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Scotia Capital Canadian HF index finishes December +1.81% / -0.25% (-15.94% / -22.64% for 2008)


Date: Monday, January 19, 2009
Author: Scotia Capital

The Scotia Capital Canadian Hedge Fund Performance Index finished December 2008 up 1.81% on an asset weighted basis and down 0.25% on an equal weighted basis. The index outperformed both the TSX Composite and the S&P 500 index (in CAD) on both an asset weighted basis and equal weighted basis.

Most global markets rallied in December as investors became hopeful that government stimulus measures could limit the damage from the credit issues that dominated 2008. The US increased steps to begin an economic recovery by introducing capital injections to the auto industry, continuing to add capital to financial institutions, and cutting the federal funds overnight interest rate to near zero percent. In Canada, the negative impact of the continued slide in Energy prices contributed significantly to the -3.1% return for the TSX. Canadian hedge fund managers generated relatively solid results over the month as most managers were able to successfully insulate themselves from falling Energy prices.

Link: http://www.scmonline.com/analytics/cgi-bin/hedgefund/entry_screen.cgi