欧洲股市

Managers hail return of hedge fund profits

Leading hedge fund managers are reaping some of their biggest profits in years with many now hopeful that 2013 will prove to be a turnround year for the troubled industry.

The first quarter is likely to be one of the strongest yet for some hedge funds, in spite of a host of macroeconomic concerns worrying many mainstream investors. European equity focused hedge funds have fared particularly well.

Lansdowne Partners, Europe’s largest equity hedge fund manager, has seen its flagship vehicle rise 7.75 per cent in the first two months of the year. The fund has profited from bets in Lloyds Bank and retailer Ocado, according to an investor.

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