Success in 2023 hinged almost entirely on whether stock pickers held Shopify
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For Canadian stock pickers, success in 2023 hinged almost entirely on whether they held Shopify Inc.
That was the finding from an S&P Global analysis of active fund managers in Canada last year, when the e-commerce company’s 119 per cent surge was the single biggest contributor to the S&P/TSX composite index’s total return of 12 per cent.
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In short, if a fund manager picked Shopify, she was more likely to beat the benchmark for Canadian equities. Most of the 71 actively managed Canadian equity funds did…
