Hedge funds did well to limit losses in a tough August, with the HedgeNews Africa South African Single-Manager Composite dipping a median 0.1% to sit 4.86% higher for the year.
The broader HedgeNews Africa Single-Manager Composite, which includes Africa- and global-focused mandates, declined a median 0.14% to settle 4.54% in the green year to date.
By comparison, the FTSE/JSE All Share Index fell 2.44% and the South African All Bond Index added 0.95%. The MSCI World Index declined 2.24% and the MSCI Frontier Markets Africa Index dipped 0.21%.
Fixed income was again the best-performing strategy for the month, adding a median 0.72% to sit 6.33% higher for the year so far.
Long/short equity funds recorded their third negative for the year, declining a median 0.54% to sit 6.61% higher to the end of August.
Market neutral and quantitative funds declined a marginal 0.22% to sit 4.02% higher year to date.
Multi-strategy funds were mostly positive for the month, recording a median gain of 0.56% to sit 6.86% higher for the year. Copyright. HedgeNews Africa – September 2019. Copyright. HedgeNews Africa – September 2019.
| Median | Mean | |||
| South African Medians | Aug-19 | YTD | Aug-19 | YTD |
| Long/Short Equity | -0.54% | 6.61% | -0.58% | 6.68% |
| Market Neutral & Quantitative Strategies | -0.22% | 4.02% | -0.21% | 3.87% |
| Single Manager Multi-Strategy | 0.56% | 6.86% | 0.38% | 6.61% |
| Fixed Income | 0.72% | 6.33% | 0.99% | 6.23% |
| Event Driven (credit) | 0.78% | 6.41% | 0.78% | 6.41% |
| African Medians | ||||
| Pan-Africa / AME | -0.61% | -1.28% | -1.27% | -1.92% |
| SA Single-Manager Composite | -0.10% | 4.86% | -0.50% | 5.50% |
| HedgeNews Africa Single-Manager Composite | -0.14% | 4.54% | -0.12% | 5.00% |