Thu, Jun 30, 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 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. 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

  2. Manager Profile - A 26-year old hedge fund manager called Brexit — here's what he thinks about the historic vote[more]

    From Businessinsider.com: Taylor Mann is not your typical fund manager. The twenty-six year old Texas A&M graduate manages Pine Capital in Larue, Texas (population 160), where he resides with his three-year old daughter. Also atypical compared with many of the largest funds out there, Mann makes

  3. Chesapeake Partners to liquidate hedge fund amidst 'hostile environment'[more]

    Komfie Manalo, Opalesque Asia: Chesapeake Partners Management, the hedge fund run by woman fund manager Traci Lerner said it would return investors’ money after 25 years because the market environment has become "hostile" to manage other people’s money, reported

  4. Europe - George Soros says Brexit has ‘unleashed’ a financial markets crisis, Brexit—what we know, Will the UK’s departure be a ‘soft-Brexit’ or a ‘hard-Brexit’?, Brexit: Six-point action plan for asset managers[more]

    George Soros says Brexit has ‘unleashed’ a financial markets crisis From Bloomberg.com: Britain’s decision to leave the European Union has “unleashed” a crisis in financial markets similar to the global financial crisis of 2007 and 2008, George Soros told the European Parliament in Bruss

  5. Hedge Fund Due Diligence Exchange offers complete due diligence reports at $1500[more]

    Matthias Knab, Opalesque: HFDDX is offering complete alternative investment due diligence reports at $1500 US. Industry professionals can simply go to www.hfddx.com and indicate their interest in sponsoring one or more DD Reports for $1500 each.