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Komfie Manalo, Opalesque Asia: Hedge funds serviced by Peregrine Holdings’ unit Peregrine Capital ended March on a positive note,
adding further gains consistent with strong market performance on all
fronts. "We show an equally-weighted average in addition to our standard
asset-weighted average returns, in order to display a number less
influenced by the performance of the largest funds," Peregrine said in
its monthly report.
Peregrine added that the South African hedge funds are making good
inroads towards turning around the substantial cumulative net losses
incurred in the first two months of the calendar year. Market sentiment
was very positive, with the All Share Index starting the month strongly
and holding the gains to finish a healthy +6.4% on the month. The
positivity extended to all major sectors, with all ending the month over
4% into the black.
A closer look at the sectoral indices reveals financials outperforming
the pack with a convincing +12.4% gained, pushing its YTD figure well
over the line to +5.4%. Industrials and Resources came in neck and neck
for next best sector, returning an identical +4.7% for the month,
resulting in a YTD for the former of -0.7% while resources, the only
sector to start the month in positive terrain, saw its own YTD rise to
+12.4%, an impressive result especially given the strengthening of the
rand against the dollar which began at the midway point ...................... To view our full article Click here
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