South African hedge funds were flat in September, dipping a median -0.28% in a tough month for the markets, to sit 2.01% higher on the year, according to the HedgeNews Africa South Africa Single-Manager Composite.
The broader HedgeNews Africa Single Manager Composite, which includes Africa long-only funds, broader alternatives and global mandates, dipped -0.33% to sit -1.89% lower on the year.
By comparison, the JSE All Share Index fell 1.58% (-2.51% year to date) on a total return basis, and the All Bond Index lost 0.05% (to sit 1.79% higher for the year so far).
Event-driven mandates were the strongest performing category, adding a steady 0.54% to sit 5.58% higher on the year.
Fixed income funds were also positive, gaining 0.03% to sit 8.3% higher for the year, making them the best performing category so far in 2020.
Market neutral and quantitative mandates dipped 0.03% in September but remain resilient on the year, with a 6.69% median gain.
Long/short equity funds had a tough month, dipping a median -0.98% to sit -2.82% lower on the year, while multi-strategy funds fell -0.39% to remain -3.66% lower on the year as a group. Copyright. HedgeNews Africa – October 2020.
| Median | Mean | |||
| South African Medians | Sept-20 | YTD | Sept-20 | YTD |
| Long/Short Equity | -0.98% | -2.82% | -1.02% | -0.49% |
| Market Neutral & Quantitative Strategies | -0.03% | 6.69% | -0.12% | 5.39% |
| Single Manager Multi-Strategy | -0.39% | -3.66% | -0.71% | -2.48% |
| Fixed Income | 0.03% | 8.30% | 0.31% | 8.05% |
| Event Driven (credit) | 0.54% | 5.58% | 0.54% | 5.58% |
| African Medians | ||||
| Pan-Africa / AME | -0.40% | -17.57% | -1.15% | -13.53% |
| SA Single-Manager Composite | -0.28% | 2.01% | -0.51% | 1.19% |
| HedgeNews Africa Single-Manager Composite | -0.33% | -1.89% | -0.85% | 0.30% |