Sat, Jun 25, 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 Performance Index finished October 2009 up 0.85% on an asset weighted basis and up 0.77% on an equal weighted basis

Tuesday, November 17, 2009
Opalesque Industry Updates - The index outperformed both the TSX Composite and the S&P500, as well as global hedge fund indices, on both an asset weighted and equal weighted basis.

Broader equity markets continued to rally into mid-October but ultimately sold off deeply as investor profit-taking drove a decline to negative month end results. The S&P 500 and the TSX both concluded their seven-month winning streaks. In the US, market participants were wary of the economic outlook and timing of the eventual withdrawal of monetary and fiscal stimuli. Positive earnings results and macro data points were thus unable to support equities through another month end.

In Canada, the reversal in equities was led by technology and financials, with all sectors posting October declines. Commodity equities also dipped as market participants took profits, despite strong advances in underlying commodity prices. Gold, notably, hit a record high mid-month, and energy-related commodities were top October performers against the backdrop of a USD sell off against most major currencies, not including the CAD. Canadian hedge fund managers posted muted aggregate October performance with few outliers. Selective stock-picking on both the long and short side continued to be an important performance contributor. Canadian managers also benefitted from long commodity themes, with mixed success from FX and fixed income trading.

Full performance chart: Source

kb

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. Opalesque Roundup: Hedge funds shrink as liquidations outpace new launches in Q1: hedge fund news, week 27[more]

    In the week ending 17 May, 2016, HFR said hedge fund liquidations declined narrowly to begin 2016 after rising sharply to conclude 2015, as investors positioned f

  2. Europe - Hedge funds keep powder dry over big Brexit bets, Hedge funds sense profit in Europe shock waves after Brexit vote, Soros warns Brexit may cause pound plunge worse than Black Wednesday, After Brexit: What will happen if Britain votes to leave the UK?[more]

    Hedge funds keep powder dry over big Brexit bets From FT.com: Hedge funds are shying away from big bets on Brexit, with many unwilling to risk further losses having already suffered a painful first half of the year. With the outcome of a UK vote on the country’s membership of the Europea

  3. News Briefs - ’Flash Boys’ get green light to launch stock exchange, Pimco says ‘storm is brewing’ in U.S. commercial real estate, Bankers get ready to rumble at Hedge Fund Fight Night, AIMA Australia celebrates 15th anniversary[more]

    ’Flash Boys’ get green light to launch stock exchange In an investing environment ruled by fast, the newest U.S. public stock exchange is banking on slow. Well, slower. IEX Group, which won Securities and Exchange Commission approval on Friday to go head-to-head with the New York Stock E

  4. Blackstone buys minority stake in New York-based credit hedge fund Marathon[more]

    Benedicte Gravrand, Opalesque Geneva: Blackstone Strategic Capital Holdings Fund, a vehicle managed by Blackstone Alternative Asset Management (BAAM), has acquired a passive, minority interest in Marathon Asset Management, for an undisclosed sum. Based in New York,

  5. Global markets fell, hedge funds gain in mid-June on Brexit, Fed rate concerns[more]

    Komfie Manalo, Opalesque Asia: Global financial markets declined through mid-June, as uncertainty associated with the upcoming Brexit referendum and expected U.S. Fed interest rate hike contributed to increases in volatility across asset classes, data provider