Long/short ahead in March

Funds in the HedgeNews Africa database had a strong March, with the HedgeNews Africa South African Single Manager Composite gaining 1.61% while the broader HedgeNews Africa Single Manager Composite, which includes pan Africa strategies, gained 1.32%.

By comparison, the JSE All Share Index gained 1.58% on a total return basis, while South Africa’s All Bond Index contracted by 2.54%. The MSCI All World Index rose 3.11% for the month while the MSCI Emerging Markets Index dipped 1.7% and the MSCI Frontiers Markets Africa Index lost 1.48%.

Long/short equity funds were the strongest category for the month, adding a median 3.16% to take year-to-date gains to 9.43%.

Multi-strategy funds were the next best category, adding a median 1.3% in March to sit 4.08% higher year to date.

Fixed income funds gained a subdued 0.29% in March to sit 2.6% higher for the quarter. Copyright. HedgeNews Africa- April 2021.

Median Mean 
South African Medians Mar-21 YTDMar-21YTD
Long/Short Equity3.16%9.43%3.10%9.44%
Market Neutral & Quantitative Strategies0.65%2.27%1.27%2.69%
Single Manager Multi-Strategy1.30%4.08%2.02%6.65%
Fixed Income0.29%2.60%0.22%2.66%
Event Driven (credit)0.60%1.80%0.60%1.80%

African Medians
Pan-Africa / AME-0.74%1.38%-0.46%4.14%

SA Single-Manager Composite1.61%5.24%2.22%6.75%
HedgeNews Africa Single-Manager Composite1.32%4.76%1.81%6.66%