Bronte Capital’s John Hempton rethinks hedge fund after horror month
Bronte Capital’s John Hempton, one of the country’s highest-profile hedge fund investors, says he is reviewing his strategy after his firm recorded its worst monthly returns in more than two years.
In a note to investors, Mr Hempton said Bronte Capital had posted a 5.6 per cent decline in September because of “sharp mismatches” in the fund’s long and short holdings. The firm was reviewing its strategy to look for new ways to minimise risk as global sharemarkets continued to charge higher, squeezing the fund’s short positions, he added.
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