June was a tough month for South African hedge funds, with the HedgeNews Africa South African Single-Manager Composite declining a median 0.99%, yet still outperforming the JSE All Share Index (-3.49%) and the All Bond Index (-0.95%).
The HedgeNews Africa Single-Manager Composite, which includes Africa-focused portfolios, dipped a median 0.04% for the month, leaving it 4.02% higher year to date.
Market-neutral funds fared better than their long/short equity peers, adding a median 0.59% in June to sit 4.22% higher year to date.
Just a handful of long/short funds added to their year-to-date gains. The category fell by a median 1.22% to sit 1.91% higher for the year.
Fixed income funds were mixed in June with only two-thirds delivering positive returns. The category added a median 0.65% to sit 4.59% in the green for the first half.
Multi-strategy funds had their second negative month for the year, dipping a median 1.37% in June to sit 2.57% higher on the year.
Africa funds enjoyed a strong first half. The HedgeNews Africa Pan-Africa/AME Index delivered a median return of 4.4% to sit 14.33% higher year to date. Copyright. HedgeNews Africa – July 2017
| Median | Mean | |||
| South African Medians | Jun-17 | YTD-2017 | Jun-17 | YTD-2017 |
| Long/Short Equity | -1.22% | 1.99% | -1.54% | -0.72% |
| Market Neutral & Quantitative Strategies | 0.59% | 4.22% | 0.27% | 3.12% |
| Single Manager Multi-Strategy | -1.37% | 2.57% | -1.44% | 1.77% |
| Fixed Income | 0.65% | 4.59% | 0.08% | 4.89% |
| Event Driven | 1.12% | 6.57% | 1.12% | 6.27% |
| African Medians | ||||
| Pan-Africa / AME | 4.40% | 14.33% | 5.45% | 15.01% |
| SA Single-Manager Composite | -0.99% | 2.85% | -0.92% | 1.42% |
| HedgeNews Africa Single-Manager Composite | -0.04% | 4.02% | 0.67% | 4.78% |