Sun, Feb 7, 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. How Einhorn survived a nightmare year[more]

    From Bloomberg.com: Even when a hedge fund has an awful year, which was the case for David Einhorn's Greenlight Capital, there are lessons to be learned. Many funds would have had a tough time surviving a year like Einhorn experienced in 2015, when all the stars seemed to align against him and Green

  2. Legal - Hedge fund founder wins early release in U.S. insider trading case, Gramercy seeking $1.3 billion from Peru over land-bond dispute[more]

    Hedge fund founder wins early release in U.S. insider trading case From Reuters/Streetinsider.com: Former hedge fund manager Doug Whitman on Tuesday won a reprieve from serving the remainder of his two-year sentence for insider trading after several judges expressed skepticism that his 2

  3. Investing - David Einhorn finds a winner in Michael Kors[more]

    From Thestreetinsider.com: Greenlight Capital hedge fund manger David Einhorn took his lumps in 2015. The fund lost over 20 percent on the year amid bets gone bad being long a plunging SunEdison and short a couple high-flying FANG stocks. However, today Einhorn is again showing his stock picking pro

  4. Investing - Avenue Capital's Marc Lasry: We like European bank loans, Comment: A bunch of hedge fund managers are chasing the 'dream of crushing a major structural problem'[more]

    Avenue Capital's Marc Lasry: We like European bank loans From CNBC.com: European banks are under immense pressure, but at least one prominent hedge fund has found what it thinks is a good opportunity in the wreckage. Marc Lasry, co-founder and chief executive of hedge fund Avenue Capital

  5. Computer-driven hedge funds make money during January’s selloff[more]

    Komfie Manalo, Opalesque Asia: Commodity trading advisers (CTAs) that use computer programs to guide how they trade, made millions of dollars during last month’s market selloff on the back of declining oil prices and global equities and big moves in currencies. Data provider