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Alternative Market Briefing

Peregrine figures show South African hedge funds are bucking the trend

Wednesday, June 06, 2012

Beverly Chandler, Opalesque London: South African based provider of prime services and wealth manager, Peregrine Holdings, has revealed end May estimated returns for their portfolio of South African equity-centric hedge funds, relative to the performance of the market. Peregrine’s Ruth Forssman comments: "Hedge fund returns were flat in a weak month for markets, with market neutral funds returning a credible 0.5%. This performance was sufficient to allow our weighted hedge fund return to open up some outperformance against the broad equity market indices, which suffered a significant pull-back on the month".

South African hedge fund returns, calculated from those funds serviced by Peregrine Securities Prime Services, showed that on an asset weighted, before fees, basis, total equity hedge funds achieved a return of just 0.07%, while specifically long/short equity hedge funds lost 0.02% over May. Market neutral returns in the sector achieved 0.52% returns over the month.

Looking at the year to date figures, before fees, South Africa appears to be bucking the trend in hedge funds globally with returns of 9.6% for total equity hedge funds, 11% for long/short equity hedge funds and 2.6% for market neutral equity hedge funds.

Forssman commented: "May saw substantial weakness across all sectors, as European worries returned to centre stage. A few points are worth noting in interpreting where market......................

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