The HedgeNews Africa South Africa Single-Manager Composite edged 0.11% higher in June as the South African equity market fell, and now sits a median 7.42% higher for the first six months.
The broader HedgeNews Africa Single-Manager Composite, which includes pan African and global mandates, dipped by 0.06% to 6.94% higher on the year.
By comparison, the FTSE/JSE All Share Index (TRI) declined by 2.43% for the month, while the MSCI World Index added 1.4% and the MSCI Frontiers Markets Africa Index gained 1.63%.
Fixed income funds were the top performing category in June, adding a median 0.74% as South Africa’s All Bond Index rose 1.09%.
Long/short equity funds limited market losses in June, dipping by a median 0.47% to sit 11.28% higher on the year, keeping pace with a 13.2% rise from the JSE All Share.
The market neutral & quantitative category added a median 0.29% in June to sit 3.99% higher on the year, while multi-strategy funds were flat for the month, with a median return of 0.19% to sit 7.3% ahead on the year.
Pan African equity mandates struggled to post positive numbers in June, while Africa fixed income funds continued to make progress, with the Pan-Africa/AME Median flat for the month to post first-half gains of a median 4.23%. Copyright. HedgeNews Africa- July 2021.
| | Median | Mean | ||
| South African Medians | June-21 | YTD | June-21 | YTD |
| Long/Short Equity | -0.47% | 11.28% | -0.54% | 11.17% |
| Market Neutral & Quantitative Strategies | 0.29% | 3.99% | 0.21% | 4.05% |
| Single Manager Multi-Strategy | 0.19% | 7.30% | 0.99% | 10.97% |
| Fixed Income | 0.74% | 4.65% | 0.95% | 5.62% |
| Event Driven (credit) | 0.58% | 3.63% | 0.58% | 3.63% |
| | | | | |
| African Medians | | | | |
| Pan-Africa / AME | -0.31% | 4.23% | -0.54% | 9.15% |
| | | | | |
| SA Single-Manager Composite | 0.11% | 7.42% | 0.13% | 9.24% |
| HedgeNews Africa Single-Manager Composite | 0.06% | 6.94% | -0.12% | 9.99% |