South African hedge funds did well to protect capital in a tough July, with the HedgeNews Africa South African Single-Manager Composite adding a median 0.22% to sit 4.96% higher year to date.
The broader HedgeNews Africa Single-Manager Composite, which includes Africa and global funds, notched up a median gain of 0.04% to sit 4.68% in the green year to date.
By comparison, the FTSE/JSE All Share Index declined 2.37% (up 9.55% year to date) and the South African All Bond Index dipped 0.74% (up 6.76% year to date).
Fixed income funds continued to make solid gains, gaining a median 0.59% in July to sit 5.57% higher year to date.
Multi-strategy funds delivered a broad range of returns for the month, adding a median 0.49% to sit 6.26% higher year to date, while market neutral and quantitative funds added 0.04% to sit 4.25% in the green year to date.
Long/short equity funds were split in July with half making gains, seeing the category dip a median 0.13% to sit 7.19% higher on the year.
Africa-focused funds had a difficult month as indices dropped, declining a median 2.78% to sit 0.68% under water year to date. Copyright. HedgeNews Africa – August 2019.
|South African Medians||Jul-19||YTD||Jul-19||YTD|
|Market Neutral & Quantitative Strategies||0.04%||4.25%||0.01%||4.09%|
|Single Manager Multi-Strategy||0.49%||6.26%||0.03%||6.21%|
|Event Driven (credit)||0.89%||5.59%||0.89%||5.59%|
|Pan-Africa / AME||-2.78%||-0.68%||-2.80%||-0.66%|
|SA Single-Manager Composite||0.22%||4.96%||0.06%||6.03%|
|HedgeNews Africa Single-Manager Composite||0.04%||4.68%||-0.24%||5.12%|