Key Takeaways
- • Novare Investments' Mayibentsha Opportunities Fund won the "Best Emerging Market Fund of Hedge Funds" award at HMFWeek's US Performance Awards 2009, recognizing excellence in emerging-market fund-of-funds management.
- • Carla de Waal, portfolio manager at Novare and member of the Mayibentsha team since the fund's 2003 inception, accepted the award in New York, highlighting the fund's role as a critical interface between individual hedge fund managers and institutional investors.
- • Novare emphasized that funds of hedge funds serve as essential governance gatekeepers in the South African hedge fund ecosystem, providing scrutiny, reporting standards, risk oversight, and manager selection across a market of 150+ hedge funds.
- • The Mayibentsha Opportunities Fund targets long-term returns of CPI+2.5% over rolling three-year periods, positioning itself as a qualified investor vehicle in the South African market.
- • The award signals the maturation of South Africa's hedge fund industry and its institutional-grade operational and governance standards.
Summary
Novare Investments secured a significant recognition in the global hedge funds space when its Mayibentsha Opportunities Fund received the "Best Emerging Market Fund of Hedge Funds" distinction at HMFWeek's US Performance Awards in 2009. The award underscores Novare's competitive positioning in the fund-of-funds sector and validates its investment approach across the emerging-market hedge fund landscape.
Carla de Waal, portfolio manager at Novare and a core member of the Mayibentsha fund team since its inception in 2003, traveled to New York to accept the award. In her remarks, de Waal articulated the strategic importance of funds of hedge funds as intermediaries within the South African investment ecosystem. She noted that these vehicles have functioned as primary capital allocators to domestic hedge fund managers, effectively shaping industry standards and investor access to a fragmented manager base exceeding 150 funds.
De Waal emphasized that Novare's fund-of-funds platform delivers tangible value through three mechanisms: rigorous manager selection and due diligence, establishment of institutional-grade reporting and governance frameworks, and continuous risk management oversight of underlying portfolios. She characterized this award as indicative of the growing sophistication and maturity of the South African hedge fund industry, which has progressively aligned its operational practices with international institutional standards. The Mayibentsha Opportunities Fund operates with a stated objective to deliver CPI+2.5% in excess returns over rolling three-year investment horizons, positioning it as a qualified-investor vehicle targeting institutional allocators.
Carla de Waal, portfolio manager at Novare and a core member of the Mayibentsha fund team since its inception in 2003, traveled to New York to accept the award. In her remarks, de Waal articulated the strategic importance of funds of hedge funds as intermediaries within the South African investment ecosystem. She noted that these vehicles have functioned as primary capital allocators to domestic hedge fund managers, effectively shaping industry standards and investor access to a fragmented manager base exceeding 150 funds.
De Waal emphasized that Novare's fund-of-funds platform delivers tangible value through three mechanisms: rigorous manager selection and due diligence, establishment of institutional-grade reporting and governance frameworks, and continuous risk management oversight of underlying portfolios. She characterized this award as indicative of the growing sophistication and maturity of the South African hedge fund industry, which has progressively aligned its operational practices with international institutional standards. The Mayibentsha Opportunities Fund operates with a stated objective to deliver CPI+2.5% in excess returns over rolling three-year investment horizons, positioning it as a qualified-investor vehicle targeting institutional allocators.
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