![41% of Canadian large-cap managers beat benchmark in Q1](https://www.benefitscanada.com/wp-content/uploads/sites/7/2010/10/horse-race.jpg)
Gold lead the way, surging a record 39% in the quarter according to Kathleen Wylie, head of Canadian equity research at Russell: “Gold stocks surged a record 39% in the quarter, and even though large-cap managers are only 2% underweight, it still hurt their benchmark-relative performance because of the magnitude of the increase. Renewed strength in Energy stocks also added to the challenges since large-cap managers on average are about 3% underweight,” she explained.