•  
• Tweet
•  
•        Print
•  
•         Track Keywords
•  
• 

Komfie Manalo, Opalesque Asia:

South African equity-centric hedge funds returned modest gains in the first quarter of the year, edging the performance of the average hedge funds across the globe.

Hedge funds serviced by Peregrine were marginally up in April, concomitant with mostly positive market sentiment amongst the local bourse's sectors. Industrials stand out as the top performer for the month when taking a closer look at the sectoral indices with a very good +4.7% for March. This translates into +7.1% for the sector YTD while resources were also strong with +3.3% gained for the month, seeing it's YTD move over the line and into the black at +1.9%.

Financials still seem to be taking pain however, a second consecutive down month albeit marginal at -0.9% means it's YTD currently stands in the red at -1.9%. Comparatively, the HFRI Fund Weighted Composite Index (FWC) advanced 0.24% during the same month and capped the first quarter up 2.3%.

"Kicking on from the previous month's fiscal announcements and effectively ending the financial year, locally most of March was driven by political storms, while further abroad, Europe moved into a potentially volatile political year with France kicking off the first round of elections," Peregrine said in its monthly report to investors.

It added ......................

To view our full article Click here