Trident European Fund (JO Hambro) - European equity long-short strategy

The Porsche/Volkswagen fiasco was the straw that broke this fund's back:

The $240 million Trident European Fund dropped 25 percent in October, its worst month since starting a decade ago, mainly after a bet on a drop in Volkswagen shares went awry, said the people, who declined to be identified because the firm doesn't disclose returns. The fund has slumped 39 percent this year after posting average returns of 8.4 percent annually since its inception.

Poor performance, dollar gains sapping European investment returns and investors moving assets from medium-sized companies all contributed to the fund's closure, Suzy Neubert, a spokeswoman for JO Hambro in London, said in an e-mailed statement.

Check out the Bloomberg article for more. It notes that EuroHedge's index of Long-Short European equity hedge funds (the fund class of Trident) dropped 1.7 percent in October, suggesting that the Hambro fund did indeed stand out from the crowd-- in a bad way.