Funds in the HedgeNews Africa database experienced varying fortunes in 2020 – with many seeing their biggest return swings on record, yet overall delivering a credible return series in a tumultuous year.

Fixed income was the best performing category during the year, followed closely by market neutral and quant funds, while long/short equity and multi-strategy categories had a tougher time.

As is often the case in stressed markets, underlying funds delivered a wide-ranging set of returns – with some exceptional returns at individual fund level. This brings highly competitive shortlists for our 12^th annual Awards.

The Awards are based on 2020 calendar-year returns. Funds that submit their returns to our database are automatically considered. To receive a nomination, funds need a minimum of R80 million under management (or $10 million in the case of dollar-based funds), or R160 million in the longer-term categories.

The Awards are based on risk-adjusted return – in order to win in their categories, nominees must have a Sharpe ratio that is within 25% of the top Sharpe amongst the nominees.

Data used in deciding the Awards is independently verified by eComply Consultants.