Bronte Capital, the hedge fund led by prominent Australian investor John Hempton, has posted one of its strongest recent quarters, with gains driven largely by successful short positions amid turbulent global markets, according to a report by the Financial Review.
In a note to investors, Hempton reported that the firm’s Amalthea Fund rose 4.56% for the quarter, significantly outperforming the MSCI All Country World Index, which declined 2.21% over the same period.
Despite the solid quarterly result though, the fund experienced a 3% decline in March, underscoring the continued volatility across global equities.
Hempton attributed the outperformance to the fund’s short book, which capitalised on weakness across select overvalued or structurally challenged companies during the quarter’s market swings.
