It was a fairly docile month for equity markets as reflected in the returns of long/short equity managers. Equity returns have dampened so far in 2004 compared with 2003, with the S&P posting a modest 1.22% gain for February, while the Nasdaq fell 1.76%, showing mixed results for U.S. equities.
There were few outliers in percentage terms of individual strategies. Viking was up 1.40% through mid-March. On the global equity front, fellow Tiger cub Lee Ainslie's Maverick fund posted a 2.19% gain, bringing its year-to-date total to 4.43%. Another strong performer was the Chilton International Fund BVI Ltd