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...