Libra shows its mettle again in another brutal downward cycle

Fri Apr 24, 2009




Since Libra's inception in 2001, co-founders Bogoni and Mee are among the few long/short equity managers who can claim to have delivered absolute returns in all market conditions

It takes a fairly brave long/short equity fund manager these days to be pledging itself on the front page of its marketing presentation to providing investors with "absolute returns in all market conditions".

Given the failure of so many hedge funds to do what it said on the tin in the wild equity market conditions of 2008, that notion has proved to be a rather hollow promise for investors in most long/short equity funds.

But Libra Equity, one of the longest-running long/short European equity operations in London, is a proud exception - and its long-term record gives its principals every right to keep adhering to a mantra that has become somewhat discredited throughout much of the rest of the...

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