SA hedge funds push back in tough June

June was a tough month for South African hedge funds, with the HedgeNews Africa South African Single-Manager Composite declining a median 0.99%, yet still outperforming the JSE All Share Index (-3.49%) and the All Bond Index (-0.95%).

The HedgeNews Africa Single-Manager Composite, which includes Africa-focused portfolios, dipped a median 0.04% for the month, leaving it 4.02% higher year to date.

Market-neutral funds fared better than their long/short equity peers, adding a median 0.59% in June to sit 4.22% higher year to date.

Just a handful of long/short funds added to their year-to-date gains. The category fell by a median 1.22% to sit 1.91% higher for the year.

Fixed income funds were mixed in June with only two-thirds delivering positive returns. The category added a median 0.65% to sit 4.59% in the green for the first half.

Multi-strategy funds had their second negative month for the year, dipping a median 1.37% in June to sit 2.57% higher on the year.

Africa funds enjoyed a strong first half. The HedgeNews Africa Pan-Africa/AME Index delivered a median return of 4.4% to sit 14.33% higher year to date. Copyright. HedgeNews Africa – July 2017

  Median Mean
South African Medians Jun-17 YTD-2017 Jun-17 YTD-2017
Long/Short Equity -1.22% 1.99% -1.54% -0.72%
Market Neutral & Quantitative Strategies 0.59% 4.22% 0.27% 3.12%
Single Manager Multi-Strategy -1.37% 2.57% -1.44% 1.77%
Fixed Income 0.65% 4.59% 0.08% 4.89%
Event Driven 1.12% 6.57% 1.12% 6.27%
African Medians        
Pan-Africa / AME 4.40% 14.33% 5.45% 15.01%
SA Single-Manager Composite -0.99% 2.85% -0.92% 1.42%
HedgeNews Africa Single-Manager Composite -0.04% 4.02% 0.67% 4.78%