK I don't think it would make much sense to go to the US - or at least people will find it 'weird'. That wouldn't happen should you go to Canada where moving to the US is more understandable.

 
Jun 11, 2016 - 7:44pm

A few points about the hedge fund industry in Canada:
1. Very small. You have a few hundred funds across the country.
2. Funds' AUM is extremely small when you compare it to the US.
3. Regulatory environment is also very different.
4. Large investors mostly place their money in US funds (for a large number of reasons) which makes it hard on Canadian HFs in terms of raising capital.

On the flip side, a smaller industry means people "know each other" better. If that's of any interest to you I also remember reading a report a few months looking at how Canadian HFs tend to have a lower correlation to the market and perform better than their peers on a risk adjusted basis.

You can't truly predict compensation because it is way too dependent on firm size, style, location, performance, etc., and the same can be said about recruiting (and are we talking trading, research...?).

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