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From Sagar Chakraverty, Opalesque Asia:

The South African hedge fund industry although relatively young compared to other developed markets, managed to weather the 2008 storm. While it bore the brunt of the global crisis to some extent, returns during these periods were convincing and the wholesale redemptions experienced in international markets were not felt as much locally.

South Africa Alpha Capital Management (SAACM), a Cayman-incorporated, segregated portfolio company, is one such fund management entity that is part of the growing South African (SA) hedge fund industry. SAACM offers dollar-based access to a range of hedge funds investing predominantly in South Africa through a platform.

Peregrine Prime, one of SA’s largest prime brokers, is the prime broker to the SAACM funds. Peregrine said that December was the best month for SA hedge funds, as they went up 3.42% on average. The Peregrine Prime Hedge Fund Index was up 22.15% for 2009.

December 2009 returns

- 36ONE Offshore Portfolio The 36ONE Offshore Portfolio saw December as the best month when returns were up 3.62% (26.5% YTD) and the return since inception in May 2008 was 49%. On the long side, performance was bolstered by industrial transportation, media, and investment holding company sectors. General retailer and financial services sectors were performan......................

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