Awards 2020

Strong line-up for 12th annual HedgeNews Africa Awards

Cape Town, March 4: The Polar Star SNN QI Hedge Fund took home the prestigious Fund of the Year trophy at the HedgeNews Africa Awards 2020, where a total of 15 awards were presented across various categories. 

Polar Star, a specialist commodities house, had an impressive 12 months, adding a net 63.87% on a Sharpe ratio of 2.6. The team won a total of three trophies, including for Specialist Strategies in 2020 and best performance over 10 years. 

The second multiple winner in 2020 was All Weather Capital, which won in both the long/short and market neutral & quantitative categories. The All Weather H4 Performance Retail Hedge Fund beat out strong competition from its long/short equity peers, with a gain of 29.38% over the calendar year and a Sharpe ratio of 1.33, while the All Weather NCIS Market Neutral Retail Hedge Fund added 32.6% on a Sharpe ratio of 2.23 to triumph amongst market-neutral and quantitative funds. 

In the fixed income category, the Matrix NCIS Fixed Income Retail Hedge Fund had an exceptional year, winning top honours with a return of 33.57% and a Sharpe ratio of 1.96. 

In the multi-strategy category, the Fairtree Woodland Multi Strategy SNN QI Hedge Fund was the victor with a strong risk-adjusted return, adding 22.28% on a Sharpe ratio of 1.21. 

Amongst Pan Africa funds, the Enko Africa Debt Fund took the trophy for the second consecutive year, with a return of 25.24% and a Sharpe ratio of 4.78. 

The Optis Global Opportunities Fund won the inaugural global award, with a return of 79.04% and a Sharpe ratio of 2.1. 

The New Fund of the Year award, which covers funds launched within the past 12-23 months, went to the Ninety One Equity Long/Short Hedge Fund, with a return of 22.29% and a Sharpe ratio of 0.61. 

The trophy for best Fund of Funds in 2020 went to the Novare Mayibentsha Moderate Qualified Fund of Hedge Funds, with a 13.07% net return on a Sharpe ratio of 1.25. 

In the longer-term categories, the Fairtree Assegai Equity Long Short SNN QI Hedge Fund won for best single-manager performance over five years, with a net annualised gain of 17.85% on a 0.4 Sharpe ratio, making it the second win in 2020 for Fairtree.

TriAlpha SNN Enhanced Fixed Income QI FoHF won for best fund of funds over five years, returning a net annualised 8.67% on a Sharpe ratio of 1.44. 

Double honours were given for best single-manager fund over 10 years, with Peregrine Capital and Polar Star both earning kudos. 

The Peregrine Capital High Growth H4 QI Hedge Fund has generated net gains of 18.31% (Sharpe ratio 1.51) over 10 years, while Polar Star SNN QI Hedge Fund has added an annualised 23.12% (Sharpe 1.14). 

For best fund of funds over 10 years, the Old Mutual Multi-Managers Long Short Equity FoHF won for the third consecutive year, with a net gain of 10% on a Sharpe ratio of 0.66. 

Now in their 12th year, the Awards measure the best risk-adjusted returns of funds across 14 different categories. They are based on monthly data submitted to the HedgeNews Africa database, which includes South African hedge funds as well as other pioneering strategies applied across the broader African markets. 

They are based on an established methodology and independently verified data submitted to HedgeNews Africa, the region’s leading independent publisher focused on the hedge fund and alternative asset management industries. 

“2020 was a year of extreme challenges, and we are pleased to note that many hedge funds offered strong gains for their investors while protecting against downside risks, despite extraordinary market conditions,” notes Gwyneth Roberts, the publisher of HedgeNews Africa. 

In total, 52 nominations were given across 14 categories, with the one-year awards ultimately going to those funds with the top return provided their Sharpe ratio was within 25% of the top Sharpe amongst the nominees – a method to appraise consistency of returns. 

The annual awards were hosted in partnership with top industry service providers, namely RMB, Absa Capital and Peresec, and hosted in a virtual ceremony. 

Data used in deciding the Awards is independently verified by eComply Consultants.

Awards Methodology

Now in their 12th year, the HedgeNews Africa Awards are highly respected for recognising those funds that deliver the best risk-adjusted returns in any calendar year.

Nominations are based on return, with the Award in each category ultimately going to the fund that has achieved the best return provided it is within 25% of the top Sharpe ratio among the nominees.

