South African hedge funds had a tough October, with the HedgeNews Africa Single Manager Composite dipping -0.23% for the month as the JSE All Share Index (total return) dropped 4.73% and the All Bond Index added 0.89%.
The HNA Single-Manager Composite, which includes global and pan-African mandates, was flat with a 0.08% return, while the MSCI World Index fell 3.14% and the MSCI Frontiers Markets Africa Index added 5.31%.
Year to date, long/short equity funds are a median -3.49% lower, with a wide-ranging set of returns from individual funds, yet the category has limited losses compared with the equity market.
South African market neutral & quantitative strategies added a median 0.28% for October, while South African single-manager multi-strategy funds fell by a median -1.6%.
In South African fixed income, funds rose a median 0.37% for October, maintaining their year-to-date lead with a category gain of 8.7% for the first 10 months. Copyright. HedgeNews Africa – November 2020.
|South African Medians||Oct-20||YTD||Oct-20||YTD|
|Market Neutral & Quantitative Strategies||0.28%||6.99%||0.67%||6.09%|
|Single Manager Multi-Strategy||-1.60%||-5.20%||-1.53%||-3.97%|
|Event Driven (credit)||0.63%||6.25%||0.63%||6.25%|
|Pan-Africa / AME||0.64%||-17.04%||1.11%||-12.57%|
|SA Single-Manager Composite||-0.23%||1.77%||-0.24%||0.94%|
|HedgeNews Africa Single-Manager Composite||0.08%||-1.81%||-0.03%||0.27%|