South African hedge funds returned a median 0.96% in May, according the HedgeNews Africa South African Single-Manager Composite.
This compares with a 0.31% gain from the Johannesburg All Share Index (total return) and 7.06% from South Africa’s All Bond Index.
As a group, South African hedge funds are now a median -1.08% lower for the first five months of the year, limiting losses compared with -10.12% from the ALSI yet slightly behind a +1.53% return from the ALBI.
South African fixed income was the best performing category in May, gaining a median 2.01% to sit 4.5% higher for the year so far.
Market neutral and quantitative mandates gained a median 1.77%, reflecting a 4.67% gain for the year so far.
Long/short equity funds rose 0.17% in May (to sit -7.54% lower on the year), while multi-strategy mandates added 1.4% (-6.31% year to date).
Pan African mandates had a strong month, with the HedgeNews Africa pan Africa AME Index gaining 3.82%. Copyright. HedgeNews Africa – June 2020.
| Median | Mean | |||
| South African Medians | May-20 | YTD | May-20 | YTD |
| Long/Short Equity | 0.17% | -7.45% | 0.13% | -6.26% |
| Market Neutral & Quantitative Strategies | 1.77% | 4.67% | 1.83% | 2.82% |
| Single Manager Multi-Strategy | 1.40% | -6.31% | 0.66% | -6.38% |
| Fixed Income | 2.01% | 4.50% | 1.12% | 4.35% |
| Event Driven (credit) | 0.64% | 2.85% | 0.64% | 2.85% |
| African Medians | ||||
| Pan-Africa / AME | 3.82% | -19.38% | 3.58% | -15.30% |
| SA Single-Manager Composite | 0.96% | -1.08% | 0.69% | -3.26% |
| HedgeNews Africa Single-Manager Composite | 1.73% | -4.81% | 1.47% | -4.29% |