Fri, Aug 28, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Scotia Capital Canadian Hedge Fund Index finished December 2010 up 2.23% (20.16% YTD) on asset weighted basis

Wednesday, January 19, 2011
Opalesque Industry Update - The Scotia Capital Canadian Hedge Fund Performance Index finished December 2010 up 2.23% (YTD 20.16%) on an asset weighted basis and up 2.20% (YTD 14.78%) on an equal weighted basis. The Index underperformed broader equities and global hedge fund indices in December, but closed out 2010 with strong outperformance on the year relative to benchmarks on both an asset and equal weighted basis.

Broader equities rallied in December during a relatively quiet month with low trading volumes and decreased volatility. While European sovereign debt and inflation concerns remained at the fore, positive US macroeconomic data contributed to a favourable environment for market participants. In the US, the S&P rebounded, as all ten sectors contributed positively. In Canada, the S&P/TSX advanced a further 3.79%, to finish the year up 14.45%. Gains were slightly dampened by the IT and telecom sectors.

Most commodities advanced in December, especially oil and energy-related resources. Gold was up 2.51%, closing the year up nearly 30% at a record high of $1,421. Silver finished 2010 at $30.92, up a noteworthy 83.18% on the year. In FX, the USD depreciated against major currencies, closing December slightly under par to the CAD. Rates widened again in December on most developed country government bonds, while credit markets rallied.

Canadian hedge fund performance was slightly muted this month relative to broader hedge fund benchmarks. In line with global peers, most Canadian hedge funds took advantage of equity markets’ relative strength, with gains generally made on long equity exposures. The decreased volatility made for a challenging environment for tactical trading. Early December noise in bond markets created some difficulty in fixed income trading, but most managers were able to generate gains on these books by month end.

Commodity-related moves were another positive performance driver. Canadian managers continue to maintain relative caution with net exposures.

(press release)


Table and chart: Source


www.scotiacapital.com


Bg

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. Commodities - Commodity hedge funds lose most in three years as rout deepens, Funds bet on Shell deal as oil prices plunge[more]

    Commodity hedge funds lose most in three years as rout deepens From Bloomberg.com: Hedge funds betting on commodities lost the most in almost three years in July as the price-rout deepened. Funds lost money for a third month, according to the Newedge Commodity Trading Index, which was re

  2. Investing - Hedge funds suddenly find real money is back in Argentina's debt, Elon Musk buys more SolarCity stock following hedge fund manager short, BlackRock plans to get into rental-home financing[more]

    Hedge funds suddenly find real money is back in Argentina's debt From Bloomberg.com: The real money is back in Argentina. Before the country’s default in July 2014 (its second in 13 years), most long-term investors abandoned its bond market. As they rushed out, Argentina became a favorit

  3. JTC acquires Kleinwort Benson’s fund administration business[more]

    Bailey McCann, Opalesque New York: JTC has completed the acquisition of Kleinwort Benson’s fund administration business, boosting assets under administration (AuA) to $56 billion. Kleinwort Benson is based in the Channel Islands, South Africa. The transaction, which relates to the whole of K

  4. Performance - Hedge funds set to bank millions by short selling during London share slump, The China market chaos has made this hedge fund its most money in 2 years, Odey hedge fund said to surge 9% betting against China, Hedge funds with long-held bearish views on China rack up profits, Hedge funds in U.S. seen curbing damage from August turbulence, Hedge funds collect on their predictions of a fall, How did managed futures do while the Dow was down 1000[more]

    Hedge funds set to bank millions by short selling during London share slump From TheGuardian.com: Hedge funds are set to bank tens of millions of pounds from the slump in share prices in London, having bet almost £18bn that the FTSE 100 would fall. The funds making the bets include Lansd

  5. Opalesque Exclusive: John C Head IV leaves alternative investment firm Gallery Capital, David Harrison joins as co-CIO[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: John C Head IV, former president and co-founder of Gallery Capital Management, an alternative inv

 

banner