(Reuters) A bigger bet on European stocks in the last quarter helped U.S. hedge fund Viking Global Investors improve returns after a difficult start to the year.”Notably, both net and gross exposure to European companies increased by 11 percentage points as we added longs in several sectors,” the hedge fund told investors in a quarterly letter dated Oct. 14 and seen by Reuters on Monday.
Viking’s flagship Viking Global Equities fund is now roughly flat for the year, trailing the HFRI Composite Index’ 4.15 percent gain. During the third quarter, Viking’s 5.7 percent gain helped wipe away much of the first quarter’s 8.3 percent drop.
