Marijuana Helped the World’s Top Hedge Fund Gain 145%

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Marijuana Helped the World's Top Hedge Fund Gain 145%

Flickr / Steve Snodgrass / (CC BY 2.0)

Bets on marijuana companies helped an Australian manager soar 145 percent last year to become the world’s best-performing hedge fund.

Stock and credit investments in North American marijuana producers contributed to 22 percentage points of last year’s gain for the $200 million Tribeca Global Natural Resources Fund, said Sydney-based Ben Cleary, who co-manages the pool with Craig Evans. The fund has advanced 4 percent this year through February, Cleary said.

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