All Eurozone equity managers have lost money

By Philip Haddon

LONDON (Citywire) - Almost one year on since the financial crisis hit global markets, Citywire's fund manager rankings reveal that not a single eurozone equity manager out of 257 has posted positive returns in the last twelve months.

In the eurozone equity sector in the last twelve months the Dow Jones Euro Stoxx NR index has fallen 22.3%, while the sector's average manager has lost 24.28%.

Top of the one year rankings by some distance is C-Quadrat's Wilhelm Schäfer, manager of the Europe Return Fund, who has lost just 0.82% as the market has slumped. Schäfer's fund invests in eurozone blue chips and its performance has been boosted in the last 12 months by his use of covered calls.

He is followed by Ali Moaven Nasre, manager of the Horizon Lignes de Vie PEA 2008 fund. However, this fund is expected to soon be re-classified by Lipper.

In third place is Barcelona-based Xavier Tribó, who manages the Laietana Bolsa fund at Caixa Laietana and has lost just 10.93% in the last year. His longer term performance is also good, he is ranked 4/177 in the sector over three years having returned 25.59%.

Rothschild's Dominique Jarry follows Tribó in the 12 month ranking list, having lost 12.22% with his funds Elan Euro Indice Cap and R Serenite PEA Cap. Like Tribó, his longer term ranking is also high. He is ranked 2/177 over three years.

Karl Keller from Hypo Swiss has topped the manager rankings consistently over three years, but has struggled in the last twelve months. For one year he is ranked 199/257 after his Hyposwiss (Lux) Fund - Euroland fund lost 26.85%.

The full one year rankings for the sector can be found here. The sector's three year rankings can be found here. (c) Citywire Financial Publishers Ltd 2008.