South African hedge funds ended the year on a positive note with all strategies delivering positive median returns in December, while the HedgeNews Africa South African Single-Manager Composite added a median 0.8% for the month to end the year 5.18% higher. This compares to the FTSE/JSE All Share Index’s December gain of 4.25% and 2018 performance of -8.53%, while the All Bond Index added 0.64% in December to leave it 7.69% higher on the year.
The HedgeNews Africa Single-Manager Composite, which includes Africa- and global-focused portfolios, gained a median 0.55% for the month to record a 2018 gain of 2.1% with many African markets in the red for the year.
Multi-strategy funds led the way in December, gaining a median 1.4% to record a return of 4.14% for the year.
After three consecutive negative months, long/short funds delivered a median 0.76% in December to sit 1.79% lower for the year.
Market-neutral funds were steady in December, returning a median 0.68% and a 2018 gain of 6.18%.
Fixed income hedge funds had another good year, gaining 10.73% after adding a median 0.64% in December. Copyright. HedgeNews Africa – January 2019.
|South African Medians||Dec-18||YTD-2018||Dec-18||YTD-2018|
|Market Neutral & Quantitative Strategies||0.68%||6.18%||0.70%||6.50%|
|Single Manager Multi-Strategy||1.40%||4.14%||0.86%||0.34%|
|Event Driven (credit)||1.36%||13.51%||1.36%||12.26%|
|Pan-Africa / AME||-0.61%||-8.85%||-0.84%||-9.70%|
|SA Single-Manager Composite||0.80%||5.18%||0.89%||2.43%|
|HedgeNews Africa Single-Manager Composite||0.55%||2.10%||0.65%||-0.49%|