The HedgeNews Africa South African Single-Manager Composite added 5.89% in 2017, slightly ahead of its 2016 performance of 5.27%, despite a negative December during which funds returned a median -0.85%.
The broader HedgeNews Africa Single-Manager Composite, which includes Africa-focused portfolios, gained 8.94% for full-year 2017, compared to 3.25% in 2016, including a 0.54% median gain in December.
Amongst South African hedge fund strategies, fixed income turned in a positive December with a median gain of 0.93%, while long/short equity, market neutral and quantitative and multi-strategy funds were all in the red for the month.
For the year, fixed income funds advanced a median 10.39% in 2017, in line with a 10.61% return in 2016. Long/short turned in a positive median 5.85%, improving on a -1.19% decline in 2016. The market-neutral and quantitative category advanced 3.58%, to deliver a 12-month return ahead of its 2.49% gain in 2016. Multi-strategy funds found 2017 more challenging than 2016 – closing the year 4.6% higher after a 10.21% gain the year before.
Africa funds showed improved fortunes in 2017, with the HedgeNews Africa Pan-Africa/AME Index adding a median 2.94% in December to finish the year 25.99% higher, compared to a 6.54% decline in 2016. Copyright. HedgeNews Africa – January 2018.
| Median | Mean | |||
| South African Medians | Dec-17 | YTD-2017 | Dec-17 | YTD-2017 |
| Long/Short Equity | -1.19% | 5.85% | -1.24% | 2.26% |
| Market Neutral & Quantitative Strategies | -2.11% | 3.58% | -1.89% | 1.79% |
| Single Manager Multi-Strategy | -1.05% | 4.60% | -3.16% | 1.58% |
| Fixed Income | 0.93% | 10.39% | 1.04% | 10.79% |
| Event Driven | 1.12% | 13.75% | 1.18% | 13.23% |
| African Medians | ||||
| Pan-Africa / AME | 2.94% | 25.99% | 3.36% | 28.40% |
| SA Single-Manager Composite | -0.85% | 5.89% | -1.52% | 3.16% |
| HedgeNews Africa Single-Manager Composite | 0.54% | 8.94% | -0.09% | 9.28% |