WEST PALM BEACH, FL (HEDGECO.NET) – A new study conducted by Nedcor Retail Investments showed that all the South African hedge funds participating in the survey, posted positive returns for the pastconsecutive 24 months. The survey was launched last December, according to Lizella Stevn, a technical product manager at Nedcor Investments.
A total of 24 hedge funds took part in the study; total assets managed by such group represents nearly half of the total of about Rand 7 billion being managed by the South African hedge fund industry. Stevn said, �As a combined index, the participating hedge funds have never experienced a month of negative performance over the past two years, [while] the FTSE/JSE Africa all share index has experienced 14 such months.�
Such a performance according to Stevn represents a small period, but it also shows how resilient the South African hedge fund industry has been against downward swings. He said, �Although it is only a small period of performance measurement, the combined index of participating South African hedge funds has given a glimpse of its resilience to downward swings in the equity market� according to Stevn.
Peregrine Capital’s High Growth fund was the best performing fund, with a 64 percent return over the past 12 months ending March, according to the study. Old Mutual Asset Manager’s R900 million hedge fund, the largest in the survey by assets, had a 12-month return of 6.3 percent, while Decillion’s R271 million Headland Capital fund, the second largest, delivered a return of 25 percent over the same period.
The South African hedge fund regulator [FSA] continues with its hedge fund liberalization efforts. The South African hedge fund industry is projected to see accelerating growth over the coming years according to industry analysts.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
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