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Komfie Manalo, Opalesque Asia:

Hedge funds serviced by South African prime brokerage firm Peregrine achieved moderate positive gains for the final month of the year, a pleasant change from the recent set of consecutive drawdowns.

Peregrine said in its monthly report, "We touched briefly on the complexities of a (new) world which sees US President Donald Trump at the helm and a European Union facing a future sans Britain; both these political events continue to dominate headlines but with the initial shock receding as Trump selects his cabinet and Theresa May starting to outline her strategy for Brexit, and the markets begin to digest the likely impact.

"Locally, the All Share Index had a rather topsy-turvy month, starting out on the back foot but surging ahead mid-month, only to then fall back somewhat to end the month on a positive note at +1.0% to the good."

Looking closer at sectoral indices, Peregrine said that financials lead the way with a strong +3.2% gain for the final month of the year, pushing the sector's YTD to end the year up +3.6%. Next up were industrials who also posted a good set of results, +1.8% added for the month which at least allowed the sector to end the year slightly better off for the YTD but still well in the red at -8.5%. Finally resources, who have been the standout performer for the year, shed a substantial -3.7% for the month of December but do however manage to retain wha......................

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