Funds take a hit as markets decline

South African hedge funds took a hit in October, with the HedgeNews Africa SA Single Manager Composite declining by a median -0.88% for the month as global equity markets swooned.

By comparison, the FTSE/JSE All Share Index dropped -3.44% to move into negative territory for the year, while the All Bond Index added 1.74%. The MSCI World declined by -2.97% and the MSCI Emerging Markets Index fell -3.95%.

Long/short equity funds endured the biggest impact, retracing by a median -1.73% for the month, the worst return for the category since March 2020.

Multi-strategy funds also had a tough month, with a median decline of -1.52%.

Fixed income funds were the strongest category, adding 1.03%, while market neutral and quantitative funds were flat for the month, edging a median -0.06% lower. Copyright. HedgeNews Africa – November 2023.