Bulls ride high as the equity market rally rolls on


As European equity markets continued to rally in May, the hedge fund world's sceptics were left trailing behind those who were buoyed by the liquidity-fuelled upswing.

Matrix New Europe was up 17.64% in May to bring three-month returns to 57.2% while Lucerne Capital was up 16.09%, bringing three-month numbers to 53.04%.

Odey European put on another 8.59% for a three-month return of 46.04%, while Stephen Peak's Henderson European continued its impressive bounce-back with a 12.04% gain putting its return for the year at almost 50%.

Rupert Dyson's SR Global Europe gained 15.1% to bring three-month returns to 26.98%, while AlphaGen Volantis