Former GLG manager Benn Spiers could hardly have picked a
worse moment to launch his own Camargue long/short European
equity operation, starting the fund on 1 July last year just as
the financial firestorm was beginning to explode.
Yet he has come through the baptism of fire with flair, with
the fund up by around 5% in the 13 months since launch and
gaining 17% to the start of September. He believes the
experience has provided the best possible test of his
portfolio-management and risk-management approaches.
"We launched at the worst time for the...