Thu, Apr 2, 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 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. Other Voices: Does the hedge fund industry benefit society?[more]

    This article was authored by Don Steinbrugge, Chairman of Agecroft Partners, a US-based global consulting and third party marketing firm for hedge funds. It is no secret that the hedge fund industry is viewed negatively by a la

  2. Opalesque Roundtable: Emerging managers should avoid chasing 'institutional unicorns'[more]

    Bailey McCann, Opalesque New York: For managers looking to raise a new fund after the crisis, marketing efforts will need to be significantly different, according to delegates at the recent Opalesque Texas Roundtable. "Most of the smaller managers come to the whole fund-raising and marketing

  3. Cohen's private investments deliver strong 7.5% gain in Q1[more]

    From Reuters.com: Billionaire Steven A. Cohen's investments gained 7.5 percent in the first three months of 2015, according to a person familiar with the numbers, helping the former hedge fund manager extend his string of market-beating returns. Cohen's Point72 Asset Management, which invests

  4. Hedge fund launches fall again, $1bn funds found to outperform even smaller hedge funds[more]

    Komfie Manalo, Opalesque Asia: The number of new hedge fund launches fell again in 2014, the third consecutive year of decline, while fund liquidations saw their first drop since 2010, according to the latest HFR Market Microstructure Industry Report released by industry data provider HFR. Acc

  5. Opalesque Exclusive: Cyber security and hedge funds: increased awareness, Part One[more]

    Benedicte Gravrand, Opalesque Geneva: If you look at the recent cybersecurity news from Bloomberg, hackers are frightening the people: they steal photos and threaten to expose them, they can break into ATMs, they ha

 

banner