Equity-focused hedge funds outperformed in May, with the HedgeNews Africa South African Single-Manager Composite adding 1.17% to sit 7.32% higher for the first five months, while the broader HedgeNews Africa Single-Manager Composite, which includes pan-African mandates, rose 1.15% and is ahead by 7.03% on the year.
This comes as the FTSE/JSE All Share Index added 1.56% to show a 16.02% gain for the year, and the All Bond Index gained 0.73% to sit 0.86% ahead year to date.
South African multi-strategy funds were the strongest category in May, adding a median 1.56% to come in 7.27% higher on the year.
Market neutral and quantitative funds had a steady month, gaining a median 1.24% in May.
South African long/short equity funds extended their gains, adding a median 1.16% for the month, to reflect year-to-date gains of 11.75%.
Fixed income funds added a median 0.77% to sit 3.89% higher on the year, outperforming the All Bond Index for both the month and the year so far.
Africa-focused strategies were broadly positive, with the HedgeNews Africa Pan Africa AME Index adding 1.56% for the month. Copyright. HedgeNews Africa – June 2021.
|South African Medians||May-21||YTD||May-21||YTD|
|Market Neutral & Quantitative Strategies||1.24%||3.88%||1.08%||4.03%|
|Single Manager Multi-Strategy||1.56%||7.27%||1.51%||9.93%|
|Event Driven (credit)||0.62%||3.04%||0.62%||3.04%|
|Pan-Africa / AME||1.56%||4.98%||3.14%||10.06%|
|SA Single-Manager Composite||1.17%||7.32%||1.18%||9.14%|
|HedgeNews Africa Single-Manager Composite||1.15%||7.03%||1.53%||10.20%|