(Bloomberg) -- Market volatility in 2020 boded well for a Canadian hedge fund that seeks to capitalize on stock inefficiencies along with event-driven opportunities. Toronto-based XIB Asset Management posted a 16.8% rise in December, bringing its annual gain to 72%. The S&P/TSX Composite Index climbed 2.2% last year and 1.4% in December. The vaccine roll-out and initial inoculations helped boost performance in December, which also partially stemmed from catalysts in the electric vehicle, gaming, base metals, hydrogen energy, alternative health-care, and cannabis sectors, according to XIB’s letter.