Better Capital, the UK-listed turnaround fund founded by industry veteran Jon Moulton, has acknowledged its 2009 fund is going through a “difficult” period, after the group unveiled its latest set of results.

In the group's annual report, published on July 30, the turnaround specialist said the performance of companies in its first fund had "affected shareholder confidence". The results come five months after Better Capital released an interim statement to warn shareholders that many of its companies were performing "significantly below expectations".