Cape Town, February 19, 2010
36ONE Asset Management and KADD Capital each took home double honours at the HedgeNews Africa Awards, celebrated at a glittering gala dinner at the Vineyard Hotel in Cape Town last night.
The awards, attended by the industry’s preeminent fund managers and investors, are based on monthly data collected throughout the year by HedgeNews Africa, the leading independent hedge fund industry publisher.
The awards recognise the best risk-adjusted returns of hedge funds in South Africa and the broader African region.
“The hedge fund industry in this part of the world has done a splendid job of protecting capital whilst at the same time delivering excellent returns for their investors,” said Gwyneth Roberts, editor of HedgeNews Africa. “On a risk-adjusted basis, these funds present a very compelling case.”
The 36ONE Hedge Fund won the prestigious Fund of the Year award, returning 32.71% for the 12 months of 2009 with a Sharpe ratio of 3.00. The fund, managed by 36ONE Asset Management in Johannesburg, also won the South African equity award for the best long/short equity fund.
KADD Capital’s Validus funds also took double honours, winning both the Long-Term Performance Award and the New Fund of the Year award. Their flagship Validus Fixed Income Fund was the best performing fund over three years, returning an annualised 26.25% with a Sharpe ratio of 2.04%,
while the Validus Plus Fixed Income Fund took best new fund trophy with an annualised return of 78.95% and a Sharpe ratio of 4.08.
The Insparo Africa and Middle East fund, a multi-strategy hedge fund managed by London-based Insparo Asset Management, achieved top honours amongst pan-Africa strategies, with a return of 31.43% and a Sharpe ratio of 2.24.
In South African multi-strategy, the award went to Brait Multi-Strategy, managed by the Brait team in Cape Town. The fund returned 25.77% with a Sharpe of 2.17.
The X-Chequer Market Neutral Fund from Cape Town-based X-Chequer Fund Management, took the kudos in the market neutral and quantitative category, gaining 22.70% with a Sharpe of 5.72.
The fixed income award went to BlueAlpha’s Flying Cloud fund, with a 20.49% gain and a 4.83 Sharpe ratio.
Leaf Capital, a structured finance fund, achieved the best return amongst specialist strategies, gaining 14.31% with a Sharpe ratio of 8.17.
In the fund of funds category, the Blue Ink-ubator Diversified Fund of Funds, managed by Sanlam-owned Blue Ink Investments, took top honours, returning 19.19% for the 12-month period with a Sharpe ratio of 4.83.