South African hedge funds held steady as markets made gains in October, with the HedgeNews Africa South Africa Single Manager Composite adding 1.24% for the month to sit 5.13% higher for the year so far.
The broader HedgeNews Africa Single Manager Composite, which includes global and African mandates, added 1.17%, to come in 2.32% higher year to date.
South African multi-strategy funds were the strongest category, gaining a median 3.12%, while long/short equity funds were the next best performers, with a median gain of 1.56%. Fixed income funds gained a median 0.83% for the month, while property-focused and commodities funds were strong.
As a group, African funds were a median -1.41% lower with several managers bucking the downward trend. Copyright. HedgeNews Africa – November 2022.