South African hedge funds clocked their fourth consecutive positive month in July, with the HedgeNews Africa South African Single Manager Composite adding 0.93%, to sit 1.53% higher for the first seven months of the year.
This compares with a 2.56% gain from the JSE All Share Index in July (-0.68% lower for the year so far) and a 0.61% return from South Africa’s All Bond Index (+0.95% year to date).
South African fixed income hedge funds were the strongest category for the month, adding a median 1.41% to lead the way with a year-to-date gain of 7.71%.
South African long/short equity funds added a median 1.19% in July, reflecting a year-to-date decline of -2.94%.
Market neutral and quantitative mandates edged a median 0.01% higher, to reflect a year-to-date gain of 5.85%, while multi-strategy funds added a median 1.11% in July, and are now 3.84% lower on the year. Copyright. HedgeNews Africa – July 2020.
| Median | Mean | |||
| South African Medians | Jul-20 | YTD | Jul-20 | YTD |
| Long/Short Equity | 1.19% | -2.94% | 1.88% | -0.42% |
| Market Neutral & Quantitative Strategies | 0.01% | 5.85% | -0.05.% | 4.85% |
| Single Manager Multi-Strategy | 1.11% | -3.84% | 1.92% | -2.43% |
| Fixed Income | 1.41% | 7.71% | 1.09% | 7.15% |
| Event Driven (credit) | 0.58% | 4.16% | 0.58% | 4.16% |
| African Medians | ||||
| Pan-Africa / AME | 0.55% | -17.77% | 0.92% | -13.66% |
| SA Single-Manager Composite | 0.93% | 1.53% | 1.40% | 0.92% |
| HedgeNews Africa Single-Manager Composite | 0.90% | -2.29% | 1.89% | 0.09% |