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,...