Long/short ahead in October

South African hedge funds added a median 1.52% in October, according to the HedgeNews Africa South African Single-Manager Composite, which is now 11.7% ahead for the year so far.

The broader HedgeNews Africa Single-Manager Composite, which includes pan African and global mandates, gained 1.67% to sit a median 10.76% higher.

By comparison, the FTSE/JSE All Share Index (TRI) gained 5.15% to sit 18.03% higher on the year while South Africa’s All Bond Index dipped -0.48% in October, and is 1.84% higher for the year so far.

By category, South African long/short equity funds led the way with a median 2.4% return to sit 16.63% higher on the year.

Multi-strategy funds also enjoyed a strong month, adding a median 2.35% to reflect a 13.42% year-to-date gain.

Market neutral & quantitative funds added 0.4% for the month and have gained 7.15% for the year so far.

South African fixed income hedge funds were flat in October, adding a median 0.24%, to sit 6.17% ahead on the year.