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
| Median | Mean | |||
| South African Medians | Feb-20 | YTD | Feb-20 | YTD |
| Long/Short Equity | -5.54% | -4.59% | -5.20% | -4.50% |
| Market Neutral & Quantitative Strategies | -1.20% | -0.77% | -1.11% | -0.76% |
| Single Manager Multi-Strategy | -3.61% | -2.97% | -3.94% | -3.53% |
| Fixed Income | 0.44% | 1.83% | 0.37% | 2.13% |
| Event Driven (credit) | 0.81% | 1.58% | 0.81% | 1.58% |
| African Medians | ||||
| 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% |