Equity funds cool off in March

After two positive months to start the year, South African funds recorded their first negative return in March on the back of a weak domestic equity market.

The HedgeNews Africa South African Single-Manager Composite dipped a median 0.07% to sit 1.44% higher for the quarter, while the HedgeNews Africa Single-Manager Composite, which includes Africa-focused funds, added 0.03% to sit 2.03% higher at the end of March.

Fixed income funds continued their positive momentum, adding 1.36% in March and 4.75% for the quarter.

Amongst equity strategies, market neutral outperformed long/short, with the HedgeNews Africa Market Neutral and Quantitative Index adding 0.23% for the month (1.05% for the quarter) while the HedgeNews Africa Long/Short Equity Index declined 1.18% (down 0.11% for the quarter).

Multi-strategy funds found the going tough in March, dipping 0.62% to sit 1.14% higher for the quarter.

Africa-focused portfolios had another solid month, gaining 0.94% in March and 7.66% for the quarter. Copyright. HedgeNews Africa – April 2018.

  Median Mean
South African Medians Mar-18 YTD-2018 Mar-18 YTD-2018
Long/Short Equity -1.18% -0.11% -1.31% -0.62%
Market Neutral & Quantitative Strategies 0.23% 1.05% 0.12% 0.98%
Single Manager Multi-Strategy -0.62% 1.14% -1.03% -1.41%
Fixed Income 1.36% 4.75% 1.62% 5.42%
Event Driven 0.88% 2.71% 0.88% 2.71%
         
African Medians        
Pan-Africa / AME 0.94% 7.66% 0.67% 7.17%
         
SA Single-Manager Composite -0.07% 1.44% -0.53% 0.33%
HedgeNews Africa Single-Manager Composite 0.03% 2.03% -0.32% 1.82%