South African hedge funds rebounded in April to record their best monthly gain since 2007, after their biggest median drop in March.
The HedgeNews Africa South African Single-Manager Composite added a median 4.84%, after a median 4.6% decline in March, to sit just 2.02% lower for the year, outperforming equities and bonds.
By comparison, the FTSE/JSE All Share Index climbed 13.98% in March to sit 10.39% lower year to date, while the All Bond Index gained 3.92% (down 5.16% year to date) and the MSCI World Index surged 10.8% to sit 12.96% lower on the year.
By strategy, long/short equity funds made the biggest jump in April, posting a 6.4% median gain, while multi-strategy funds added 5.33%.
Market-neutral and quantitative funds added 3.84% while fixed income funds recorded their best monthly gain, adding 2.73%.
Pan-Africa focused portfolios staged a minor comeback in April, adding a median 4.63%. Copyright. HedgeNews Africa – May 2020
| Median | Mean | |||
| South African Medians | Apr-20 | YTD | Apr-20 | YTD |
| Long/Short Equity | 6.40% | -7.70% | 7.79% | -6.39% |
| Market Neutral & Quantitative Strategies | 3.84% | 2.85% | 4.42% | 0.97% |
| Single Manager Multi-Strategy | 5.33% | -7.61% | 7.28% | -6.99% |
| Fixed Income | 2.73% | 2.44% | 5.39% | 3.20% |
| Event Driven (credit) | -0.02% | 2.20% | -0.02% | 2.20% |
| African Medians | ||||
| Pan-Africa / AME | 4.63% | -22.34% | 4.58% | -18.22% |
| SA Single-Manager Composite | 4.84% | -2.02% | 6.26% | -3.92% |
| HedgeNews Africa Single-Manager Composite | 4.92% | -6.43% | 6.56% | -5.68% |