John Hempton, one of Australia’s highest-profile hedge fund investors, says he is reviewing his strategy at Bronte Capital after the firm recorded its worst monthly returns in more than two years, according to a report by the Australian Financial Review.
The report cites an investor note as revealing that Hempton said Bronte Capital had posted a 5.6% decline in September because of “sharp mismatches” in the fund’s long and short holdings.
The firm is now reportedly reviewing its strategy to look for new ways to minimise risk as global share markets continued to charge higher, squeezing the fund’s short positions, he added.
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