Tosca, the London-based hedge fund group headed by Martin
Hughes, appears to be mounting what some may see as an unlikely
turnaround - although the firm itself has been arguing
vigorously for months that a "dramatic" turnaround was not only
likely but certain.
After several years of solid gains, the firm's original
financial sector-focused flagship fund was one of the
industry's highest-profile victims of the credit crunch last
year, suffering a loss of about 65%.
Its comeback began with...