Sun, Apr 20, 2014
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   |   
Banner
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: Classic Auto Funds Limited (CAF) launches several car investing funds[more]

    Bailey McCann, Opalesque New York: A new trend in alternative alternatives is emerging - car appreciation funds. Classic Auto Funds Limited (CAF) is the first to market with several funds that make super elite luxury cars into real asset investments. As a result of growing overseas demand couple

  2. Investing – Big hedge funds bought Puerto Rico's junk bonds, Fidelity explores new trading venue amid flash trade concerns, Crisis-era Greek bonds reward early buyers with big effective returns, Cargill unit discloses stake in Freddie preferred[more]

    Big hedge funds bought Puerto Rico's junk bonds From Reuters.com: Several large hedge funds doubled down on Puerto Rico in last month's giant bond sale despite the U.S. territory's financial struggles, the Wall Street Journal reported, citing confidential documents reviewed by the newspa

  3. Opalesque Exclusive: Hedge fund replicators evolve[more]

    Bailey McCann, Opalesque New York: Hedge fund replicators as a group of products tend to get a bad rap from hedge fund managers who suggest that the best a replicator can offer is dynamic beta capture. A

  4. Opalesque Exclusive: Pensions, endowments, family offices reconsider life settlement investments[more]

    Bailey McCann, Opalesque New York: Hedge funds were once the largest investors in the life settlement industry, now the industry is seeing more interest from pensions, endowments and family offices directly. Life settlements have always been considered a niche part of the investing landscape, an

  5. SEC allows investment funds to use social media[more]

    Bailey McCann, Opalesque New York: The Securities and Exchange Commission (SEC) has released new guidance letting investment funds and advisors use social media to promote client reviews. The guidance seeks to assist investment managers in developing compliance policies and procedures reasonably