Awards 2013

The Kaizen Strategic Opportunities Fund took the prestigious Fund of the Year title at last night’s HedgeNews Africa Awards, presented at a gala dinner held at the Vineyard Hotel in Cape Town.

With an impressive annual return of 56.97% and Sharpe ratio of 5.91, it also secured the South African Multi-strategy Award for risk-adjusted performance, well ahead of its peer group and the broader market for the 2013 calendar year.

Amongst fund of hedge funds, the SYmmETRY Long Short Equity Fund of Hedge Funds also took twin honours, securing the Best Fund of Funds Award based on a 12-month return of 25.16% and Sharpe ratio of 3.43, and also the Long-Term Fund of Funds Award, with a three-year annualised return of 18.72% and Sharpe ratio of 3.01.

Single-manager fund management companies Capricorn Fund Managers and Laurium Capital also garnered double awards for their 2013 performances. The Capricorn Performer Fund took the prize in the highly regarded South African Equity category, gaining 40.56% on a Sharpe ratio of 3.73, while the Capricorn Market Neutral Fund was awarded the South African Market Neutral and Quantitative trophy with a 25.61% 12-month gain and 4.48 Sharpe.

The Laurium Capital Aggressive Long/Short Fund won Best New Fund, delivering 54.15% on a 3.97 Sharpe, while its Chobe Sub Saharan Long Short Fund took the honours in the Pan Africa and MENA (Hedge) category, gaining 27.5% with a Sharpe ratio of 3.07.

Also amongst African strategies, the Kura Africa BMC fund was the winner of the best Pan-Africa and MENA Long/Absolute Return Fund prize, gaining 73.95% on a Sharpe ratio of 3.7.

Elsewhere in an impressive line-up of winners, the Proton Fund took the South African Fixed Income category with a return of 14.64% and Sharpe of 3.22, while the Polar Star Agricultural Commodities Fund won the Specialist Strategies Award, with a return of 41.19% and Sharpe of 1.54.

The Peregrine Capital High Growth Fund earned the trophy for Long-Term Performance – Single Manager based on three-year returns, with a three-year annualised gain of 26.29% and 4.14 Sharpe ratio.

Now in their fifth year, the awards recognise the best risk-adjusted returns of funds in South Africa and the broader Africa region each calendar year, based on an established methodology and independently verified data submitted to the HedgeNews Africa database, the region’s leading independent publisher focused on the hedge fund and alternative asset management industries.

“The winners of the 2013 HedgeNews Africa Awards have again demonstrated that alternative strategies have an important role to play in investor portfolios, with skilled fund managers delivering strong risk-adjusted returns to their investors in a year that was marked by bullish equities markets and a difficult fixed income space,” said Gwyneth Roberts, editor of HedgeNews Africa.

Attended by the industry’s top fund managers and investors, the annual awards are hosted in partnership with leading service providers to the industry, including Investec Prime Broking, RMB Prime Broking, Absa Capital, Deutsche Bank, Peregrine Securities and Bloomberg.

 

Final nominations

Long/short equity
•    36ONE Hedge Fund
•    Capricorn Performer Fund
•    Coronation Presidio Fund
•    Peregrine High Growth Fund
•    Laurium Capital Long/Short Fund

Market neutral and quantitative
•    Capricorn Market Neutral Fund
•    Laurium Market Neutral Fund
•    Mazi Visio Market Neutral Fund
•    Peregrine Capital Pure Hedge

Multi-strategy
•    Blackstar Special Opportunities Fund
•    Fairtree Wild Fig Multi Asset Class Fund
•    Fairtree Woodland Multi Strategy Fund
•    Kaizen Strategic Opportunities Fund

Fixed income
•    AcuityOne Hedge Fund
•    Coronation Granite Fixed Income Fund
•    Fairtree Fixed Income Fund
•    Proton Fund

Specialist
•    Barak Structured Trade Finance Fund
•    Creditsmith Specialised Opportunities Fund
•    Polar Star Agricultural Commodities Fund
•    Westbrooke Capital Management Special Opportunities Fund

Fund of hedge funds
•    Caveo Focus Fund
•    Edge Iconic Portable Alpha Fund
•    Edge Iconic Torero Long/Short Fund
•    Skybound Capital Firecrest Fund
•    SYmmETRY Long Short Equity FoHF

Africa (long/absolute return)
•    Duet Africa Opportunities Fund
•    Kura Africa BMC Fund
•    Kura Africa Fund
•    Steyn Capital Africa Fund
•    Sustainable Capital Nigeria Fund

Africa (hedge)
•    Chobe Sub-Saharan Long Short Fund
•    Enko Opportunity Growth Fund
•    Laurium Capital Zambezi Fund
•    Nubuke Africa Multi-Strategy Fund

Long-term: Single manager
•    Alternative Real Estate Select Opportunity Fund
•    Fairtree Wild Fig Multi Asset Class Fund
•    Kaizen Strategic Opportunities Fund
•    Peregrine Capital High Growth Fund
•    Polar Star Agricultural Commodities Fund

Long-term: Fund of funds
•    27four Alternative Long Short Equity
•    Edge Iconic Torero Long/Short Fund
•    Skybound Capital Firecrest Fund
•    Sygnia All Star FoHF
•    SYmmETRY Long Short Equity FoHF

Best new fund
•    Blackstar Special Opportunities Fund
•    Capricorn Performer Fund
•    Laurium Capital Aggressive Long/Short Fund
•    Sustainable Capital Nigeria Fund
•    Westbrooke Capital Management Special Opportunities Fund

Fund of the year
•    AcuityOne Hedge Fund
•    Capricorn Performer Fund
•    Kaizen Strategic Opportunities Fund
•    Kura Africa BMC Fund
•    Laurium Capital Aggressive Long/Short Fund
•    Polar Star Agricultural Commodities Fund

Awards Methodology

To qualify for a nomination funds must average a minimum of ZAR80 million (USD10 million) in assets under management throughout the calendar year. Exceptions are in the new fund category, which allows for lower assets under management and considers funds with a track record of 12-23 months (with the award being based on calendar-year returns), and the long-term awards, for which higher minimums apply.

Nominations are based on an established quantitative methodology in an effort to judge the best risk-adjusted returns, with the award ultimately going to the fund with the highest return for the 12-month period, provided its Sharpe ratio is within 25% of the top Sharpe of the nominees in the category. Exceptions are made in the case of categories that combine different strategy areas, where other quantitative criteria may need to be applied.

Funds submitting their monthly returns to our database are automatically considered for the awards. New funds can submit data to data@hedgenewsafrica.com.

Data used in deciding the awards will once again be independently examined by eComply Consultants.

  • Provisional nominations will be announced in November.
    •    Final nominations will be announced in January.

Funds submitting their monthly returns to our database are automatically considered for the awards.

New funds can submit data to data@hedgenewsafrica.com.