European funds fulfil their promise at last

Global stock markets continued to fall during September and October, which proved to be yet another terrible month for the world's financial markets.

Once again, the damage was greatest in the new economy stocks such as technology and telecoms which fell on a global basis, led by the Nasdaq Index which fell by 13% in dollar terms during the September alone.

Despite ongoing market turmoil, hedge funds with a short bias have shown significant gains during this later part of the year, with many