Tue, Feb 21, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

As one of South Africa's oldest hedge funds, Big Rock plays its cards right with low-risk relative value strategy

Wednesday, July 13, 2011

amb
Leila Kuhlenthal
Benedicte Gravrand, Opalesque Geneva:

Within the Peregrine Group, there is a South Africa-focused, market neutral hedge fund called Big Rock Capital Fund; it is now up 5.6% YTD net, after returning 1.9% in May 2011. That month, the fund remained market neutral (3% net long), it was leveraged 1.4 times and benefited from relative value trades in the financial and industrial sectors.

Comparatively, according to Singapore-based data provider Eurekahedge, emerging markets hedge funds lost 1.20% in May, 0.64% (est.) in June and are up 1.04% YTD; and relative value hedge funds lost 0.19% in May, gained 0.39% (est.) in June and are up 2.80% YTD (the only down year since 2000 being 2008).

The FTSE/JSE Africa All Share Index started 2011 at 32,427 and went down to 32,389 on May 30th. It suffered a dip at the end of 2008 and during 2009 (to around 18,000) but has recovered its May 2008 high of around 32,000 since.

Without a single down calendar year since its inception more than 12 years ago, the Big Rock Capital Fund has returned 626% in total and has annualised 17.3% with a standard deviation of 6.7%. Like quite a few of its peers in South Africa, it did well in 2008 with a return of almost 20%, and in 2009 with 17%.

Some of the fund's portfolio managers, along with Leila Kuhlenthal of the Peregrine Group, spoke to Opalesque's founder Matthias Knab during his recent visit to South Africa.

Big Rock was acquired by the Peregrine Group in January 200......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. With $54bn in assets, Philippines is ready for hedge funds, alternative investment products[more]

    Komfie Manalo, Opalesque Asia: With the country's outstanding fund management industry at $54bn and growing, the Philippine market and its investors are ready to invest in "more sophisticated" asset management products, like hedge funds and alternative investments, said Deanno J. Basas, presi

  2. SoftBank to buy Fortress Investment for $3.3bn[more]

    From Reuters.com: Japan's SoftBank Group Corp on Wednesday said it has agreed to buy Fortress Investment Group LLC for about $3.3 billion, looking to add investment expertise as it prepares to launch the world's largest private equity fund. The all-cash deal is SoftBank's first major investmen

  3. ...And Finally - Truth in advertising[more]

    From Newsoftheweird.com: Girl Scout Charlotte McCourt, 11, of South Orange, New Jersey, saw her sales zoom recently when she posted "brutally honest" reviews of the Scouts' cookies she was selling -- giving none of them a "10" and labeling some with dour descriptions. She was hoping to sell

  4. Europe - Brexit - Updated legal guide, Euro exchange rates set to tumble as hedge fund's super computer predicts Marine Le Pen will be next French president, Swiss fund market hits all-time high[more]

    Brexit - Updated legal guide From Herbertsmithfreehills.com: When we began analysing in depth the possibility of Britain exiting the EU (Brexit), 18 months prior to the June 2016 referendum, the business consensus was very much that Brexit was a remote prospect that either would never hap

  5. People - Gramercy appoints Bradshaw McKee as managing director of Capital Solutions, Trump taps Cerberus's Feinberg to lead intelligence review[more]

    Gramercy appoints Bradshaw McKee as managing director of Capital Solutions Gramercy Funds Management LLC, a $5.8 billion dedicated emerging markets investment manager, today announced the appointment of Bradshaw McKee to the position of Managing Director, Capital Solutions and Distressed