CopperTree Mustang down 45%, other players stumble in global equity weakness


Most global equity funds produced flattish returns in February, with the vast majority in a band between +1% and -1%. But there were one or two big outliers - none more so than David Atkinson's CopperTree Capital, whose small Mustang fund nosedived 45%.

CopperTree Mustang, an eclectic and highly concentrated portfolio of private and public equity investments, had already had a lively track record from June 2006 - gaining 59% in its first seven months in 2006 and 19% in 2007 before starting to ship water.

It was down by 6.6% in 2008 and by over 13% last year -