Long/short leads as markets bounce

Funds in the HedgeNews Africa universe had a solid November, with the HNA South African Single-Manager Composite delivering a median return of 1.75% while the broader HNA Single Manager Composite, which includes pan African and global mandates, added 2.25%.

By comparison, the FTSE/JSE All Share Index shot up by 12.33% while South Africa’s All Bond Index climbed 3.91%, and the MSCI World Index rose 6.8% for the month.

Long/short equity funds were the top performing category, gaining a median 3.13% for the month.

Single-manager multi-strategy funds were the next best category, rising a median 2.29%.

Fixed income funds rose a median 1.88% in November, while market neutral and quantitative funds rose a median 1.13%.

Amongst pan-African funds, the HNA Pan-Africa AME Index gained 4.54%. Copyright. HedgeNews Africa – January 2023.