Key Takeaways
- • Novare Investments won the HedgeNews Africa Awards 2020 Fund of Hedge Funds (FoHF) category for its Novare Mayibentsha Moderate Qualified Fund, recognized at the digital awards ceremony held on March 4, 2021.
- • The winning fund delivered a 13.07% net return for 2020 with a Sharpe ratio demonstrating risk-adjusted performance that met the award's stringent qualification criteria, which require nominees to submit monthly results to the HedgeNews Africa database.
- • The Novare Mayibentsha Moderate Qualified FoHF, originally established in 2003 and relaunched as a regulated fund in 2016, targets a long-term objective of South African CPI plus 3.5% over rolling three-year periods as its benchmark and hurdle rate.
- • Portfolio Manager Kagiso Mathole attributed the fund's consistent success to a diversified hedge fund strategy emphasizing multiple sources of returns, combining long-term wealth preservation with performance benchmarking.
- • Award selection criteria require independent verification by eComply and mandate that nominees' Sharpe ratios fall within 25% of the highest-performing nominee in their category, ensuring rigorous peer comparison and risk-adjusted return evaluation.
Summary
Novare Investments, a subsidiary of Novare Holdings and a premier African investment solutions provider, secured the coveted Fund of Hedge Funds award at the HedgeNews Africa Awards 2020. The recognition was announced at a digital awards ceremony held on March 4, 2021, with the Novare Mayibentsha Moderate Qualified FoHF winning the category based on its 2020 performance metrics.
The award was determined through a rigorous evaluation framework requiring participating funds to submit monthly performance data to the HedgeNews Africa database. Shortlisted nominees are assessed on risk-adjusted returns for the full calendar year, with specific qualification thresholds in place. For the FoHF category, the winning fund must demonstrate the strongest absolute return while maintaining a Sharpe ratio within 25% of competing nominees' ratios. All results are independently verified by eComply, ensuring transparent and objective assessment.
The Novare Mayibentsha Moderate Qualified Fund delivered a net return of 13.07% in 2020 with a corresponding Sharpe ratio that satisfied the award's demanding comparative standards. The fund itself has substantial institutional heritage, originally launched in 2003 before being relaunched as a regulated fund in 2016. Its name—"Mayibentsha," meaning "let it be new"—reflects the fund's philosophy of continuous evolution while maintaining operational discipline rooted in Novare's investment legacy.
In his acceptance remarks, Portfolio Manager Kagiso Mathole emphasized the fund's underlying investment strategy, which combines diversified hedge fund exposure with a multi-source return approach. The fund operates with a clearly defined long-term objective to achieve South African CPI plus 3.5% returns over rolling three-year measurement periods, with this target functioning simultaneously as both the fund's benchmark and hurdle rate. This dual-purpose framework aligns investor interests with disciplined performance management across market cycles.
The award was determined through a rigorous evaluation framework requiring participating funds to submit monthly performance data to the HedgeNews Africa database. Shortlisted nominees are assessed on risk-adjusted returns for the full calendar year, with specific qualification thresholds in place. For the FoHF category, the winning fund must demonstrate the strongest absolute return while maintaining a Sharpe ratio within 25% of competing nominees' ratios. All results are independently verified by eComply, ensuring transparent and objective assessment.
The Novare Mayibentsha Moderate Qualified Fund delivered a net return of 13.07% in 2020 with a corresponding Sharpe ratio that satisfied the award's demanding comparative standards. The fund itself has substantial institutional heritage, originally launched in 2003 before being relaunched as a regulated fund in 2016. Its name—"Mayibentsha," meaning "let it be new"—reflects the fund's philosophy of continuous evolution while maintaining operational discipline rooted in Novare's investment legacy.
In his acceptance remarks, Portfolio Manager Kagiso Mathole emphasized the fund's underlying investment strategy, which combines diversified hedge fund exposure with a multi-source return approach. The fund operates with a clearly defined long-term objective to achieve South African CPI plus 3.5% returns over rolling three-year measurement periods, with this target functioning simultaneously as both the fund's benchmark and hurdle rate. This dual-purpose framework aligns investor interests with disciplined performance management across market cycles.
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