Long/shorts mainly advance in choppy month


September was a tricky month for long/short European equity managers: the market run-up that followed positive moves by the Fed and the ECB was offset by a sell-off as the quarter drew to a close. With nine months of the year now elapsed, the median is up 3.81% in US dollar terms.

Some funds in the sector managed good returns: Sandbourne was up 9.21%, taking year-to-date numbers to 12.32%, while Henderson Gartmore UK Small Cap Best Ideas gained 5.65% on the month, putting YTD figures at 24.59%.

One of the best performers this year among the big funds,