Long/short ahead as market dips

South African hedge funds delivered a median gain of 0.75% in August, to sit 2.29% higher on the year.

By comparison, the FTSE/JSE All Share Index (total return) declined by 0.26% and is -0.94% lower on the year, while South Africa’s All Bond Index added 0.89% and is 1.85% ahead. The MSCI Emerging Markets Index added 2.09% and is -1.18% lower for the year.

The broader HedgeNews Africa Single-Manager Composite, which includes pan-African mandates, added a median 0.74% and is 1.56% lower for the year so far.

Long/short equity funds were the strongest category in August, returning a median 1.12% (-1.86% year to date).

Market neutral and quantitative funds added 0.82% to sit 6.72% higher to the end of August, while fixed income funds added 0.52%, extending their year-to-date gains to 8.27%.

Multi-strategy funds added 0.98% and are a median 3.29% lower on the year.

Amongst broader African mandates, the Pan Africa/AME Index rose 0.64%. Copyright. HedgeNews Africa – August 2020.

Median Mean 
South African MediansAug-20YTDAug-20YTD
Long/Short Equity1.12%-1.86%0.96%0.53%
Market Neutral & Quantitative Strategies0.82%6.72%0.63%5.51%
Single Manager Multi-Strategy0.58%-3.29%0.67%-1.78%
Fixed Income0.52%8.27%0.53%7.71%
Event Driven (credit)0.82%5.01%0.82%5.01%
African Medians
Pan-Africa / AME0.64%-17.24%1.32%-12.52%
SA Single-Manager Composite0.75%2.29%0.78%1.70%
HedgeNews Africa Single-Manager Composite0.74%-1.56%1.07%1.16%