European volatility offers funds a chance to prosper

The recent volatility of European markets has presented both opportunity and risk for the region's fund managers.

Having sold down heavily at the end of September on the back of news that the dollar would be allowed to drop further, hedge funds rallied in October.

As a result, Mike Nicol, lead manager of Martin Currie's European long/short fund, had a poor September. Nevertheless, he remains poised for a market recovery, believing that European exporters reacted too sharply and oversold on the dol

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