South African hedge funds performed well in November compared with a negative equity market, with the HedgeNews Africa South African Single-Manager Composite gaining a median 0.14% while the FTSE/JSE All Share Index declined 1.8% for the month.
The broader HedgeNews Africa Single-Manager Composite, which includes Africa and global portfolios, added a median 0.29%.
Amongst equity mandates, market neutral and quantitative funds outperformed their long/short peers, gaining a median 0.56% in November to sit 6.62% higher year to date.
Long/short equity funds added a median 0.22% to sit 8.6% higher for the year.
Fixed income funds continued to gain through 2019, adding a median 0.46% to sit 8.03% higher year to date.
Multi-strategy funds struggled in November, dipping a median 0.49% to sit 8.33% higher for the year.
Most Africa-focused funds made gains in November, with the HedgeNews Africa Pan-Africa/AME Index adding a median 0.89% to sit 2.03% in the green year to date. Copyright. HedgeNews Africa – December 2019.
|South African Medians||Nov-19||YTD||Nov-19||YTD|
|Market Neutral & Quantitative Strategies||0.56%||6.62%||0.84%||5.80%|
|Single Manager Multi-Strategy||-0.49%||8.33%||-1.13%||8.25%|
|Event Driven (credit)||0.85%||8.99%||0.85%||8.99%|
|Pan-Africa / AME||0.89%||2.03%||0.97%||1.55%|
|SA Single-Manager Composite||0.14%||6.73%||0.12%||8.23%|
|HedgeNews Africa Single-Manager Composite||0.29%||6.62%||0.25%||7.28%|