Dalton Strategic Partnership’s Melchior Selected Trust: European Absolute Return Fund has reached its latest significant milestone, with AUM reaching over $275 million.

The fund, which invests in a universe of 1,500 all-cap companies across Europe and uses leverage conservatively, returned 8.98% (in Euro terms) since launch in February 2010.

Commenting on the fund’s growth, Magnus Spence, Partner at DSP, said: “The Melchior Euro UCITS Fund goes from strength to strength as investors continue to seek out a Fund that has a demonstrable record of preserving capital in weak market conditions and participating in returns from positive markets.

“Leonard himself has attracted a fair amount of attention recently as his shorting abilities are in high demand during these volatile markets. The MSTEARF, under Leonard’s stewardship and benefiting from the talent of his experienced investment team, can make a legitimate claim to offer investors consistent and reliable returns no matter what the markets are doing.”

Fund Manager, Leonard Charlton, added: “Our singular focus remains producing good, risk adjusted returns irrespective of equity markets. We are excited by the opportunities that the European equity market offers for long and short stock picking in 2011. ”