Tue, Dec 1, 2015
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: Hedge fund marketing and the selling cycle[more]

    By Bruce Frumerman. How long is the selling cycle now? That’s a question my financial communications and sales marketing consulting firm has been asked on a regular basis by hedge fund firm owners and sales people, ever since we opened the doors to our firm in 1987 pre-crash. Wa

  2. People - Solus Alternative Asset Management adds chief strategist from BTIG[more]

    From PIonline.com: Daniel Greenhaus joined hedge fund manager Solus Alternative Asset Management as managing director and chief strategist. He will work closely with Chris Bondy, Solus’ chief economist, managing director and executive vice president, said Chris Pucillo, CEO and chief investmen

  3. Commodities - Stung by oil, distressed-debt traders see worst losses since '08[more]

    From Bloomberg.com: It’s mid-November, but for investors who trade in the debt of distressed companies, the year’s already done -- and they lost. Hedge funds that specialize in the debt are grappling with their worst declines in seven years. Funds managed by Knighthead Capital Management, Candlewood

  4. Opalesque Roundtable: Seeding deal terms can be onerous for hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Executives from fund of funds firms, family offices, a placement agent, a private equity firm, and an accounting firm gathered in Connecticut last month for the

  5. Opalesque Roundtable: Family offices flock to co-investment[more]

    Bailey McCann, Opalesque New York: Co-investments have been a hot topic for pension funds in recent years, as they try to move away from high fees and improve transparency. But now, family offices are more readily getting into the mix and establishing in-house deal teams, according to the delega