A year to forget for most European equity funds

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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 post reasonable gains.

Melchior European was up 12.79%, while Cazenove UK Equity Absolute Return ended the year up 10.11%. JP Morgan Europe Dynamic posted a 9.56% return and Zebedee Focus