Lucerne roars back with value approach to European equities

Fri Oct 23, 2009




Based in New York and Amsterdam, Pieter Taselaar and Thijs Hovers adopt a long-term strategy to mid-cap long/short equity investing that comes with a fair degree of volatility

Although many hedge funds that lost money in the market freefall last year have recouped at least some of their losses this year, very few have bounced back as sharply as Lucerne Capital Management.


Pieter Taselaar and Thijs Hovers


The US and Amsterdam-based manager of deep value long/short European equity hedge funds has gained a stunning 103% this year to the end of September in its flagship Lucerne Capital Offshore fund.

The astonishing rebound comes after a poor performance in 2008. In an extraordinary difficult year for virtually every hedge fund strategy, managers of fundamentally focused and value-based equity funds were particularly hard hit.

Lucerne was no exception, falling nearly 44% last year - with the heaviest losses occurring in...

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