Long/shorts diverge as markets turn more tricky


October saw much more difficult equity market conditions than those that prevailed in the third quarter. As a result, the returns from Europe's long/short managers were mixed - and several appear to have been caught out by the late-month sell-off in financials.

Of those that had a good October, Antares European was up 3.49% on the month - taking year-to-date numbers to 26.58%. Mako Europe saw a monthly gain of 2.1%, bringing YTD figures to 26.02%, while AlphaGen Volantis was up 1.74% for October which left 2009's returns at an impressive 47.07%.

EV Smaller Companies Fund was up 1.1%, taking