South African hedge fund AUM up 30% in 2022

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The South African hedge fund industry saw growth in assets under management of 30% in 2022 finishing the year with AUM of ZAR113.01 billion (£5.07bn), up from ZAR86.92 billion (£3.89bn) at the end of 2021, according to a report by IOL.

The report cites Hayden Reinder, the convenor of the Association for Savings and Investment South Africa's (Asisa) hedge funds standing committee, as highlighting that the industry had had to endure several lean years following the implementation of crucial reform initiatives.

The number of hedge funds in South Africa has now remained static for the last two years at 216.

“Seeing strong growth numbers for the industry is a welcome development and hopefully indicates that hedge funds in South Africa are increasingly being accepted as an important investment tool in mitigating market volatility,” said Reinders.

South African hedge funds attracted net inflows of ZAR5.33 billion last year compared to just ZAR0.59 billion in 2021, while net outflows of ZAR2.45 billion were seen in 2020.

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