The HedgeNews Africa South African Single-Manager Composite dipped a median 0.84% in May to sit 3.98% higher year to date, while global markets were battered as a global risk-off move weighed on equities.
The broader HedgeNews Africa Single-Manager Composite, which includes Africa-focused portfolios, declined a median 1.25% to sit 3.78% higher year to date.
Fixed income was the top-performing strategy for the month, gaining a median 0.42% to sit 3.28% higher year to date.
Long/short equity funds had a difficult month, yet the category limited index losses. The HedgeNews Africa Long/Short Equity Index declined a median 2% to sit 6.59% higher year to date.
Market-neutral and quantitative funds fared only slightly better than their long/short peers, dipping a median 0.52% to sit 3.73% higher year to date, while multi-stratrgy funds declined by a median 0.55% to sit 4.79% in the green year to date.
Africa-focused equity funds ended the month in the red, following general weakness across most African markets. The HedgeNews Africa Pan-Africa/AME Index declined a median 3.67% to sit 1.24% higher year to date. Copyright. HedgeNews Africa – June 2019
|South African Medians||May-19||YTD||May-19||YTD|
|Market Neutral & Quantitative Strategies||-0.52%||3.73%||-0.61%||3.89%|
|Single Manager Multi-Strategy||-0.55%||4.79%||-1.21%||4.66%|
|Event Driven (credit)||0.73%||3.83%||0.73%||3.83%|
|Pan-Africa / AME||-3.67%||1.24%||-3.81%||1.13%|
|SA Single-Manager Composite||-0.84%||3.98%||-1.11%||4.79%|
|HedgeNews Africa Single-Manager Composite||-1.25%||3.78%||-1.53%||4.14%|