One of the more remarkable developments in South Africa's financial sector has been the dramatic growth of the country's hedge fund industry. For readers unfamiliar with post-apartheid changes, this surprising news may go some way towards eroding widespread images of an emerging economy best known for mineral deposits and nature reserves.
Over the past three years, South Africa's hedge fund assets have been expanding at an impressive annual rate while new investment talent continues to flow into the industry - either to join successful, established firms or launch their own sophisticated...