ASISA’s refreshed approach to the 2023 hedge funds statistics

On Tuesday I was invited to attend a media conference at the Association for Savings and Investment South Africa (ASISA), where the organisation introduced its Transformation Report, amongst other things. It detailed the progress made by ASISA members between 2018 and 2022 and revealed that both life offices and asset managers had made encouraging strides towards achieving the relevant trans-formation targets set by the amended Financial Sector Code.In addition, the local collective investment schemes statistics for the fourth quarter and the year ending December 2023 were released. My colleague Stephen Cranston covered all the newsworthy trends in detail here.Today’s podcast, however, will focus on the local hedge fund industry and the latest statistics presented by Hayden Reinders, chair of the ASISA Hedge Funds Standing Committee and Head of Business Development and Client Management at Prescient Fund Services at the conference.The SA hedge fund industry attracted record net inflows of R6.24bn in 2023 and grew its assets under management to R137.9 bn (excluding fund of funds). These assets are invested in 213 hedge funds, which are managed by 11 hedge fund management companies.ASISA showed that the industry recorded healthy net inflows for the second consecutive year. Net inflows in 2022 amounted to R4.54 billion.Listen to Citywire SA and Reinders further unpack the stronger uptake of hedge funds in SA, and ASISA’s fresher approach in presenting the data behind it.