Mr. Machel likes the HGC Arbitrage Fund LP, which has returned a whopping 38.4 per cent net of fees since its inception in June of 2013. That compares with 28.2 per cent for the S&P/TSX total return index.

Although September returns have not been finalized, the gap has widened in favour of HGC, a spokesman for the firm said, especially after the recent stock market carnage. HGC Investment Management Inc. of Toronto is the fund’s manager.

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