Tue, Jun 28, 2016
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 Roundup: Hedge funds shrink as liquidations outpace new launches in Q1: hedge fund news, week 27[more]

    In the week ending 17 May, 2016, HFR said hedge fund liquidations declined narrowly to begin 2016 after rising sharply to conclude 2015, as investors positioned f

  2. Europe - Hedge funds keep powder dry over big Brexit bets, Hedge funds sense profit in Europe shock waves after Brexit vote, Soros warns Brexit may cause pound plunge worse than Black Wednesday, After Brexit: What will happen if Britain votes to leave the UK?[more]

    Hedge funds keep powder dry over big Brexit bets From FT.com: Hedge funds are shying away from big bets on Brexit, with many unwilling to risk further losses having already suffered a painful first half of the year. With the outcome of a UK vote on the country’s membership of the Europea

  3. News Briefs - ’Flash Boys’ get green light to launch stock exchange, Pimco says ‘storm is brewing’ in U.S. commercial real estate, Bankers get ready to rumble at Hedge Fund Fight Night, AIMA Australia celebrates 15th anniversary[more]

    ’Flash Boys’ get green light to launch stock exchange In an investing environment ruled by fast, the newest U.S. public stock exchange is banking on slow. Well, slower. IEX Group, which won Securities and Exchange Commission approval on Friday to go head-to-head with the New York Stock E

  4. Blackstone buys minority stake in New York-based credit hedge fund Marathon[more]

    Benedicte Gravrand, Opalesque Geneva: Blackstone Strategic Capital Holdings Fund, a vehicle managed by Blackstone Alternative Asset Management (BAAM), has acquired a passive, minority interest in Marathon Asset Management, for an undisclosed sum. Based in New York,

  5. Investing - Soros, Druckenmiller among hedgies profiting in market plunge, Hedge funds were most bullish on bonds since 2004 before Brexit, Surprise Brexit vote unleashes scramble for dollars, High-yield hit on Brexit but no panic selling, Scientist turned hedge fund founder lured to pound, euro, Hedge fund avoids commodities, posts big gains[more]

    Soros, Druckenmiller among hedgies profiting in market plunge From HITC.com: Bullish positions in gold and volatility and well-timed short bets on China and emerging markets, among other areas, were some of the trades that benefited hedge funds on Friday as markets digested Britons' s