New funds post positive returns

Despite the performance of long/short equity this year, two European entrants to the sector have posted positive returns for their first month of trading. The sector is down 5.1% according to the CSFB/ Tremont hedge fund index but the LG Europe Plus fund, a long/short European equity fund is up just over 2.5% since inception. Ex-Johnson Fry fund manager Rupert Morrell manages the fund that began trading on the 3 September 2001.

Another new long/short European equity fund is Deco Capital's