Thu, Sep 1, 2016
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. The Big Picture: Water is single largest environmental investment opportunity[more]

    Benedicte Gravrand, Opalesque Geneva: Water, the world’s most precious and undervalued commodity, is set to lead the socially and environmentally responsible investment themes. This is according to specialist fund manager Thomas Schumann. His firm,

  2. Commodities - Hedge funds pile into bullish bets on U.S. crude by most on record, Rig count steady, hedge funds dump short contracts on 63 million barrels, Hedge funds bail on Copper as Goldman predicts ‘supply storm’, Hedge funds pile up bets against sterling[more]

    Hedge funds pile into bullish bets on U.S. crude by most on record From BRecorder.com: Hedge funds and other speculators raised their bullish bets on US crude oil in the past week by the most on record fuelled by speculation that Organization of the Petroleum Exporting Countries will agr

  3. Investing - U.S. hedge fund Marathon makes Brexit bet on European property, Hedge funds love Liberty and John Malone, DE Shaw could bid for control over TerraForm Power, New York hedge fund increases stake in Tronc as sale talks continue, Don't wait too long to check this +20% value fund's ideas[more]

    U.S. hedge fund Marathon makes Brexit bet on European property From FT.com: Marathon, a $13bn US hedge fund, is building a big Brexit trade, increasing its investments in property across Ireland, France, Germany and the Netherlands, in a bet that they will be among the big beneficiaries

  4. Investing - Hedge funds express interest in acquiring Terraform's class B shares, REIFs: A new opportunity for foreign real estate investors, $21bn distressed expert hedge fund likes these 4 ideas, This merger arbitrage ETF is drawing increased interest, Investors look to emerging Asia for returns[more]

    Hedge funds express interest in acquiring Terraform's class B shares From Thecountrycaller.com: The US residential solar provider, Sunedison Inc. has received a bid from hedge fund manager D.E Shaw & Co LP for controlling a stake in its Yieldco TerraForm Power Inc. According to Reuters,

  5. Opalesque Exclusive: Investors struggle to identify the better performing hedge funds[more]

    Komfie Manalo, Opalesque Asia: Fund managers and investors believe that performance is one of the major factors driving change in the hedge fund industry, a Preqin survey showed in its latest Hedge Fund Spotlight. Preqin said that the disappoin