Canadian hedge fund firm Senvest Capital is trying to repeat its phenomenal year in 2013.
Bloomberg Businessweek reported that Montreal-based Senvest, whose long/short fund returned 79.4% last year, is setting a goal that the stocks they buy should have the potential to double or triple in price over one to three years. The firm was named the best-performing midsize fund in Bloomberg Markets’ 2013 hedge-fund ranking.
Senvest returned an average of 20.6% annually in the 17 years it has been in operation through December 2013. The fund gained an overwhelming 229% in 2009 and 169% in 2003.
Senvest, which began trading publicly in 1971, is currently valued at about $384 million.