Key Takeaways
- • The Scotiabank Canadian Hedge Fund Index ended March 2013 up 1.26 per cent on an asset-weighted basis.
- • On an equal-weighted basis, the index gained 0.39 per cent in March 2013.
- • The index covers open and closed Canadian-domiciled hedge funds with minimum AUM of CAD15m and at least a 12-month return track record.
Summary
The Scotiabank Canadian Hedge Fund Index ended March 2013 up 1.26 per cent on an asset-weighted basis and gained 0.39 per cent on an equal-weighted basis, according to the index publication reported by Hedgeweek.
The index is designed to provide a comprehensive overview of the Canadian hedge fund universe. Returns are calculated using both equal weighting and asset-based weighting of the funds, allowing the asset-weighted figure to reflect the influence of larger managers while the equal-weighted figure captures the performance of the typical fund in the universe.
The index includes both open and closed funds that meet two eligibility criteria: a minimum AUM of CAD15 million and at least a 12-month track record of returns. All funds must be managed by Canadian-domiciled hedge fund managers.
Scotiabank publishes the index monthly as part of its Prime Services offering, which is intended to help investors track the performance of Canadian hedge funds and alternative mutual funds. The gap between the two weighted returns in March 2013 indicates that larger funds outperformed smaller ones during the month.
The index is designed to provide a comprehensive overview of the Canadian hedge fund universe. Returns are calculated using both equal weighting and asset-based weighting of the funds, allowing the asset-weighted figure to reflect the influence of larger managers while the equal-weighted figure captures the performance of the typical fund in the universe.
The index includes both open and closed funds that meet two eligibility criteria: a minimum AUM of CAD15 million and at least a 12-month track record of returns. All funds must be managed by Canadian-domiciled hedge fund managers.
Scotiabank publishes the index monthly as part of its Prime Services offering, which is intended to help investors track the performance of Canadian hedge funds and alternative mutual funds. The gap between the two weighted returns in March 2013 indicates that larger funds outperformed smaller ones during the month.
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