The HedgeNews Africa South African Single-Manager Composite declined a median -2.49% in February to sit 1.78% in red for the year, while the broader HedgeNews Africa Single-Manager Composite, which includes Africa- and global-focused portfolios, fell by a median 3% to sit 2.29% lower year to date.
Indices tumbled across the globe, with the FTSE/JSE All Share Index declining 8.99% in February (down 10.53% year to date), the MSCI World Index falling 8.59% (down 9.22% year to date) and the MSCI Frontier Markets Africa Index losing 6.89% (down 5.47% year to date). The South African All Bond Index dipped 0.07% for the month (up 1.12% year to date) and STeFI added 0.52% (up 1.1% year to date).
Fixed income funds were mostly positive for the month, with the category adding a median 0.44% to sit 1.83% higher year to date.
Market-neutral and quantitative funds limited their losses for the month, dipping a median -1.2% to sit 0.77% lower for the year.
Long/short equity funds found the month particularly tough, declining a median -5.54% to sit 4.59% lower year to date.
Multi-strategy funds also had a difficult month, declining a median 3.61% to sit 2.97% lower for the year.
Amongst Africa funds, the HedgeNews Africa Pan-Africa/AME Index fell a median -5.86% in February, to sit -5.25% lower on the year. Copyright. HedgeNews Africa – March 2020
|South African Medians||Feb-20||YTD||Feb-20||YTD|
|Market Neutral & Quantitative Strategies||-1.20%||-0.77%||-1.11%||-0.76%|
|Single Manager Multi-Strategy||-3.61%||-2.97%||-3.94%||-3.53%|
|Event Driven (credit)||0.81%||1.58%||0.81%||1.58%|
|Pan-Africa / AME||-5.86%||-5.25%||-5.10%||-4.01%|
|SA Single-Manager Composite||-2.49%||-1.78%||-3.08%||-2.46%|
|HedgeNews Africa Single-Manager Composite||-3.00%||-2.29%||-3.31%||-2.58%|