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
Median | Mean | |||
South African Medians | May-19 | YTD | May-19 | YTD |
Long/Short Equity | -2.00% | 6.59% | -1.91% | 6.06% |
Market Neutral & Quantitative Strategies | -0.52% | 3.73% | -0.61% | 3.89% |
Single Manager Multi-Strategy | -0.55% | 4.79% | -1.21% | 4.66% |
Fixed Income | 0.42% | 3.28% | -0.02% | 2.87% |
Event Driven (credit) | 0.73% | 3.83% | 0.73% | 3.83% |
African Medians | ||||
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% |