Dalton’s Charlton shines in hard markets over five years with Melchior European

Fri Oct 21, 2011



Fund has enjoyed an enviable track record through a period of exceptional volatility and challenge in European equity markets


Leonard Charlton
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...

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