Strong line-up for 14th annual HedgeNews Africa Awards
Cape Town: The Terebinth SNN FI Macro Retail Hedge Fund was named Fund of the Year for its outstanding 2022 performance, at the 14th annual HedgeNews Africa Awards held in Cape Town on March 9.
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.
The Terebinth SNN FI Macro Retail Hedge Fund, managed by Terebinth Capital, delivered a net return of 17.36% in 2022 on a Sharpe ratio of 1.6, outperforming its peer group and the All Bond Index in an unprecedented year for fixed income managers.
In total, 63 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.
Amongst long/short equity funds, the industry’s biggest category, the Laurium Aggressive Long Short Prescient QI Hedge Fund took top honours, with a net return of 23.23% on a Sharpe ratio of 2.66.
In the market neutral and quantitative category, the Abax Bao NCIS Market Neutral RIF was the winner with a net return of 11.51% on a Sharpe ratio of 2.15.
Amongst fixed income funds, the Southchester Smart Escalator Prescient QI Hedge Fund triumphed with a net return of 11.06% on a Sharpe ratio of 3.92.
The Fairtree Wild Fig Multi Strategy SNN QI Hedge Fund received the award for best multi-strategy fund in 2022, with a net gain of 26.55% on a Sharpe ratio of 1.84.
Double honours were given in specialist strategies, with trophies going to Gemcorp Fund I Limited (+15.15%, Sharpe 1.22) and the Greenpoint Specialised Lending Private Credit Fund (+15.68%, Sharpe 19.8).
Amongst pan-African mandates, the winner was the Enko Africa Debt Fund, with a return of 1.03% on a Sharpe of -0.03.
There were two multiple winners on the night. In fund of hedge funds, the Old Mutual Multi-Managers Long Short Equity FoHF had a clean sweep – taking home three trophies, for its 2022 performance (+11.9%, 1.65) as well as for best fund over five years and 10 years.
The Cuthman SDR Prescient QI Hedge Fund won for best new fund, judged over 12-23 months, as well as for best global fund, with a net return of 22.6% and Sharpe ratio of 1.44.
Two awards were given in the five-year (single-manager) category, to All Weather H4 Market Neutral Retail Hedge Fund (+18.65%, 1.43) and Blue Quadrant Capital Growth Prescient RI Hedge Fund (+28.31%, 0.65).
The Fairtree Assegai Equity Long Short SNN QI Hedge Fund took the trophy for best single-manager fund over 10 years, with a net return of 21.33% on a Sharpe of 0.67.
The Awards use 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.
“Both fixed income and equity markets were a difficult and volatile place to be in 2022 and the South African hedge fund industry put on a strong showing,” notes Gwyneth Roberts, the publisher of HedgeNews Africa. “All of our 2022 nominees delivered strong upside for investors while protecting against downside risks, and are worthy of increasing investor attention.”
The annual awards were hosted in partnership with top industry service providers, namely Investec, RMB, Absa, Peresec and Apex, and presented at a gala dinner in Cape Town.
Final nominations:
Long/short equity
AG Capital Rainbow SNN Retail Hedge Fund
Anchor Stable SNN Retail Hedge Fund
Fairtree Assegai Equity Long Short SNN QI Hedge Fund
Laurium Aggressive Long Short Prescient QI Hedge Fund
Laurium Long Short Prescient RI Hedge Fund
Steyn Capital SNN QI Hedge Fund
Market neutral and quantitative
Abax Bao NCIS Market Neutral RIF
All Weather H4 Market Neutral Retail Hedge Fund
Fairtree Equity Market Neutral SNN QI Hedge Fund
Peregrine Capital Pure Hedge H4 QI Hedge Fund
Fixed income
Abax RCIS Vega Retail Hedge Fund
Acumen AcuityOne SNN Retail Hedge Fund
Southchester Smart Escalator Prescient QI Hedge Fund
Terebinth SNN FI Macro Retail Hedge Fund
Multi-strategy
AG Capital Select SNN Retail Hedge Fund
Blue Quadrant Capital Growth Prescient RI Hedge Fund
Coronation Multi-Strategy Arbitrage Hedge Fund
Fairtree Wild Fig Multi Strategy SNN QI Hedge Fund
Pan Africa
Enko Africa Debt Fund
Steyn Capital Africa Fund
Sustainable Capital Africa Alpha Fund
Global
Cuthman SDR Prescient QI Hedge Fund
Protea Global SNN Retail Hedge Fund
Protea Worldwide Flexible SNN QI Hedge Fund
Steyn Capital Frontier Fund
Visio Salveo Global Long/Short Fund
Specialist
AAM Private Credit Fund
Gemcorp Fund I Limited
Greenpoint Specialised Lending Private Credit Fund
Meago Real Estate Prescient RI Hedge Fund
Fund of hedge funds
Citadel Multi-Strategy H4 QI Hedge Fund
Corion Prime Multi-Strategy Qualified Hedge Fund
Momentum RCIS Multi Managed ZAR Equity Hedge QI Hedge Fund
Momentum RCIS ZAR Diversified QI FOF
Old Mutual Multi-Managers Long Short Equity FoHF
Five-year Performance – Single-Manager
All Weather H4 Market Neutral Retail Hedge Fund
Blue Quadrant Capital Growth Prescient RI Hedge Fund
Fairtree Assegai Equity Long Short SNN QI Hedge Fund
Fairtree Wild Fig Multi Strategy SNN QI Hedge Fund
Steyn Capital SNN QI Hedge Fund
Five-year Performance – Fund of Funds
AF Investments Focus QI Hedge Fund of Funds
AF Investments Moderate QI Hedge Fund of Funds
AF Investments Performance QI Hedge Fund of Funds
Old Mutual Multi-Managers Long Short Equity FoHF
RCIS THINK Growth QI Hedge Fund
Ten-year Performance – Single-Manager
Blue Quadrant Capital Growth Prescient RI Hedge Fund
Fairtree Assegai Equity Long Short SNN QI Hedge Fund
Fairtree Wild Fig Multi Strategy SNN QI Hedge Fund
Greenpoint Specialised Lending Private Credit Fund
Polar Star SNN QI Hedge Fund
Ten-year Performance – Fund of Funds
AF Investments Focus QI Hedge Fund of Funds
AF Investments Performance QI Hedge Fund of Funds
Citadel Multi-Strategy H4 QI Hedge Fund
Edge RCIS Portable Alpha 1 QI Hedge Fund
Old Mutual Multi-Managers Long Short Equity FoHF
Best new fund
Cuthman SDR Prescient QI Hedge Fund
AAM Private Credit Fund
Fund of the Year
Fairtree Assegai Equity Long Short SNN QI Hedge Fund
Laurium Aggressive Long Short Prescient QI Hedge Fund
Steyn Capital SNN QI Hedge Fund
Peregrine Capital Pure Hedge H4 QI Hedge Fund
Fairtree Wild Fig Multi Strategy SNN QI Hedge Fund
Terebinth SNN FI Macro Retail Hedge Fund