A run of strong returns over the past two years has prompted hedge fund boss Bob Bishop to close Impala Asset Management and covert to a family office, according to a report by Bloomberg.

A run of strong returns over the past two years has prompted hedge fund boss Bob Bishop to close Impala Asset Management and covert to a family office, according to a report by Bloomberg.

Impala has benefitted from recent bets on energy, industrials and materials, as well as shorting technology stocks this year. 

The Florida-based firm's main hedge fund is up 11 per cent so far this year having posted gains of 64% since the start of 2020, according to a letter to investors. The fund has generated an annualised 11.7% since its April 2004 inception, beating the S&P 500 by more than 2 percentage points, while a smaller natural resources-focused fund which debuted in August 2016, has returned about 22% annualised, compared with 13.7% for the S&P benchmark.