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Komfie Manalo, Opalesque Asia: South Africa’s equity-centric hedge funds posted double-digit gains last year outperforming most of their Western peers which sustained heavy losses under extreme market conditions. Peregrine’s Total Equity Hedge Fund gained 19.94% last year and survived December up +.13%.
Hedge funds serviced by Peregrine Securities performed fairly well at the end of a volatile year, remaining in the black for the month despite all sectors on the local bourse spending a second month in the red.
Looking at the sectoral indices, while all were down, industrials proved the most resilient, ending down a marginal -0.1% for the final month of the year. Industrials ended the year overall up +17.9%. Resources did not see a bounce from their previous difficulties, with the sector recording another loss for the month of -1.9%. This leaves the sector’s YTD at a disastrous -36.4%.
Warren Chapman of Peregrine Securities said, "We return to our two primary hedge fund styles where equity long-short funds performed relatively well to remain in the black, with a marginal +0.03% for December (following +1.66% for November) while market neutral funds continue to gain at +0.85% for December (post the +1.17% gained in November). We see the two styles ending the year very healthily at +20.57% and +14.72% respectively."
He added that financials were the weakest performers last month, down a s...................... To view our full article Click here
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