Wed, Feb 22, 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. People - Kuwait wealth fund head Al Saad said to step down after 14 years[more]

    From Bloomberg.com: Kuwait Investment Authority is set to name Farouk Bastaki as managing director, replacing Bader Al Saad who ran the world's fifth-largest sovereign wealth fund for 14 years, a person familiar with the matter said. The KIA, as the fund is known, is finalizing the appointment, said

  2. Manager Profile - Eddie Lampert: a painful entanglement with Sears[more]

    From Moneyweek.com: "In the long run we are all dead." Lex in the Financial Times reached for the famous quote from John Maynard Keynes in January when, after a long and unforgiving decline, the clock finally appeared to be running out on Sears, the iconic US department store group. Yet the group's

  3. Investing - Hedge funds quit Aberdeen shorts as shares begin to recover, Hedge funds' next big short: U.S. malls, O'Connor fund owns 9.5% of Protalix Biotherapeutics, U.S. hedge fund takes position in Macau hotel The 13[more]

    Hedge funds quit Aberdeen shorts as shares begin to recover From Investmentweek.co.uk: The last two hedge funds to short Aberdeen Asset Management have removed their positions, as the fund group's shares begin to show signs of recovery after a difficult few years. According to the Financ

  4. Latin America, high yields and Asia Pacific strategies dominate hedge fund returns in January[more]

    Komfie Manalo, Opalesque Asia: Latin America (+7.04%), high yield (5.63%), and Asia-Pacific (+5.06%) strategies dominated hedge fund performance in January, data provider Hennesee Fund Research said. The bottom three strategies for the mont

  5. Investing - Hedge funds loading up on this dividend stock, The biggest hedge funds have been piling into bank stocks[more]

    Hedge funds loading up on this dividend stock From Incomeinvestors.com: Hedge funds are backing up the truck on Cameco Corp stock. Billionaire Jim Simons owns 389,000 shares. Other Wall Street titans - including Ray Dalio, Ken Griffin, and Chuck Royce - have been quietly building positio