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TSX trader watches the action
TSX trader watches the action
(CHRIS YOUNG/Chris Young/CP)

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Money managers beat index in 2012, but what’s ahead?

Prolonged tough market conditions have put Canadian asset managers under a lot of pressure, but some bigger bets on energy, materials and financials drove Canadian large-cap asset managers to exceed the country’s benchmark index last year by a solid margin.

With a median annual return of 9.4 per cent, more of these asset managers beat the S&P/TSX composite index’s return in 2012 than in the prior two years, according to a new report by Russell Investments Canada Ltd. Still, the middle of the year proved problematic for both the money managers and their clients. And so far, the outlook is mixed for 2013.