After two positive months to start the year, South African funds recorded their first negative return in March on the back of a weak domestic equity market.
The HedgeNews Africa South African Single-Manager Composite dipped a median 0.07% to sit 1.44% higher for the quarter, while the HedgeNews Africa Single-Manager Composite, which includes Africa-focused funds, added 0.03% to sit 2.03% higher at the end of March.
Fixed income funds continued their positive momentum, adding 1.36% in March and 4.75% for the quarter.
Amongst equity strategies, market neutral outperformed long/short, with the HedgeNews Africa Market Neutral and Quantitative Index adding 0.23% for the month (1.05% for the quarter) while the HedgeNews Africa Long/Short Equity Index declined 1.18% (down 0.11% for the quarter).
Multi-strategy funds found the going tough in March, dipping 0.62% to sit 1.14% higher for the quarter.
Africa-focused portfolios had another solid month, gaining 0.94% in March and 7.66% for the quarter. Copyright. HedgeNews Africa – April 2018.
| Median | Mean | |||
| South African Medians | Mar-18 | YTD-2018 | Mar-18 | YTD-2018 |
| Long/Short Equity | -1.18% | -0.11% | -1.31% | -0.62% |
| Market Neutral & Quantitative Strategies | 0.23% | 1.05% | 0.12% | 0.98% |
| Single Manager Multi-Strategy | -0.62% | 1.14% | -1.03% | -1.41% |
| Fixed Income | 1.36% | 4.75% | 1.62% | 5.42% |
| Event Driven | 0.88% | 2.71% | 0.88% | 2.71% |
| African Medians | ||||
| Pan-Africa / AME | 0.94% | 7.66% | 0.67% | 7.17% |
| SA Single-Manager Composite | -0.07% | 1.44% | -0.53% | 0.33% |
| HedgeNews Africa Single-Manager Composite | 0.03% | 2.03% | -0.32% | 1.82% |