Long-biased funds are back on track

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Following a dramatic summer of gains, investors might be regretting their decision to dismiss long-biased funds

Equity managers are back. And a group who have struggled through the bear market are now notching up impressive performance and starting to pose awkward questions for investors who had dismissed them as 'has-been' long-only players. Today, they appear to be full of life while many of the so-called 'real' hedge fund managers, like Steve Mandel, Lee Ainslie and Andrea Halvorsen, are looking distinctly out of form.

As the legends struggle, those unashamedly long-biased funds are on a charge. Ardsley, Cumberland Associates, Galleon Technology,