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.
|South African Medians||Mar-18||YTD-2018||Mar-18||YTD-2018|
|Market Neutral & Quantitative Strategies||0.23%||1.05%||0.12%||0.98%|
|Single Manager Multi-Strategy||-0.62%||1.14%||-1.03%||-1.41%|
|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%|