Thu, Apr 2, 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 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. Other Voices: Does the hedge fund industry benefit society?[more]

    This article was authored by Don Steinbrugge, Chairman of Agecroft Partners, a US-based global consulting and third party marketing firm for hedge funds. It is no secret that the hedge fund industry is viewed negatively by a la

  2. Opalesque Roundtable: Emerging managers should avoid chasing 'institutional unicorns'[more]

    Bailey McCann, Opalesque New York: For managers looking to raise a new fund after the crisis, marketing efforts will need to be significantly different, according to delegates at the recent Opalesque Texas Roundtable. "Most of the smaller managers come to the whole fund-raising and marketing

  3. Cohen's private investments deliver strong 7.5% gain in Q1[more]

    From Reuters.com: Billionaire Steven A. Cohen's investments gained 7.5 percent in the first three months of 2015, according to a person familiar with the numbers, helping the former hedge fund manager extend his string of market-beating returns. Cohen's Point72 Asset Management, which invests

  4. Hedge fund launches fall again, $1bn funds found to outperform even smaller hedge funds[more]

    Komfie Manalo, Opalesque Asia: The number of new hedge fund launches fell again in 2014, the third consecutive year of decline, while fund liquidations saw their first drop since 2010, according to the latest HFR Market Microstructure Industry Report released by industry data provider HFR. Acc

  5. Opalesque Exclusive: Cyber security and hedge funds: increased awareness, Part One[more]

    Benedicte Gravrand, Opalesque Geneva: If you look at the recent cybersecurity news from Bloomberg, hackers are frightening the people: they steal photos and threaten to expose them, they can break into ATMs, they ha

 

banner