Why real hedge funds will still be wanted in the new world order


By Neil Wilson

Jabre Capital, the Geneva-based firm headed by former GLG partner Philippe Jabre, completed an astonishing turnaround in July. The firm's flagship JabCap Multi Strategy fund, one of the most prominent victims of the liquidity crunch in Europe during 2008, was up more than 15% for the month, putting it ahead by close to 60% for the year to date in 2009. After suffering a painful drop of 36.4% last year, this superior July performance also meant that the fund had recovered those losses and more—it is now,