Mon, Apr 24, 2017
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. Opalesque Exclusive: Carden Capital bets on volatility[more]

    Bailey McCann, Opalesque New York for New Managers: Machine driven strategies are having a bit of a moment in the hedge fund world right now. Systematic funds have outperformed other strategies at a time when all ey

  2. Sprott AM to sell Canadian diversified fund business to management-led group[more]

    Komfie Manalo, Opalesque Asia: Toronto-based asset management company Sprott Asset Management LP (SAM) has entered into an agreement to sell its Canadian diversified fund business to a management-led group. Under the deal, the new group will have

  3. Investing - These hedge funds (and Madeleine Albright) are betting on a debt crisis, Hedge funds are upping their bets on the death of the traditional retailer, $20bn hedge fund recaps Corizon[more]

    These hedge funds (and Madeleine Albright) are betting on a debt crisis From Yahoo.com: There could be a big debt crisis brewing in places like China, India, Latin America and Africa -- and a growing number of investors are amassing war chests to cash in on the distress. Albright Capital

  4. Universities looking to defend endowments from Republican tax plan[more]

    From PIOnline.com: Some of the richest U.S. colleges are pushing back against scrutiny by Congress over the tax-exempt status of university endowments. Lobbying disclosure forms show almost two dozen schools such as Princeton University, University of Notre Dame and Cornell University are including

  5. Activist News - GAM touts 'tangible results' of turnaround as activist fight hots up, Bill Ackman not done with Herbalife, says his fight could get legs in May, Activist hedge fund CIAM says Euro Disney's buyout offer not fair for minority investors[more]

    GAM touts 'tangible results' of turnaround as activist fight hots up From FNLondon.com: GAM, the Swiss asset manager at the center of an attempted boardroom putsch by activist hedge fund RBR Capital, said its first-quarter results amounted to "tangible" proof that its management's plan f