Multi-strategy leads as markets rebound

November brought a wide range of returns as the HedgeNews Africa SA Single Manager Composite added 3.24%, with most funds turning in positive numbers as global markets rallied after a negative October.

By comparison, the FTSE/JSE All Share Index added 8.55% to move into the black for the year, and South Africa’s All Bond Index gained 4.73%. Further afield, the MSCI World gained 9.21% and the MSCI Emerging Markets Index added 7.86%.

Single-manager multi-strategy funds were the strongest category, gaining a median 5.09% for the month, while long/short equity funds gained a median 4.33%.

The fixed income category rose a median 3.02% in November, while market neutral and quantitative funds rose a median 1.7%.

Further afield, pan African funds added a median 3.06% for the month.  CopyrightHedgeNews Africa – December 2023.