Awards

Awards 2019

Industry celebrates at HedgeNews Africa awards

The Fairtree Assegai Equity Long Short SNN QI Hedge Fund took home the prestigious Fund of the Year trophy at the HedgeNews Africa Awards 2019, celebrated at a gala dinner in Cape Town last night (February 20).

Fairtree Assegai, managed by Stephen Brown, generated an exemplary return of 45.49% on a Sharpe ratio of 1.9, making it the top-performing fund across all hedge fund categories for calendar-year 2019.

In the long/short equity category, the Anchor Accelerator SNN QI Hedge Fund, managed by Damon Hoff and Liam Hechter, received the top honours, with a return of 31.42% and a Sharpe ratio of 2.57, in a year when South African equities added around 12%.

The X-Chequer SNN Diplo QI Hedge Fund, managed by Werner and Eugene Prinsloo, was a clear winner in the market-neutral and quantitative category, generating a calendar-year gain of 18.04% and Sharpe ratio of 1.73.

Amongst fixed income funds, the Southchester Smart Escalator Prescient QI Hedge Fund put forward a risk-adjusted return that no other competitor could match for the second consecutive year, gaining 12.43% on a Sharpe of 2.61.

In the multi-strategy category, the Fairtree Wild Fig Multi Strategy SNN QI Hedge Fund emerged victorious with a gain of 25.15% and Sharpe of 1.98.

The property-focused Catalyst Alpha Prescient QI Hedge Fund was the winner amongst specialist strategies, gaining 10.87% on a 1.26 Sharpe.

Double honours were given in the Pan Africa category for 2019, with a trophy each to the equity-focused Gondo Visio Metsi Fund (20.22% return, 2.06 Sharpe) and the Enko Africa Debt Fund (25.07% return, 10.59 Sharpe).

The New Fund of the Year award, which covers funds launched within the past 12-23 months, went to the Trinomial RCIS Vega QI Hedge Fund, managed by Dr Linda Smith, with an impressive net gain of 11.07% and a Sharpe of 2.35.

The trophy for best Fund of Funds in 2019 went to Momentum RCIS ZAR Diversified QI Fund of Funds, with a net gain of 16.5% and Sharpe of 2.8.

In the category of best performance over five years, Fairtree Assegai was awarded its second trophy of the night (annualised return 20.25%, Sharpe 0.77), together with dual winner Acumen AcuityOne SNN Retail Hedge Fund (annualised return 13.94%, Sharpe 1.04).

For best performance by a single manager over 10 years, double honours were also awarded – to the Peregrine Capital High Growth H4 QI Hedge Fund (annualised return 18.08%, Sharpe 1.59) and the Polar Star SNN QI Hedge Fund (annualised return 19.2%, Sharpe 0.95).

In the long-term Fund of Funds categories, Alexander Forbes Investments Stable QI Hedge Fund of Funds was victorious over five years (8.25% annualised return, 0.92 Sharpe) while the Old Mutual Multi-Managers Long Short Equity FoHF triumphed over 10 years (10.4% annualised return, 0.81 Sharpe).

Now in their 11th year, the Awards measure the best risk-adjusted returns of funds across 13 different categories. They are based on monthly data submitted to the HedgeNews Africa database, which includes South African hedge funds as well as other pioneering strategies applied across the broader African markets.

They are based on an established methodology and independently verified data submitted to HedgeNews Africa, the region’s leading independent publisher focused on the hedge fund and alternative asset management industries.

“South African hedge funds have again shown their ability to generate strong risk-adjusted returns in varying market conditions, making them worthy of investor attention in an environment of heightened risks,” notes Gwyneth Roberts, the publisher of HedgeNews Africa.

In total, 38 nominations were given across 13 categories, with the one-year awards ultimately going to those funds with the top return provided their Sharpe ratio was within 25% of the top Sharpe amongst the nominees – a method to appraise consistency of returns.

Attended by the industry’s leading fund managers and investors, the annual awards were hosted in partnership with top industry service providers, namely Investec, RMB, Absa Capital, Legae Peresec, Realfin and SANNE.