To qualify for a nomination, funds must average a minimum of R80 million under management for the year, or $10 million in US structures. Longer-term awards require R160 million AUM, while the new fund category allows for a lower minimum.

Final Nominees:

Here are the final nominees for the 2020 HedgeNews Africa Awards, based on 12 months of data:

Long/short Equity

All Weather H4 Performance Retail Hedge Fund – winner

Anchor Accelerator SNN QI Hedge Fund

Fairtree Assegai Equity Long Short SNN QI Hedge Fund

Ninety One Equity Long/Short Hedge Fund

Oystercatcher RCIS Long Short Retail Hedge Fund

Peregrine Capital High Growth H4 QI Hedge Fund

Market Neutral and Quantitative

All Weather NCIS Market Neutral Retail Hedge Fund – winner

Peregrine Capital Pure Hedge H4 QI Hedge Fund

X-Chequer SNN Diplo QI Hedge Fund

Multi-Strategy

Blue Quadrant Capital Growth Prescient RI Hedge Fund

Fairtree Wild Fig Multi Strategy SNN QI Hedge Fund

Fairtree Woodland Multi Strategy SNN QI Hedge Fund – winner

Marble Rock NCIS Keystone FICC RI Hedge Fund

Fixed Income

Matrix NCIS Fixed Income Retail Hedge Fund – winner

Ninety One Fixed Income QI Hedge Fund

Southchester Smart Escalator Prescient QI Hedge Fund

Terebinth SNN FI Macro Retail Hedge Fund

Specialist

Chrysalis Credit Arbitrage Fund

Polar Star SNN QI Hedge Fund – winner

STANLIB Multi-Manager NCIS Private Assets Qualified HF

Pan Africa

Allan Gray Africa ex-SA Bond Fund

Altree Capital Africa Opportunities Fund

Enko Africa Debt Fund – winner

Sustainable Capital Africa Alpha Fund

Global

Optis Global Opportunities Fund – winner

Protea Global SNN Retail Hedge Fund

Visio Salveo Global Long/Short Fund

Fund of Funds

Alpha Prime Cautious Qualified Investor FOHF

Novare Mayibentsha Focused Qualified Fund of Hedge Funds

Novare Mayibentsha Moderate Qualified Fund of Hedge Funds – winner

Prime Alternative Retail Fund of Hedge Funds

Single Manager five-year

Fairtree Assegai Equity Long Short SNN QI Hedge Fund – winner

Matrix NCIS Fixed Income Retail Hedge Fund

Terebinth SNN FI Macro Retail Hedge Fund

Fund of funds five-year

AF Investments Stable QI Hedge Fund of Funds

Novare Mayibentsha Market Neutral Qualified FoHF

TriAlpha SNN Enhanced Fixed Income QI FoHF – winner

Single Manager 10-year

Catalyst Alpha Prescient QI Hedge Fund

Fairtree Wild Fig Multi Strategy SNN QI Hedge Fund

Polar Star SNN QI Hedge Fund – winner

Peregrine Capital High Growth H4 QI Hedge Fund – winner

Fund of funds 10-year

AF Investments Moderate QI Hedge Fund of Funds

AF Investments Performance QI Hedge Fund of Funds

Citadel Multi-Strategy H4 QI Hedge Fund

Old Mutual Multi-Managers Long Short Equity FoHF – winner

New Fund of the Year

Blue Clay Pan-Africa Fund

Ninety One Equity Long/Short Hedge Fund – winner

Oystercatcher RCIS Long Short Retail Hedge Fund

Fund of the Year

All Weather H4 Performance Retail Hedge Fund

All Weather NCIS Market Neutral Retail Hedge Fund

Fairtree Woodland Multi Strategy SNN QI Hedge Fund

Matrix NCIS Fixed Income Retail Hedge Fund

Polar Star SNN QI Hedge Fund – winner

For more information email data@hedgenewsafrica.com

Awards categories include:

•    Long/short equity
•    Market neutral and quantitative
•    Fixed income
•    Multi-strategy
•    Specialist strategies
•    Pan Africa
•    Global
•    Fund of hedge funds
•    Five-year performance
•    10-year performance
•    New fund of the year
•    Fund of the year

Attendance

Attendance at the 2020 virtual Awards ceremony on March 4 is by sponsor invitation.
Email events@hedgenewsafrica.com for more information.