Stock selectors will perform best

Going forward, the better managers of equity market neutral funds will be those who use intensive bottom-up stock selection techniques, says one of the top performers in this basket of funds from Standard & Poor's. Ranked number five, American Market Broad Master ' a proprietary fund of Tremont Advisers based in Rye, New York ' is up 54.08% over three years. The basket as a whole has risen about 30% from 1 May 1998 to 1 May 2001. Barry Colvin, chief operating officer at Tremont, said: 'Recent conditions have favoured long/short equity fund managers who are careful stockpickers and we ex...