Sat, Jun 23, 2018
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. Paper: The performance of stocks actively pitched by hedge funds[more]

    Using a novel dataset drawn from investment conferences from 2008 to 2013, I show that hedge funds take advantage of the publicity of these conferences to strategically release their book information to drive market demand. Specifically, hedge funds sell pitched stocks after the conferences to ta

  2. North America - US fundraising for special purpose acquisition vehicles hits record this year[more]

    From AFR.com: Special purpose acquisition vehicles (spacs) are hitting the US market at the fastest rate on record, attracting the likes of Goldman Sachs and hedge fund investor Daniel Loeb for the two largest such deals in 2018. Spacs have raised $US4.5bn so far in 2018, the largest amount fo

  3. Investing - Man Group and AQR try to take aim at private equity industry, Hedge funds poised to be winners in AT&T-Time Warner deal[more]

    Man Group and AQR try to take aim at private equity industry From FT.com: The popularity of private equity investments has prompted asset managers such as Man Group and AQR to devise strategies that aim to replicate PE returns but at a much lower cost to investors. Both companies a

  4. News Briefs: David Stemerman's hedge fund holdings shrank before his run for governor, nvestment manager TSW triggers succession plan, Alan Howard joins Peter Thiel investing in Cologne-based fintech startup[more]

    David Stemerman's hedge fund holdings shrank before his run for governor But the U.S. holdings of Stemerman's Greenwich hedge fund, Conatus Capital, shrank from $2.6 billion at the apex to just over $1 billion before he announced his move into politics. (Hartford Courant) Inv

  5. British Empire: Pershing's 23% discount 'unsustainable'[more]

    From Citywire: The wide discount on Pershing Square Holdings (PSH) is 'unsustainable' and puts star hedge fund manager Bill Ackman under pressure, says British Empire (BTEM). Pershing is the third largest holding in the £850 million British Empire trust, managed by Joe Bauernfreund, which sp