South African hedge funds turned in a median gain of 6.19% in 2020, after adding 1.3% in December, according to the HedgeNews Africa South Africa Single Manager Composite.
The broader HedgeNews Africa Single Manager Composite, which includes pan Africa and global strategies, closed the year with a median 3.94% gain, after adding 1.84% in December.
This compares with a return of 7% from the FTSE/JSE All Share Index (TRI) in a volatile year, while South Africa’s All Bond Index rose 8.63% over 12 months. The MSCI World Index closed the year 14.06% higher and the MSCI Emerging Markets Index added 15.84%.
Single-manager multi-strategy funds were the strongest category for the month, adding 2.5% (+2.96% year to date), followed by long/short equity funds, which moved into the black for the year with a median 2.24% gain, while the JSE All Share rose 4.24% in December.
For the year South African fixed income was the strongest category, gaining 10.07% after adding 0.49% in December.
Market neutral & quantitative funds also had a good year, gaining a median 9.19% (+0.81% in December).
Pan African mandates moved 3.59% higher in December but remained 9.98% lower on the year. Copyright. HedgeNews Africa – January 2021.
|South African Medians||Dec-20||YTD||Dec-20||YTD|
|Market Neutral & Quantitative Strategies||0.81%||9.19%||1.02%||9.56%|
|Single Manager Multi-Strategy||2.50%||2.96%||2.62%||4.75%|
|Event Driven (credit)||0.73%||7.65%||0.73%||7.66%|
|Pan-Africa / AME||3.59%||-9.98%||4.63%||-4.12%|
|SA Single-Manager Composite||1.30%||6.19%||2.09%||7.38%|
|HedgeNews Africa Single-Manager Composite||1.84%||3.94%||2.87%||7.87%|