SA hedge funds continue upward climb

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 MediansJul-20YTDJul-20YTD
Long/Short Equity1.19%-2.94%1.88%-0.42%
Market Neutral & Quantitative Strategies0.01%5.85%-0.05.%4.85%
Single Manager Multi-Strategy1.11%-3.84%1.92%-2.43%
Fixed Income1.41%7.71%1.09%7.15%
Event Driven (credit)0.58%4.16%0.58%4.16%
African Medians
Pan-Africa / AME0.55%-17.77%0.92%-13.66%
SA Single-Manager Composite0.93%1.53%1.40%0.92%
HedgeNews Africa Single-Manager Composite0.90%-2.29%1.89%0.09%