Colin McLean's Highlander long/short equity hedge fund has trounced its rivals with total growth of 107% in the three years since inception in April 1999.

The result compares to a fall of 6.7% in the FTSE European index. In calendar 2001, Highlander, part of Scottish Value Management (SVM), produced 11.2%. It can boast 11.7% in the first four months of 2002.