Hedge funds edged higher in February with the HedgeNews Africa South Africa Single Manager Composite adding a median 0.27% for the month as South African markets declined.
The FTSE/JSE All Share Index lost 2.44% on a total return basis in February, to sit -5.31% lower on the year, while South Africa’s All Bond Index dipped 0.58% and is flat so far in 2024.
By comparison, the MSCI World Index added 4.11% for the month and is now 5.3% higher on the year. The MSCI Emerging Markets Index gained 4.63% and the MSCI Frontier Markets Africa Index fell 11.75%.
Market neutral and quantitative funds were the strongest category in February, adding a median 0.42% to sit 1.46% higher for the first two months of the year.
Long/short funds were flat in a negative month for the markets, adding a median 0.29% to sit 1.62% higher on the year.
Single-manager multi-strategy funds dipped by a median 0.38% in February, while fixed income funds were flat, adding a median 0.02%.
Fund of hedge funds outpaced single managers for the month, with the HedgeNews Africa South African Fund of Funds Composite adding a median 0.42%. Copyright. HedgeNews Africa – April 2024.