Funds gain strongly for consecutive month

South African hedge funds continued with their strong start to the year, with the HedgeNews Africa South African Single-Manager Composite adding a median 1.4% in February as the equity market advanced.

The broader HedgeNews Africa Single-Manager Composite, which includes Africa-focused portfolios, gained a median 1.55% for the month.

Long/short equity was the best performing strategy for the month, adding a median 3% to sit 4.65% higher year to date.

Market-neutral funds under-performed their long/short peers in February, adding a median 0.7% for the month to sit 2.18% higher year to date.

Multi-strategy funds had another solid month, advancing by a median 1.98% to sit 3.81% higher year to date.

Fixed income funds were broadly positive in February, gaining a median 0.52% to sit 1.18% higher for the year.

Africa-focused funds delivered another set of solid returns, with the HedgeNews Africa Pan-Africa/AME Index adding a median 2.19%. Copyright. HedgeNews Africa – March 2019.

  Median Mean
South African Medians Feb-19 YTD Feb-19 YTD
Long/Short Equity 3.00% 4.65% 2.77% 4.46%
Market Neutral & Quantitative Strategies 0.70% 2.18% 0.53% 2.32%
Single Manager Multi-Strategy 1.98% 3.81% 2.64% 4.73%
Fixed Income 0.52% 1.18% 0.42% 1.29%
Event Driven (credit) 0.70% 1.51% 0.70% 1.51%
         
African Medians        
Pan-Africa / AME 2.19% 4.70% 2.33% 4.77%
         
SA Single-Manager Composite 1.40% 2.83% 1.92% 3.57%
HedgeNews Africa Single-Manager Composite 1.55% 3.17% 1.97% 3.91%