Returns rack up as long/shorts ride the upswing


At the end of the third quarter of 2009 the returns for most of Europe's long/shorts are looking very robust, although a few players have been wrong-footed by the equity markets' continuing strong rally.

Stephen Peak's Henderson European was up 7.8% in September to leave year-to-date numbers at 114.97% while Lucerne Capital Offshore saw a 10.18% monthly gain take the year's figures to 102.69%.

Habrok Delta Fund Europe was up 6.95%, taking YTD figures to 65.56%, and Sandbourne Fund was up 5.81% on the month to leave the year's numbers at 49.46%.

A number of veteran managers have made hay this