Final nominations:

Long/short Equity
36ONE SNN QI Hedge Fund
36ONE SNN Retail Hedge Fund
Anchor Accelerator SNN QI Hedge Fund
Fairtree Assegai Equity Long Short SNN QI Hedge Fund
Senqu Worldwide Flexible Long Short Prescient RI Hedge Fund

Market Neutral and Quantitative
Peregrine Capital Pure Hedge H4 QI Hedge Fund
Prescient Wealth Market Neutral QI Hedge Fund
X-Chequer SNN Diplo QI Hedge Fund
X-Chequer SNN Market Neutral QI Hedge Fund

Multi-Strategy
Blue Quadrant Capital Growth Prescient RI Fund
Fairtree Wild Fig Multi Strategy SNN QI Hedge Fund
Fairtree Woodland Multi Strategy SNN QI Hedge Fund
Obsidian SCI Multi Asset Retail Hedge Fund

Fixed Income
Acumen AcuityOne SNN Retail Hedge Fund
Matrix NCIS Fixed Income Retail Hedge Fund
Southchester Smart Escalator Prescient QI Hedge Fund
Terebinth SNN FI Macro Retail Hedge Fund

Specialist
Catalyst Alpha Prescient QI Hedge Fund
Chrysalis Credit Arbitrage Fund
Investec Specialist Investments SA Credit Co-Investment QI Hedge Fund

Pan-Africa
Enko Africa Debt Fund
Gondo Visio Metsi Fund
Old Mutual African Frontiers Fund
Optis African Frontiers Fund

Fund of Funds
AF Investments Focus QI Hedge Fund of Funds
AF Investments Moderate QI Hedge Fund of Funds
Momentum RCIS Multi Managed ZAR Equity Hedge QI Hedge Fund
Momentum RCIS ZAR Diversified QI Fund of Funds

Five-Year (Single-Manager)
Acumen AcuityOne SNN Retail Hedge Fund
Catalyst Alpha Prescient QI Hedge Fund
Fairtree Assegai Equity Long Short SNN QI Hedge Fund
Terebinth SNN FI Macro Retail Hedge Fund

Ten-Year (Single-Manager)
Acumen AcuityOne SNN Retail Hedge Fund
Catalyst Alpha Prescient QI Hedge Fund
Peregrine Capital High Growth H4 QI Hedge Fund
Polar Star SNN QI Hedge Fund

Five-Year (Fund of Funds)
AF Investments Moderate QI Hedge Fund of Funds
AF Investments Stable QI Hedge Fund of Funds
TriAlpha SNN Enhanced Fixed Income QI FoHF

Ten-Year (Fund of Funds)
AF Investments Performance QI Hedge Fund of Funds
Citadel Multi-Strategy H4 QI Hedge Fund
Old Mutual Multi-Managers Long Short Equity FoHF

New Fund of the Year
Rozendal Worldwide Flexible Prescient QI Hedge Fund
STANLIB Multi-Manager NCIS Private Assets Qualified Hedge Fund
Trinomial RCIS Vega QI Hedge Fund

Fund of the Year
Acumen AcuityOne SNN Retail Hedge Fund
Anchor Accelerator SNN QI Hedge Fund
Fairtree Assegai Equity Long Short SNN QI Hedge Fund
Fairtree Wild Fig Multi Strategy SNN QI Hedge Fund
X-Chequer SNN Diplo QI Hedge Fund

Awards Methodology

Now in their 11th year, the Awards are based on an established quantitative methodology that gauges risk-adjusted returns.

The awards, based on calendar-year performance, will go to funds with the highest return in their categories, provided their Sharpe ratios are within 25% of the top Sharpes among the nominees in each category. Exceptions are made in the case of categories that combine different strategy areas, where other quantitative criteria may need to be applied.

To qualify for a nomination, funds must average a minimum of $10 million, or R80 million, in assets under management in that strategy throughout the calendar year (in fund structures plus associated segregated mandates).

Exceptions are made in the new fund category, which allows for lower AUMs, and considers funds with a track record of 12-23 months (with the award based on calendar-year returns) and the longer-term awards, for which higher minimums apply.

Funds submitting their monthly returns to our database are automatically considered for the Awards. New funds can submit data to data@hedgenewsafrica.com before the end of November.

Data used in deciding the awards will be independently examined by eComply Consultants to ensure consistency and accuracy.

Awards categories include:

•    Long/short equity
•    Market neutral and quantitative
•    Fixed income
•    Multi-strategy
•    Specialist strategies
•    Pan Africa
•    Fund of hedge funds
•    Five-year performance
•    10-year performance
•    New fund of the year
•    Fund of the year

Attendance

To book your table at the 2019 Awards please email events@hedgenewsafrica.com, or alternatively, download the booking form here.

• Table of ten: R38,000 ex vat / US$3,150.
• Single ticket: R3,800 ex vat / US$315.

Tables are limited so book early to avoid disappointment.