2011 was not as bad a year as 2008 - the European long/short
equity median was down 4.6% last year, compared to the 9.04%
fall in the year when Lehman went bust - but it will be
remembered as a bloody year by most managers.
As in other strategies, the European equity median spanned
an unusually wide dispersion between winners and losers, and
some funds did manage to...