Few funds in the European long/short equity space have managed
to steer their investors through the very difficult market
conditions this year better than Melchior European - the $1
billion five-year-old strategy run by a team at London-based
Dalton Strategic Partnership led by former Goldman Sachs and
GLG man Leonard Charlton.
The fund is up by 10% this year to the end of September,
having made money in each of the past eight months of a torrid
year, and has just completed a very impressive five-year track
record through a period of exceptional volatility and challenge
in European equity markets.
Since launch in October 2006, Melchior European has
generated a total net return of 56.58% - against a drop of
28.56% in the MSCI pan-European index - and an annualised
return of 9.5%, despite maintaining a low average gross
exposure of 107%.
Annualised volatility since inception has been...