The last two or three years have seen unprecedented levels
of volatility in the European equity markets - with uncertainty
spiking again in recent weeks amid mounting concern about the
future direction of the global economy, the financial system
and world markets.
Many hedge fund managers have been thrown off course as a
result of the rollercoaster ride, while others have thrived in
the turbulence. Very much in the latter category is Jesper
Uttrup, the well-regarded former Danske Bank man and founder of
Copenhagen-based Uttrup Financial Advisors.
Volatility is a major part of Uttrup's MO. His Cresco Fund
is a European long/short equity strategy driven by concentrated
directional bets, which accepts a high degree of volatility in
the pursuit of high returns.
The fund has significantly outperformed since launching in May
2007, but a closer look at its track record shows double-digit
monthly gains and, on occasion,...