Few long/shorts avoid rout as markets turn ugly


In an exceptionally volatile month for equity markets, returns from Europe's long/short funds were widely dispersed, with the median falling by 2.48% in Euro terms to take the YTD figure to -1.29%.

Two well-known contrarians came to the fore in May: Ignis Cartesian clocked up an 11.76% gain, taking YTD numbers to 6.44%, while Hugh Hendry's Eclectica was up 1.7% for May to leave YTD returns at 10.09%.

Granada Europe gained 7.04% taking YTD numbers to 7.62% and Brummer's Futuris was up 6.7% which left YTD numbers at 10.91%, while Altos Advantage saw a 5.95% May - putting the