Tue, Sep 1, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Scotia Capital Canadian Hedge Fund Performance Index -2.20% in July, 1.62% YTD (asset weighted), -0.33%, 0.83% YTD (equal weighted)

Thursday, August 19, 2010
Opalesque Industry Update - The Scotia Capital Canadian Hedge Fund Performance Index finished July 2010 down 2.20% on an asset weighted basis and down 0.33% on an equal weighted basis. The Index underperformed broader equities and broader hedge fund indices in July on both an asset- and equal weighted basis.

Global equities rebounded strongly in July, reversing some of the steep decline through May and June. Better than expected results from stress tests conducted on European banks lifted investor concern over the near-term possibility of “double-dip” recession. In the US, the S&P 500 rallied 6.88%, driven primarily by Q2 corporate earnings that exceeded analyst expectations as all sectors advanced on the month.

Broad based gains also drove a monthly advance of 3.71% in Canada’s S&P/TSX. Canadian materials stocks were the only underperforming sector, due mainly to a decline in the price of gold as investors returned to riskier assets. Continued growth in developing countries such as China, India, and Brazil increased aggregate demand for other commodities, such as crude oil, which was up 4.39%. Against the backdrop of the rally in commodities, the USD depreciated against most major currencies, including the CAD, with which it hovered close to par throughout the month.

Canadian hedge funds once again showed wide dispersion within strategy sectors in their July results. Portfolio positioning remained a key perfordriver, as well as the ability to navigate the sharp trend reversals in equities, gold and EUR-USD. Full performance chart: Source

kb

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Cliff Asness attracts $360 million as liquid alternative funds hold up[more]

    From Bloomberg.com: As U.S. stocks suffered their worst month in more than three years in August, Clifford Asness’s managed futures fund was able to profit. Investors are taking notice. The $9.12 billion AQR Managed Futures Strategy Fund pulled in an estimated $360 million in net subscriptions last

  2. Activist News - Carl Icahn has snapped up a huge stake in Freeport-McMoRan, and the stock is ripping, Meet Europe's best activist investor[more]

    Carl Icahn has snapped up a huge stake in Freeport-McMoRan, and the stock is ripping From Businessinsider.com: Carl Icahn has picked his next target: Freeport-McMoRan. Icahn and a group of other investors have snapped up an 8.46% stake in mining company Freeport-McMoRan, according to a j

  3. North America - Hedge fund manager Ray Dalio’s challenge to the Fed[more]

    From Newyorker.com: For some reason, Janet Yellen, the chair of the Federal Reserve, decided to skip this year’s annual Fed conference in Jackson Hole, where monetary policymakers from the United States and abroad get together with some prominent academics to discuss the big issues of the moment. Th

  4. Performance - Einhorn and Loeb's hedge funds both decline 5% in August, Some target-date funds miss in the market turmoil[more]

    Einhorn and Loeb's hedge funds both decline 5% in August From Reuters.com: Hedge fund billionaires David Einhorn and Daniel Loeb saw their main funds lose roughly 5 percent in August during a dramatic market sell off, two people familiar with their returns said on Monday. Einhorn's

  5. Opalesque Exclusive: Foundation returns slide, but commitment to alternatives remains[more]

    Bailey McCann, Opalesque New York: Private and community foundations posted returns of 6.1 percent for the 2014 fiscal year (January 1 – December 31, 2014), down from the 15.6 percent return reported for FY2013, according to the latest Council on Foundations–Commonfund Study of Investment of End

 

banner