Sat, Oct 29, 2016
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Scotia Capital Canadian Hedge Fund Performance Index up 3.69% in October, 13.18% YTD

Tuesday, November 16, 2010
Opalesque Industry Update - The Scotia Capital Canadian Hedge Fund Performance Index finished October 2010 up 3.69% on an asset weighted basis and up 2.80% on an equal weighted basis. The Index performed in line with broader equities, and outperformed broader hedge fund indices on both an asset and equal weighted basis.

Broader capital markets continued to rally in October. Stable macroeconomic indicators, generally favourable Q3 earnings results and expectations for an ongoing low interest rate environment kept market participants’ attention geared towards risky assets. In the US, the S&P 500 rallied 3.69%, with gains in nine of ten sectors, led by materials, IT, and energy. Canada’s S&P/TSX posted gains of 2.49%, also with nine of ten sectors contributing positively. In Canada, materials, financials and energy led the northern rally. Commodities rallied against weakness in the USD, notwithstanding some intra-month volatility following China’s move to slightly raise interest rates for the first time in three years. Market participants’ anticipation of an ongoing low interest rate environment contributed to further strength in gold, which hit more new record highs in October, as well as in other precious metals. Oil and energy related commodities also rallied. Most Canadian hedge funds benefitted from the market rallies in October. The best performers were those with nimbler strategies who took advantage of the markets’ upswing by way of selective stock-picking and expressing macro views. In aggregate, Canadian hedge fund managers continue to maintain a relatively cautious stance and low net exposures.

(press release)

The aim of the Scotia Capital Canadian Hedge Fund Performance Index is to provide a comprehensive overview of the Canadian Hedge Fund universe. To achieve this, index returns are calculated using both an equal weighting and an asset-based weighting of the funds. The index includes both open and closed funds with a minimum AUM of C$15 million and at least a 12 month track record of returns, managed by Canadian-domiciled hedge fund managers...Corporate website:Source

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. David Einhorn speaks on passive investing, Mylan, his cheapest stock, the Fed[more]

    From Greenlight Capital hedge fund manager David Einhorn (Trades, Portfolio) joined nine other famed investors on Tuesday to talk about stocks at the annual Great Investors’ Best Ideas Investment Symposium in Dallas. Presenters at the annual conference typically pitch one or severa

  2. Investing - Fund set up to buy illiquid hedge fund stakes finds plenty of opportunities, Lansdowne's Roden says likes animal genetics company Genus[more]

    Fund set up to buy illiquid hedge fund stakes finds plenty of opportunities From As ValueWalk reported back in February, earlier this year Andrew Lawrence set out to raise $250 million to $500 million for a fund that will buy stakes in hedge funds that have suspended redem

  3. Other Voices: Don’t mistake style for skill — The impact of style factors on trend follower performance[more]

    By John Dolfin, CFA Chief Investment Officer and Christopher Maxey, CAIA, Senior Portfolio Manager of Steben & Company: Managed futures have become an alternative asset class that is widely used by investors seeking overall portfolio diversification and absolute returns independent of the

  4. Opalesque Roundtable: Style drift, poor communications and credibility fatigue are biggest red flags for hedge funds investors[more]

    Komfie Manalo, Opalesque Asia: Style drift, poor communications and credibility fatigue are the biggest red flags for hedge funds investors, said participants of the latest 2016 Opalesque Investor Roundtable, sponso

  5. Barclay CTA Index down 0.40% in September (+0.10% YTD)[more]

    Managed futures traders lost 0.40% in September according to the Barclay CTA Index compiled by BarclayHedge. The Index is up 0.10% year to date. “The US Fed, in spite of its hawkish tone, opted to hold rates steady which roiled financial markets,” says Sol Waksman, founder and president of BarclayHe