Awards 2014

The Peregrine High Growth Fund won the coveted Fund of the Year award at the HedgeNews Africa Awards, presented at a gala dinner held at Cape Town’s Vineyard Hotel on February 19th, 2015.

Managed by Peregrine Capital in Johannesburg, the fund triumphed over some strong competition to take the year’s top honours with a return of 32.13% and Sharpe ratio of 3.2.

The fund, one of the largest and longest-running hedge funds on the continent, also took the trophy for Five-Year Performance (Single Manager), with an annualised return of 25.41% and Sharpe ratio of 3.41.

The same investment team was also victorious in the market neutral and quantitative category, where its Peregrine Pure Hedge Fund took the honours, with a return of 18.43% on a Sharpe ratio of 3.28.

The Laurium Aggressive Long Short Fund was the victor in the prestigious long/short equity category, with a return of 31.28% and Sharpe of 4.42.

Laurium Capital also took a second trophy on the night, winning the Pan Africa and MENA (hedge) category with its Laurium Chobe Sub-Saharan Long/Short Fund, which gained 10.68% (in US dollars) with a Sharpe of 1.92.

Steyn Capital was the victor in the Pan Africa and MENA (long/absolute return) category, with its Steyn Capital Africa Fund gaining 6.05% on a Sharpe of 0.63 in US dollars.

Amongst multi-strategy funds, the Matrix Multi-Strategy Fund delivered the best risk-adjusted return for the calendar year, securing the top honours with a 18.54% return and Sharpe ratio of 2.04.

KADD Capital won the trophy for best fixed income fund, gaining 28.66% with a Sharpe of 3.63 for the year.

In specialist strategies, the Polar Star Agricultural Commodities Fund won the award for the fourth year running, with a return of 39.89 and Sharpe of 2.

The Kaizen Strategic Opportunities Fund was the winner in the highly regarded three-year single-manager category, with a net annualised return of 37.1% and Sharpe of 2.29.

Amongst multi-manager portfolios, the Caveo Performance Portfolio took the honours in the multi-strategy category with a return of 13.72% over the 12-month period and a Sharpe ratio of 2.62. The Blue Ink Fixed Income Arbitrage Fund was the winner amongst fixed-income focused portfolios, gaining 14.32% with a Sharpe of 2.31.

Elsewhere in fund of funds, the SYmmETRY Long/Short Equity Fund of Hedge Funds was the victor for long-term performance over both three and five years, with an annualised gain of 19% over three years (3.08 Sharpe) and 16.04% over five (2.47 Sharpe).

Amongst new funds, judged over 12 months for funds with a track record of between 12 and 23 months, the AG Capital Prosperitas Fund was the winner, generating a return of 23.82 and Sharpe ratio of 2.46.

Now in their sixth 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 2014 HedgeNews Africa Awards produced stellar returns for their investors on a risk-adjusted basis, reflecting the strong pool of talent that is at work in the space,” said Gwyneth Roberts, editor of HedgeNews Africa. “This year we introduced a performance award for funds over five years, reflecting the industry’s growing track record, which we feel is particularly relevant as hedge funds prepare to enter a regulated environment.”

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

 

Final Nominations

Long/Short Equity
Fairtree Assegai Long Short Equity Fund
Laurium Aggressive Long/Short Fund
Peregrine High Growth Fund

Winner: Laurium Aggressive Long/Short Fund

Market Neutral and Quantitative
Laurium Market Neutral Fund
Peregrine Pure Hedge Fund
X-Chequer Market Neutral Fund

Winner: Peregrine Pure Hedge Fund

Multi-Strategy
Fairtree Wild Fig Multi Asset Class Fund
Kaizen Strategic Opportunities Fund
Matrix Multi-Strategy Fund

Winner: Matrix Multi-Strategy Fund

Fixed Income
AcuityOne Hedge Fund
Matrix Fixed Income Fund
Validus Fixed Income Fund

Winner: Validus Fixed Income Fund

Specialist Strategies
Alternative Real Estate Select Opportunity Fund
Catalyst Alpha En Commandite Partnership
Creditsmith Specialised Opportunities Fund
Polar Star Agricultural Commodities Fund

Winner: Polar Star Agricultural Commodities Fund

Pan-Africa and MENA (Long/Absolute Return)
Coronation Africa Frontiers Fund
Steyn Capital Africa Fund
Sustainable Capital Africa Consumer Fund

Winner: Steyn Capital Africa Fund

Pan-Africa and MENA (Hedge)
Laurium Chobe Sub-Saharan Long Short Fund
Laurium Okavango African Long Short Fund
SSCG Africa Opportunities Master Fund

Winner: Laurium Chobe Sub-Saharan Long Short Fund

Fund of Hedge Funds – Multi-Strategy
Alpha Equity Hedge
Blue Ink Commodity Arbitrage Fund
Caveo Performance Portfolio
Edge Iconic Matador II Fund
Rosebank Wealth Group Long/Short Hedged Equity Fund

Winner: Caveo Performance Portfolio

Fund of Hedge Funds – Fixed Income
Blue Ink Fixed Income Arbitrage Fund
Edge Iconic Picador Fixed Income Fund
TriAlpha Enhanced Fixed Income Hedge Fund

Winner: Blue Ink Fixed Income Arbitrage Fund

Three Year (Single-manager)
Alternative Real Estate Select Opportunity Fund
Fairtree Wild Fig Multi Asset Class Fund
Kaizen Strategic Opportunities Fund
Peregrine High Growth Fund
Polar Star Agricultural Commodities Fund

Winner: Kaizen Strategic Opportunities Fund

Five Year (Single-manager)
AcuityOne Hedge Fund
Alternative Real Estate Select Opportunity Fund
Coronation Presidio Fund
Peregrine High Growth Fund
Polar Star Agricultural Commodities Fund

Winner: Peregrine High Growth Fund

Three Year (Fund of funds)
Caveo Focus Fund
Edge Iconic Torero Long/Short Fund
SYmmETRY Long Short Equity FoHF

Winner: SYmmETRY Long Short Equity FoHF

Five Year (Fund of funds)
Caveo Performance Portfolio
Sygnia All Star FoHF
SYmmETRY Long Short Equity FoHF

Winner: SYmmETRY Long Short Equity FoHF

New Fund of the Year
AG Capital Prosperitas Fund
Anchor Long/Short Hedge Fund
SSCG Africa Opportunities Master Fund
Steyn Capital SA Large Cap Fund

Winner: AG Capital Prosperitas Fund

Fund of the Year
Kaizen Strategic Opportunities Fund
Laurium Aggressive Long Short Fund
Peregrine High Growth Fund
Peregrine Pure Hedge Fund
Polar Star Agricultural Commodities Fund

Winner: Peregrine High Growth Fund

 

Awards Methodology

To qualify for a nomination funds must average a minimum of ZAR80 million (US$7.4 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.