The skill of good old-fashioned stock-picking came to the fore in Europe’s hedge fund industry in 2015, a year in which the much-sought-after double-digit return eluded many of the sector’s other strategies.

Multibillion-pound long/short equity funds run by the likes of Lansdowne Partners, Marshall Wace and Pelham Capital all comfortably made double-digits; the 16.9% delivered by the $12.1 billion Lansdowne Developed Markets fund, managed by Stuart Roden, Peter Davies and Jonathon Regis, was one standout performer.