Charles Stucke, chief investment officer of Guggenheim Investment Advisors, sees great opportunities in Europe. Its biggest position was in equity long/short managers in the region last year.

Stucke's division sits within Guggenheim Investment Advisory, part of US financial services giant Guggenheim Partners, which grew out of the Guggenheim family office. Guggenheim Investment Advisory runs $70bn for high net worth individuals, families, endowments and foundations and supports an alternatives platform providing access to about 50 external managers.