Hedge funds did well to limit losses in a tough August, with the HedgeNews Africa South African Single-Manager Composite dipping a median 0.1% to sit 4.86% higher for the year.
The broader HedgeNews Africa Single-Manager Composite, which includes Africa- and global-focused mandates, declined a median 0.14% to settle 4.54% in the green year to date.
By comparison, the FTSE/JSE All Share Index fell 2.44% and the South African All Bond Index added 0.95%. The MSCI World Index declined 2.24% and the MSCI Frontier Markets Africa Index dipped 0.21%.
Fixed income was again the best-performing strategy for the month, adding a median 0.72% to sit 6.33% higher for the year so far.
Long/short equity funds recorded their third negative for the year, declining a median 0.54% to sit 6.61% higher to the end of August.
Market neutral and quantitative funds declined a marginal 0.22% to sit 4.02% higher year to date.
Multi-strategy funds were mostly positive for the month, recording a median gain of 0.56% to sit 6.86% higher for the year. Copyright. HedgeNews Africa – September 2019. Copyright. HedgeNews Africa – September 2019.
|South African Medians||Aug-19||YTD||Aug-19||YTD|
|Market Neutral & Quantitative Strategies||-0.22%||4.02%||-0.21%||3.87%|
|Single Manager Multi-Strategy||0.56%||6.86%||0.38%||6.61%|
|Event Driven (credit)||0.78%||6.41%||0.78%||6.41%|
|Pan-Africa / AME||-0.61%||-1.28%||-1.27%||-1.92%|
|SA Single-Manager Composite||-0.10%||4.86%||-0.50%||5.50%|
|HedgeNews Africa Single-Manager Composite||-0.14%||4.54%||-0.12%||5.00%|