While many long/short equity firms have struggled in 2010,
it has been a good year for small-cap specialist Ennismore. The
firm's flagship Ennismore European Smaller Companies hedge fund
is up by 11.89% for the year to date and is set to re-open to
new investment for the first time in nearly 12 years.
Tom Hearn, Geoff Oldfield and Leo Perry
Launched in January 1999, the firm is one of Europe's veterans:
its hedge fund was Europe's first specialist small-cap
long/short portfolio, and the UCITS III fund, which follows a
very similar strategy, was one of the first in its sector.
Set up by Geoff Oldfield and Gerhard Schöningh, who had
previously run long-only money together at Barings, the firm's
long-term track record speaks for itself, with both funds
showing net annualised returns of around 15% since inception.
Even more impressive, the funds have never used...