Mon, Sep 22, 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. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  3. Institutions - North Carolina workers call on state pension to dump up to $6bn in hedge funds, UK pension fund criticizes hedge fund fees[more]

    North Carolina workers call on state pension to dump up to $6bn in hedge funds From Forbes.com: The State Employees Association of North Carolina this afternoon called on state Treasurer Janet Cowell to withdraw all investments in hedge funds, which appear to amount to approximately $6 b

  4. Investors looking at other sources for hedge fund-like returns[more]

    Komfie Manalo, Opalesque Asia: Investors who are always on the lookout for higher gains are looking at alternative sources of income, particularly exchange-traded fund industry that generates hedge fund-like returns, according to

  5. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e