Former TCI partner Edgar Allen has delivered strong returns from his London-based hedge fund, with High Ground Investment Management up 5% in August, bringing year-to-date gains to 25.4%, according to a report by Financial News.

The equity long-short fund, which manages around $1.8 billion, has benefited from successful stock-picking during volatile markets. High Ground’s performance outpaced major US indices last month, with the S&P 500 up almost 2% and the Dow Jones Industrial Average gaining 3%.

Allen, who launched High Ground in 2019 after a stint as a partner at Naya, previously spent six years at Chris Hohn’s TCI Fund Management.