Kernow, a UK equity long/short fund, returned 4.5% in December 2022 despite a fall in the UK equity market.

Britain's domestically oriented mid-cap index, the FTSE 250 Index (which includes the 101st to the 350th largest companies listed on the London Stock Exchange), slumped 19.7% in 2022, its worst performance since 2008. Last year the UK mar