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George Herman, previously chief dealer at the Eskom Pension and Provident Fund, has joined the investment team at private client wealth manager Citadel as of September 1, where he takes the role of senior strategist based in Citadel's office in Claremont, Cape Town.

Heiko Van Wyngaarden at Oryx Investment Management is closing his domestic business, choosing to focus on his global and Africa offerings while returning capital to investors in his South African long/short strategy as of the end of September.

BlueAlpha Investment Management is returning capital to investors in its flagship Mayflower multi-strategy hedge fund as of the end of September, and will be concentrating on its other funds.

Ex-Sanlam Prime man Terence Naidu has set up his own business, known as Tarea Capital Solutions, entering into a joint venture with Fatima Vawda's 27Four Investment Managers to launch a Cash Optimiser product.

Johannesburg-based Acumen Capital now has a 12-month formal track record with its AcuityOne Hedge Fund, a relative-value fixed income fund focused on the South African markets.

Fresh from their annual summer break, managers in Europe and the UK might have been forgiven for hoping that the environment had become easier in the hedge fund industry, but that does not seem to have been the case.

Cape Town-based Trident Capital has teamed up with Merchant Factors, South Africa's biggest independent trade finance and factoring house, to launch the Specialist Finance Fund, a credit fund

Johannesburg-based Duality Systems is preparing to launch its Duality Systems Primary Fund to outside investors, having generated a strong internal track record with its South African quantitative-based strategy.

Following the phenomenal success of the hedge fund industry's 2009 charity event, which raised R1 million for eight South African charities, the industry gathers in Johannesburg this October for a celebration of South Africa's successes in 2010 and another opportunity to make a difference for those in need.

Cape Town-headquartered specialist fund administrator IDS Group has launched an internship programme, offering final-year students and new graduates the opportunity to gain work experience in a difficult job market.