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South African hedge fund survey October 200722/05/2008. Source: Novare .
 The total amount of assets under management in the South African hedge fund industry continued to show growth. The total assets under management in the industry had increased to ZAR25.9bn ($3.4bn) as of 30 June 2007, according to this survey of South African hedge funds from Novare.
The total size of the local hedge fund industry is still less than one percentage point of the local equity market - as a percentage of the market capitalisation of the FTSE/JSE All Share Index, total hedge fund assets have increased from 0.5% to 0.6% in the 12 months ending 30 June 2007.
The estimated capacity left in open funds has escalated to more than R30bn. Current managers thus estimate that there is scope to at least double the size of the industry, given current market conditions and strategies employed.
The majority of hedge fund assets are still managed in equity long/short and equity market neutral strategies. A total of 72% of all hedge fund assets are managed in these two strategies - a slight decrease from 74% last year.
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Novare is a South African investment consulting firm with offices in Cape Town and Johannesburg. For more information go to www.novare.co.za.
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