Equity-focused hedge funds outperformed in May

Equity-focused hedge funds outperformed in May, with the HedgeNews Africa South African Single-Manager Composite adding 1.17% to sit 7.32% higher for the first five months, while the broader HedgeNews Africa Single-Manager Composite, which includes pan-African mandates, rose 1.15% and is ahead by 7.03% on the year.

This comes as the FTSE/JSE All Share Index added 1.56% to show a 16.02% gain for the year, and the All Bond Index gained 0.73% to sit 0.86% ahead year to date.

South African multi-strategy funds were the strongest category in May, adding a median 1.56% to come in 7.27% higher on the year.

Market neutral and quantitative funds had a steady month, gaining a median 1.24% in May.

South African long/short equity funds extended their gains, adding a median 1.16% for the month, to reflect year-to-date gains of 11.75%.

Fixed income funds added a median 0.77% to sit 3.89% higher on the year, outperforming the All Bond Index for both the month and the year so far.

Africa-focused strategies were broadly positive, with the HedgeNews Africa Pan Africa AME Index adding 1.56% for the month. Copyright. HedgeNews Africa – June 2021.

Median Mean 
South African MediansMay-21 YTDMay-21YTD
Long/Short Equity1.16%11.75%1.03%11.75%
Market Neutral & Quantitative Strategies1.24%3.88%1.08%4.03%
Single Manager Multi-Strategy1.56%7.27%1.51%9.93%
Fixed Income0.77%3.89%1.30%4.63%
Event Driven (credit)0.62%3.04%0.62%3.04%

African Medians
Pan-Africa / AME1.56%4.98%3.14%10.06%

SA Single-Manager Composite1.17%7.32%1.18%9.14%
HedgeNews Africa Single-Manager Composite1.15%7.03%1.53%10.20%