Fri, Aug 29, 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 3.58% in September (asset weighted basis) and +2.99% equal weighted basis

Monday, October 18, 2010
Opalesque Industry Update - The Scotia Capital Canadian Hedge Fund Performance Index finished September 2010 up 3.58% on an asset weighted basis and up 2.99% on an equal weighted basis. The Index underperformed broader equities, but performed in line with broader hedge fund indices this month on both an asset and equal weighted basis.

Broader capital markets rallied dramatically in September, reversing the challenges of August. Macroeconomic indicators quelling investor concern over the potential for a double-dip recession coupled with ongoing low fixed income yields to give market participants grounds to return to riskier assets. In the US, the S&P 500 rallied 8.76%, with strongly positive contribution from all ten sectors, led by IT, industrials and consumer discretionary. Canada’s S&P/TSX posted gains of 3.82%, with all sectors contributing positively.

Commodities rallied strongly this month, with solid gains in gold and other precious metals, in oil and energy related commodities, as well as in many softs on weather-related news. The USD depreciated against major currencies, including versus the JPY, despite the Bank of Japan’s attempt to intervene.

Against this backdrop, Canadian hedge funds performed in line with their global peers, with most funds able to take advantage of the September rallies in risk assets. Gains were muted relative to broader financial markets, however, due to hedge fund managers’ relatively low gross and net exposures. While volatility was down in September, as measured by the VIX, managers have not materially changed their cautious stance and remain focused on nimbleness to navigate reversals.

(press release)

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. Study shows what resonates with investors: 'Unwavering', 'passionate' beats 'committed', 'dedicated' and more surprises[more]

    Komfie Manalo, Opalesque Asia: A new study by Pershing Square, a unit of BNY Mellon company, showed that an effective value proposition strengthens audience connections and fosters growth, yet many advisors have had little objective guidance in formulating such statements until now. In the

  2. Institutions – Texas Employees sets 2015 tactical plan for alternatives, CalPERS' real estate consultant cautions the pension fund's investment committee, Why Sunsuper likes hedge funds[more]

    Texas Employees sets 2015 tactical plan for alternatives From PIOnline.com: Texas Employees Retirement System will invest in up to four new hedge funds in the next fiscal year, which begins Sept. 1. Trustees approved 2015 tactical investment plans for the hedge fund, private equity and in

  3. Hedge fund assets decline in July - eVestment[more]

    Bailey McCann, Opalesque New York: Total assets in hedge funds declined in July and dropped 0.49%, marking the industry's second monthly asset decline in 2014, according to the latest asset flows data from eVestment. Despite the asset decline, total industry AUM remained above the $3 trillion

  4. AIMA makes 'the case for hedge funds'[more]

    Bailey McCann, Opalesque New York: The Alternative Investment Management Association (AIMA), the global hedge fund industry body,

  5. Managed futures' global diversification is important in next phase of economic recovery[more]

    Komfie Manalo, Opalesque Asia: The global diversification provided by managed futures may prove to be extremely valuable as the markets enter the next phase of the economic recovery, said Campbell & Company, a pioneer in absolute return invest