Ex-MAM, RAB man Darell-Brown rides bull rally as stock-pickers fly
Mon Feb 27, 2012
Short-term volatility targets can destroy returns by forcing managers to sell at the wrong times and at bad prices. Our belief is that alpha, in its purest sense, is derived from stock selection – not from market timing
Few long/short European equity funds have recovered more
swiftly from losses in the painful third quarter of last year
than Brown Vanneck Europe - the fundamental stock-picking
strategy run by ex-Mercury Asset Management and RAB Capital
equity veteran Mark Darell-Brown.
Having dropped almost 20% in August and September 2011 -
with much of the 9.5% September loss coming from a single short
position in a UK software company - and after experiencing a
total drawdown of almost 22% from inception in December 2010 to
the end of September last year, the fund has since staged a
It gained almost 9% in the final quarter of 2011 - cutting
the calendar-year loss to 14.5% - and has been flying since the
start of this year. The fund was up 12.16% in January and
ISSN: 2151-1845 / CDC10004H
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