Thu, Jun 29, 2017
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 finishes May down -0.86% (asset weighted) (+3.47% YTD)

Thursday, June 17, 2010
Opalesque Industry Updates - The Scotia Capital Canadian Hedge Fund Performance Index finished May 2010 down 0.86% on an asset weighted basis and down 2.02% on an equal weighted basis. Despite the monthly decline, the Index’s YTD performance remained in solidly positive territory: 3.47% and 1.77%, respectively.

The Index strongly outperformed broader equities in May, and also outperformed broader hedge fund indices on both an asset weighted and equal weighted basis. Global capital markets experienced sharp volatility during the month of May. Ongoing concerns over European sovereign debt and nervousness over the potential for further contagion were felt across markets. Equity markets dropped in all regions, with some indices posting double-digit monthly declines, notably the MSCI Europe and Nikkei. In the US, all ten sectors of the S&P 500 contributed to its monthly drop of -8.20%, despite some positive macroeconomic announcements.

In Canada, the S&P/TSX’s -3.67% was driven primarily by declines in the info tech, financials and energy sectors. In FX, the USD appreciated versus the EUR by more than 7%, as investors sold off the EUR. The USD also appreciated versus the GBP and CAD, though depreciated moderately against the JPY. Investor concern about global economic recovery and the potential for a double dip recession was further expressed through a deep sell off of oil (-14.14%), and a flight to quality into the relative safety of government bonds.

Canadian hedge fund managers outperformed global peers in aggregate in May. There was wide dispersion in performance among managers, as well as within strategies, with some managers managing to capture strong monthly results despite a challenging trading environment. Hedge fund managers remain defensively positioned and cautious, maintaining low net exposures in an environment of ongoing uncertainty.

Full performance Chart available: 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. Legal - Bond market concerns could scuttle Paulson's Fannie-Freddie plan[more]

    From Bloomberg.com: A hedge fund proposal for freeing Fannie Mae and Freddie Mac from U.S. control is poised to face stiff opposition from investors who say it risks wrecking the mortgage-bond market. The Moelis & Co. blueprint, which firms including Paulson & Co. and Blackstone Group LP sponsored,

  2. Other Voices: Are your pricing policies and procedures for less liquid instruments adequate?[more]

    Komfie Manalo, Opalesque Asia: The unrelated position mismarking incidents that quickly precipitated the closures of both Visium Asset Management and Marinus Capital have been recent focal points for market participants, but regulatory scrutiny of valuation choices for less liquid instruments is

  3. FinTech - AI hedge fund Numerai now live on Ethereum, Cryptocurrency hedge funds generate huge returns as bitcoin surges[more]

    AI hedge fund Numerai now live on Ethereum From Cryptoninjas.net: Back in February, Numerai announced numeraire (NMR), a cryptographic token to incentivize a new kind of hedge fund built by a network of data scientists. Earlier today, the Numeraire smart contract was officially deployed

  4. Investing - Advisors slash hedge fund positions, Theravance Biopharma is a top pick of investment guru Seth Klarman, As asset management industry grows a search for new revenue streams[more]

    Advisors slash hedge fund positions From Barrons.com: Financial advisors have cut wealthy clients' exposure to hedge funds by up to one third over the past 12 months, The Financial Times reports. Advisor firms in the FT's annual top-300 ranking have reduced their hedge fund allocation to

  5. Investing - U.S. hedge fund in anonymous bet against Tesco shares, Hedge funds made repeated attempts to invest in Veneto banks, Steve Cohen's Point72 takes stake in struggling electronics retailer Conn's, Hedge fund Excalibur bets Riksbank will tighten by end of year[more]

    U.S. hedge fund in anonymous bet against Tesco shares From FT.com: A $20bn New York hedge fund is using an offshore shell company to anonymously bet against the shares of the UK supermarket Tesco, raising fresh questions over the efficacy of European short selling disclosure rules.