Equity markets get tricky in April, worse in May


April presented a turbulent macro-economic climate for European equity markets, with apparent signs of recovery in the US offset by growing fears over the Greek and wider Eurozone debt crisis.

Not surprisingly, returns from Europe's long/shorts were widely dispersed - as demonstrated by a flat median return on the month of 0.00% - and many funds are likely to have been hurt in May's renewed outbreak of market turbulence.

It was a good month for some of Europe's veteran managers. Among the leaders was Mark Bradshaw's Victory Fund, up 5.5% to take three-month numbers to -0.99%, while Geoff