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Alternative Market Briefing

Novare Investments’ South African hedge fund survey asks: 'What will boost assets in the sector?’

Tuesday, October 01, 2013

Beverly Chandler, Opalesque London:

Novare Investment’s tenth edition of the South African hedge fund survey is a snapshot of all things pertaining to the South African hedge fund industry as as 30 June 2013. The data is drawn from 55 South African funds and includes 107 different mandated single strategy hedge funds. Highlights include:

  • The local hedge fund industry has surpassed the R40 billion assets mark, reaching a new all-time high.
  • 13 new funds were launched during the 12 months to end June, while 15 funds returned investor capital.
  • Equity long/short funds continued to dominate the local hedge fund industry with more than half of industry assets managed within this strategy.
  • The ten largest hedge funds as at 30 June 2013 managed 42.9% of total industry assets.
  • There is a rising trend amongst managers offering investors the option of investing in a share class charging a lower (or even zero) management fee, in combination with a higher performance fee.
  • Hedge funds with a track record exceeding eight years manage more than 50.0% of industry assets.
  • The equity long/short strategy was the best performing category over the period. Compared to exposure levels from a year prior, these funds on average also had higher gross and net equity market exposure levels over the past 12 months.
  • Close to half of the industry make use of an external or in......................

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