South African hedge funds were flat in September, dipping a median -0.28% in a tough month for the markets, to sit 2.01% higher on the year, according to the HedgeNews Africa South Africa Single-Manager Composite.
The broader HedgeNews Africa Single Manager Composite, which includes Africa long-only funds, broader alternatives and global mandates, dipped -0.33% to sit -1.89% lower on the year.
By comparison, the JSE All Share Index fell 1.58% (-2.51% year to date) on a total return basis, and the All Bond Index lost 0.05% (to sit 1.79% higher for the year so far).
Event-driven mandates were the strongest performing category, adding a steady 0.54% to sit 5.58% higher on the year.
Fixed income funds were also positive, gaining 0.03% to sit 8.3% higher for the year, making them the best performing category so far in 2020.
Market neutral and quantitative mandates dipped 0.03% in September but remain resilient on the year, with a 6.69% median gain.
Long/short equity funds had a tough month, dipping a median -0.98% to sit -2.82% lower on the year, while multi-strategy funds fell -0.39% to remain -3.66% lower on the year as a group. Copyright. HedgeNews Africa – October 2020.
|South African Medians||Sept-20||YTD||Sept-20||YTD|
|Market Neutral & Quantitative Strategies||-0.03%||6.69%||-0.12%||5.39%|
|Single Manager Multi-Strategy||-0.39%||-3.66%||-0.71%||-2.48%|
|Event Driven (credit)||0.54%||5.58%||0.54%||5.58%|
|Pan-Africa / AME||-0.40%||-17.57%||-1.15%||-13.53%|
|SA Single-Manager Composite||-0.28%||2.01%||-0.51%||1.19%|
|HedgeNews Africa Single-Manager Composite||-0.33%||-1.89%||-0.85%||0.30%|