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Scotia Capital Canadian Hedge Fund Performance Index down in August


Date: Thursday, September 18, 2008
Author: Scotia Capital

The Scotia Capital Canadian Hedge Fund Performance Index finished August 2008 down 2.99% on an asset weighted basis and down 1.89% on an equal weighted basis. The index underperformed both the TSX Composite and the S&P 500 index on both an asset weighted basis and equal weighted basis.

In August, the TSX Composite finished up 1.31% largely due to gains in most TSX Composite sectors. Continuing concern over the global economic slowdown and the strong appreciation of the US dollar throughout August maintained downward pressure on commodity prices. Lower commodity prices notwithstanding, the Energy sector was still able to gain 4.4% on speculation that Hurricane Gustav would produce an extensive amount of damage to drilling operations off the Gulf Coast.

Full report: http://www.scmonline.com/analytics/reports/SCHFPI_monthly.pdf