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.
| | Median | Mean | ||
| South African Medians | May-21 | YTD | May-21 | YTD |
| Long/Short Equity | 1.16% | 11.75% | 1.03% | 11.75% |
| Market Neutral & Quantitative Strategies | 1.24% | 3.88% | 1.08% | 4.03% |
| Single Manager Multi-Strategy | 1.56% | 7.27% | 1.51% | 9.93% |
| Fixed Income | 0.77% | 3.89% | 1.30% | 4.63% |
| Event Driven (credit) | 0.62% | 3.04% | 0.62% | 3.04% |
| | | | | |
| African Medians | | | | |
| 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% |