Long/shorts stumble as macro sentiment worsens


A month dominated by poor sentiment regarding the macro outlook saw mixed results among Europe’s long/shorts, with some of the big names down again.

Of those that did well, Hugh Hendry was up 4.63% in May to take Eclectica to a 5.18% gain over three months, while Cazenove Leveraged UK Equity gained 3.7% to put three-month figures at 5.13% and Alken Capital One Fund rose 2.54% putting three-month figures at 13.79%. Giano Capital was up 2.21% to take three-month numbers to 3.75% and Theorema Europe gained 2.02%, bringing three-month figures to 3.7%.

Some of the small-cap focused funds