Long/short funds stand out in April

South African hedge funds made further gains in April, adding a median 1.12% for the month to sit 4.89% higher year to date.

Long/short equity was the top-performing strategy for the third straight month, gaining a median 2.54% in April (up 8.77% year to date).

Market-neutral funds recorded their second-best monthly return for the year, adding a median 1.1% to sit 4.28% higher for the year so far.

Most multi-strategy funds made gains in April, adding a median 0.85% (to take their year-to-date gain to 5.41%), while fixed income funds also moved higher for the month, adding median 0.63% to sit 2.85% in the green year to date.

Pan African strategies were mixed in April, with long-only equity funds delivering a mixed bag while fixed-income and trade finance strategies made solid progress. The HedgeNews Africa Pan-Africa/AME Index notched up a median 0.19% gain to sit 5.1% higher year to date. Copyright. HedgeNews Africa – May 2019

  Median Mean
South African Medians Apr-19 YTD Apr-19 YTD
Long/Short Equity 2.54% 8.77% 2.33% 8.13%
Market Neutral & Quantitative Strategies 1.10% 4.28% 0.88% 4.53%
Single Manager Multi-Strategy 0.85% 5.41% 0.80% 5.95%
Fixed Income 0.63% 2.85% 0.55% 2.89%
Event Driven (credit) 0.74% 3.07% 0.74% 3.07%
         
African Medians        
Pan-Africa / AME 0.19% 5.10% 0.23% 5.14%
         
SA Single-Manager Composite 1.12% 4.89% 1.40% 5.98%
HedgeNews Africa Single-Manager Composite 0.97% 5.09% 1.09% 5.87%