Funds end year on positive note

South African multi-strategy funds were the strongest category in December, adding a median 2.05% as both equities and bonds ended the year on a positive note.

The HedgeNews Africa South Africa Single Manager Composite gained a median 1.14% in December to end 2023 ahead by 8.76%.

By comparison, the FTSE JSE All Share Index rose 2% in December, to close the year 9.25% higher, while South Africa’s All Bond Index added 1.68% to end 9.93% higher. The MSCI World Index put on 21.77% in 2023, after adding 4.81% in December, while the MSCI Frontier Markets Africa Index was down 6.96% after rising 0.71% in December.

Long/short equity funds rose 1.01% for the month (to sit 8.39% higher on the year), while the market neutral and quantitative category added a median 0.94% (+8.79% on the year).

Fixed income hedge funds rose 0.89% in December to lead across strategies for the year with a median gain of 11.62%. Copyright. HedgeNews Africa – January 2024.