February 2, 2012 / 4:25 PM / 8 years ago

Lansdowne flagship UK hedge fund up 5.7 pct in Jan

LONDON, Feb 2 (Reuters) - Lansdowne Partners, one of Europe’s biggest hedge fund managers, saw its flagship UK fund return 5.7 percent in January, in a sign the industry is benefiting from a rebound in financial markets this year after a torrid 2011.

The gains come after the fund, which is run by Stuart Roden and Peter Davies and which made millions shorting banks during the financial crisis, lost around 20 percent in 2011 when some bets on financial stocks turned sour.

Lansdowne, which runs around $16 billion in assets as at last year, declined to comment.

Across the industry hedge funds have profited this year, gaining 1.72 percent in January according to Hedge Fund Research’s HFRX index. The average fund lost 5 percent last year, according to HFRI.

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