This investor is riding a long-short strategy to a 41% return this year

A man runs past the New York Stock Exchange.
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Many investors like to play only the long or the short side when managing a portfolio. Mitch Rubin has played both sides of the coin to the benefit of his clients this year.

Rubin manages the RiverPark Long/Short Opportunity fund (RLSFX), which is up more than 41% in 2020 and has more than $300 million in assets. The fund has outperformed 97% of the funds in the Long-Short Equity category and is outpacing its benchmark by over 30 percentage points year to date, according to Morningstar. 

This long-short approach to investing has also led to strong returns over the long haul. The fund sports a three-year annualized trailing return of 19.6% and ranks in the second-highest percentile of its category over that time period. Over the past five years, the fund has outpaced 99% of its rivals by returning an annualized 14.9%.

Rubin broke down the fund's long and short strategies that led to its strong year-to-date and long-term returns.