Sun, Aug 20, 2017
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 up 3.71% in August, 5.39% YTD (asset weighted), 2.09%, 2.94% YTD (equal weighted)

Friday, September 17, 2010
Opalesque Industry Update - The Scotia Capital Canadian Hedge Fund Performance Index finished August 2010 up 3.71% on an asset weighted basis and up 2.09% on an equal weighted basis. The Index reached its highest level since inception in August, and significantly outperformed broader equities and broader hedge fund indices this month on both an asset and equal weighted basis.

Broader equities sold off in August after the July rally, as investors expressed risk aversion and concern over slower than expected economic recovery. In the US, the S&P 500 retreated -4.74%, as eight of ten sectors detracted from performance, led by financials, industrials and IT. Canada’s S&P/TSX posted gains of 1.71%, with seven of ten sectors contributing positively. Canadian materials stocks’ strong aggregate outperformance was primarily attributed to M&A activity – most notably BHP Billiton’s hostile bid for Potash Corp driving its price up 46%, as well as a flight to gold as investors sold off riskier assets. Gold’s strong 5.63% advance was insufficient to offset losses in other commodities. Oil’s stark sell-off by -8.90% was a primary driver in the monthly aggregate decline in commodities, fueled by investor concern over reduced expected demand from China. The USD depreciated further against major currencies, but gained versus the CAD.

Canadian hedge funds outperformed global peers in aggregate in August. Key performance success factors in the current uncertain environment remained: defensive portfolio positioning and nimbleness in navigating reversals. Managers have continued to maintain exposures below pre-crisis levels. Full performance chart: Source

(press release)

- FG

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. Opalesque Exclusive: Albright Capital puts a value lens on emerging markets[more]

    Bailey McCann, Opalesque New York: Over the past decade, investors have steadily increased investments in emerging markets private funds. Allocations to the cohort have increased from $93 billion in December 2006 to $564 billion in September 2016, according to data from research firm Preqin. Howe

  2. Comment: "Long-Term Investing": What managing drawdown risk can do to your long-term returns[more]

    Matthias Knab, Opalesque: Real Investment Advice writes on Harvest Exchange: Last week, I was having lunch with a prospective portfolio management client discussing the curre

  3. Jasper Capital International joins Hedge Fund Standards Board[more]

    Komfie Manalo, Opalesque Asia: Diversified and systematic investment firm Jasper Capital International has become the second China-based signatory to the Hedge Fund Standards Board (HFSB), an organization that brings hedge fund managers and investors together to set standards for the hedge fund i

  4. Investing - Hedge-fund honchos including David Tepper are loading up on Alibaba, Billionaire hedge fund manager Stanley Druckenmiller is betting big on the Chinese consumer, Big-name U.S. hedge funds shed healthcare stocks during the rally in second-quarter, U.S. hedge funds bearish on FAANG stocks in second-quarter, Hedge fund titan Viking Global made a $680 million bet on scandal-plagued Wells Fargo[more]

    Hedge-fund honchos including David Tepper are loading up on Alibaba From CNBC.com: David Tepper's Appaloosa Management and three other he ge funds took new stakes in Chinese e-commerce giant Alibaba in the second quarter, according to the latest quarterly filings. Appaloosa disclos

  5. FinTech - Danger: Crowdfunding on the wrong platform could force you to go public[more]

    From LinkedIn.com: Some equity crowdfunding platforms are putting startups at serious risk. Working with a platform that doesn't structure your deal appropriately could jeopardize your ability to raise future capital or worse, force you to become a public reporting company. The emergence of eq