The HedgeNews Africa South African Single-Manager Composite edged higher in November, delivering a median 0.38% gain (up 4.32% year to date), as the JSE All Share Index (total return) endured its third consecutive negative month with a 3.17% decline (down 12.26% year to date) and the All Bond Index added 3.87% (+7% year to date).
Fixed income hedge funds were the best performing category for the second month, adding a median 1.03% to sit 10.03% higher for the first 11 months of the year.
South African market-neutral and quantitative funds were the next best performing category, adding a median 0.71%, to sit 5.32% higher for the first 11 months of the year.
Multi-strategy funds as a group backtracked for a second month in succession, dipping a median 0.39% to sit 2.75% higher year to date.
As a group, long/short funds were negative in November yet outperformed the equity market with a median -1.05% loss, to sit -2.71% lower on the year. Copyright. HedgeNews Africa – December 2018.
| Median | Mean | |||
| South African Medians | Nov-18 | YTD-2018 | Nov-18 | YTD-2018 |
| Long/Short Equity | -1.05% | -2.71% | -1.40% | -2.66% |
| Market Neutral & Quantitative Strategies | 0.71% | 5.32% | 0.40% | 5.63% |
| Single Manager Multi-Strategy | -0.39% | 2.75% | -1.91% | -0.63% |
| Fixed Income | 1.03% | 10.03% | 0.69% | 9.52% |
| African Medians | ||||
| Pan-Africa / AME | -0.91% | -8.77% | -0.72% | -9.07% |
| SA Single-Manager Composite | 0.38% | 4.32% | -0.78% | 1.46% |
| HedgeNews Africa Single-Manager Composite | 0.07% | 1.54% | -0.82% | -1.18% |