Funds in the HedgeNews Africa database endured a tough May, with the HedgeNews Africa South African Single-Manager Composite dipping a median 0.83% to sit 1.95% higher year to date, in a negative month for the stock market.
The HedgeNews Africa Single-Manager Composite, which includes Africa-focused portfolios, declined 1.22%, leaving it 1.87% higher for the year.
So far in 2018, hedge funds have fared better than the FTSE/JSE All Share Index, which contracted 3.48% in May to sit -4.37% lower on the year.
Only a handful of long/short equity funds made gains in May, declining a median 1.71% yet limiting losses reflected in the broader stock market.
Market neutral and quantitative funds dipped a median 0.4% for the month, fixed income funds added 0.62% and multi-strategy funds lost 1.92%.
Africa was awash with red numbers in May, with funds declining by a median 6.45% to sit 2.23% higher year to date. Copyright. HedgeNews Africa – June 2018.
| Median | Mean | |||
| South African Medians | May-18 | YTD-2018 | May-18 | YTD-2018 |
| Long/Short Equity | -1.71% | -0.08% | -2.12% | -0.58% |
| Market Neutral & Quantitative Strategies | -0.40% | 1.54% | -0.46% | 1.28% |
| Single Manager Multi-Strategy | -1.92% | 1.44% | -1.14% | 0.06% |
| Fixed Income | 0.62% | 5.82% | 0.23% | 5.87% |
| Event Driven | 1.03% | 5.11% | 1.03% | 5.11% |
| African Medians | ||||
| Pan-Africa / AME | -6.45% | 2.23% | -6.65% | 1.72% |
| SA Single-Manager Composite | -0.83% | 1.95% | -1.16% | 0.97% |
| HedgeNews Africa Single-Manager Composite | -1.22% | 1.87% | -2.21% | 1.11% |