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.
| Median | Mean | |||
| South African Medians | Nov-19 | YTD | Nov-19 | YTD |
| Long/Short Equity | 0.22% | 8.60% | 0.30% | 9.81% |
| Market Neutral & Quantitative Strategies | 0.56% | 6.62% | 0.84% | 5.80% |
| Single Manager Multi-Strategy | -0.49% | 8.33% | -1.13% | 8.25% |
| Fixed Income | 0.46% | 8.03% | -0.07% | 6.78% |
| Event Driven (credit) | 0.85% | 8.99% | 0.85% | 8.99% |
| African Medians | ||||
| 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% |