Fri, May 6, 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 finishes November up 0.27% (-2.09% YTD) on asset weighted basis, down 0.50% (-8.27% YTD) on equal weighted basis

Tuesday, December 20, 2011
Opalesque Industry Update - The Scotia Capital Canadian Hedge Fund Performance Index finished November 2011 up 0.27% on an asset weighted basis and down 0.50% on an equal weighted basis. The Index outperformed broader equities and global hedge fund peers on both asset and equal weighted bases.

November was characterized by more extreme intra-month volatility, as broader equity markets gave back most of October’s gains throughout the month, then reversed dramatically during the last three days. Key drivers impacting markets were investor concerns over worsening European debt issues, a potential default by Greece as its prime minister called a surprise referendum that was subsequently called off, and more fears of contagion, particularly in Italy where bond yields surged. Better than expected retail sales over the US Thanksgiving holiday contributed to the US equity markets’ rally at month end, with the S&P 500 containing monthly losses at -0.51%. Canadian equities followed a similar trajectory, with performance led by the Health Care, Materials and Telecom sectors, and closed out the month at -0.39%. The USD strengthened against most major currencies in November, but weakened slightly against the JPY. Commodities slowed in aggregate on the back of a stronger USD. Expectations for slower economic growth additionally contributed to a decline for base metals. WTI Crude, on the other hand, advanced 7.69% on concerns over supply given unrest in oil-producer Iran.

Canadian hedge funds posted flat results in aggregate in November. The range in performance dispersion was not as wide as in the previous few months. Most managers did not benefit from the strong upswing in risk assets at the end of the month due to generally defensive positioning and lower risk levels. Uncertainty and volatility remain key leitmotifs in the current environment. Full performance table: Source

(press release)

- FG

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. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n

  2. Opalesque Exclusive: Hedge fund talent, fees take a hit at the Milken Global Conference[more]

    Bailey McCann, Opalesque New York: It's been a rough year for hedge funds and now, even other managers are panning them. "Frankly, I’m blown away by the lack of talent," was Point 72 CEO Steven Cohen's assessment of trying to find candidates to hire in the investment business at a panel o

  3. Hedge funds fell in April as alternative UCITS surge in Europe[more]

    Komfie Manalo, Opalesque Asia: Hedge funds shed more in April with the Lyxor Hedge Fund Index down 0.9% during the month (-2.8% YTD), but there was some good news with alternative UCITS showing strong inflows in Europe. In its Weekly Briefing, Lyxo

  4. Global hedge funds recover in April on resurging energy commodities[more]

    Komfie Manalo, Opalesque Asia: Global hedge funds recovered in April with the HFRX Global Hedge Fund Index gaining +0.41% last month (-1.47% YTD), while the HFRX Market Directional Index gained +5.31% during the same

  5. AIG lost $349m in hedge fund portfolio in Q1[more]

    Komfie Manalo, Opalesque Asia: Large US insurance group AIG lost a net $183m for the first quarter 2016, year-on-year. The group blames the loss on the impact of market volatility on investments, as well as net realised capital losses and restructuring costs. Its hedge fund portfolio made a n