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Alternative Market Briefing

South African hedge funds performed well in June

Friday, July 11, 2014

Komfie Manalo, Opalesque Asia:

Hedge funds serviced by Peregrine Holdings’ unit Peregrine Capital performed well for June, much in line with positive market sentiment all around.

Resources led the way this time, on the back of a very welcome end to the crippling local strike albeit with great cost on all sides - leading many to view it as a pyrrhic victory. This sector added +3.5% for the month taking its YTD figure to +13.5%.

Industrials and Financials also did well, with Industrials returning +2.8% for the month (translating into a YTD figure of +10.5%) and Financials +2.7%, leaving its YTD figure now at +16.4%. The All Share in consequence performed strongly, recording +2.8% for the month resulting in a YTD figure sitting at +11.8% as we reach the years midpoint.

At the start of 2014, Peregrine reported that its South African hedge funds closed last year on high note, adding further gains consistent with strong market performance on all fronts. Industrials were ahead of the pack at +4.3% in December (+38.1% YTD) followed by Financials at +2.9% during the same month (+19.8% YTD). These sectors thus continue a remarkable period where, spanning 24 months, returns of +98.1% and +64% respectively have been achieved.

Warren Chapman of Peregrine Capital sa......................

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