Scotia Capital launches hedge fund index

Date: Wednesday, March 1, 2006
Author: Advisor.ca

Scotia Capital announced the launch of the Scotia Capital Canadian Hedge Fund Performance Index on Wednesday at the company's Canadian Hedge Funds forum, being held in Zurich, Switzerland.

"The Canadian hedge fund industry has now reached a size that warrants an index," says Mike Durland, managing director and co-head of capital markets at Scotia Capital. "Scotia Capital is proud to be at the forefront of this exciting new industry by launching the very first Canadian focused hedge fund index."

The monthly snapshot, calculated on both an equal and asset-weighted basis, tracks funds managed by Canadian based advisors with a minimum of $15 million in assets under management and an audited 12 month track record. The company says the Canadian hedge fund industry returned strong numbers compared to their foreign counterparts in recent months, thanks to higher commodity prices in 2005.