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
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