Canada's mounting assets

country focus: cANADA

The hedge fund industry in Canada, whose approximately 200 hedge funds hold about $15bn, may be pint-sized compared to the industry in the US, but it is growing rapidly. There are only 35 hedge funds in Canada with assets above $100m, but that, too, is expected to change."As recently as four or five years ago, total assets in the hedge fund industry were between $4bn and $5bn," says Patrick Blessing a director of Scotia Bank's prime brokerage unit whose full service prime brokerage offering