Sat, Mar 28, 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 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. 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. Private credit comes into focus for investors[more]

    Bailey McCann, Opalesque New York: As investors look for a way out of the low yield/no yield environment, private credit is becoming an increasingly attractive asset class, according to a white paper from Bayshore Capital Advisors. Private credit has grown steadily since the financial crisis as

  3. M&A - Hedge funds no longer attractive targets for banks, reinsurers, Blackstone buys stake in Christopher Pucillo’s Solus event-driven hedge fund[more]

    Hedge funds no longer attractive targets for banks, reinsurers From Institutionalinvestor.com: Swiss RE, the world’s second-largest reinsurer, is looking to sell its 15 percent stake in Jersey, Channel Islands–based hedge fund firm Brevan Howard Asset Management. Morgan Stanley reported

  4. Opalesque Radio: Threadneedle expects continuing equity volatility this year[more]

    Benedicte Gravrand, Opalesque Geneva: Investors should expect more volatility, which is signaling a "slow moving" top to the market, KKM Financial’s founder and CEO Jeff Kilburg told CNBC on Monday. And this volatility is going

  5. Hedge funds show strong performance of 2.52% so far in 2015[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry got off to a strong start in 2015 "completely unmindful" of the poor performance last year, according to data provider Preqin. According to Preqin, following a year which saw the average he

 

banner