Mon, Nov 30, 2015
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. Other Voices: Hedge fund marketing and the selling cycle[more]

    By Bruce Frumerman. How long is the selling cycle now? That’s a question my financial communications and sales marketing consulting firm has been asked on a regular basis by hedge fund firm owners and sales people, ever since we opened the doors to our firm in 1987 pre-crash. Wa

  2. People - Solus Alternative Asset Management adds chief strategist from BTIG[more]

    From Daniel Greenhaus joined hedge fund manager Solus Alternative Asset Management as managing director and chief strategist. He will work closely with Chris Bondy, Solus’ chief economist, managing director and executive vice president, said Chris Pucillo, CEO and chief investmen

  3. Opalesque Roundtable: Seeding deal terms can be onerous for hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Executives from fund of funds firms, family offices, a placement agent, a private equity firm, and an accounting firm gathered in Connecticut last month for the

  4. Opalesque Roundtable: Family offices flock to co-investment[more]

    Bailey McCann, Opalesque New York: Co-investments have been a hot topic for pension funds in recent years, as they try to move away from high fees and improve transparency. But now, family offices are more readily getting into the mix and establishing in-house deal teams, according to the delega

  5. More institutional investors invest in CTAs compared to last year despite dissatisfaction with performance[more]

    Benedicte Gravrand, Opalesque Geneva: "Despite a strong start to 2015 for CTAs in Q1, commodity market conditions have made return generation difficult for fund managers over much of the rest of the year to date," says Preqin’s November