Bronte Capital Management Pty Ltd

Overview

Bronte Capital Management Pty Ltd is an Australian-based global hedge fund manager founded in 2009 by John Hempton and Simon Maher. The firm advises a U.S. domestic fund, an Australian wholesale fund, a Cayman Islands fund, and four U.S.-based institutional separately managed accounts (SMAs). Bronte Capital focuses on generating alpha from both its long and short portfolios in a unique, uncorrelated, and sustainable manner. Its investments consist principally of listed equity and equity-related securities that are traded publicly, ensuring maximum liquidity and transparency. The firm has earned double-digit annualized returns since inception in 2009 with a low correlation to local indices. Bronte Capital is an Australian-licensed and U.S. SEC-registered global fund manager. The firm's investment process has remained unchanged since inception, emphasizing the identification of companies with sustainable, superior margins and the shorting of companies that demonstrate inflated accounts or hopes. This approach aims to deliver uncorrelated alpha consistently, with substantial portfolio upside to downside tail events. Bronte Capital's investment philosophy centers on a medium-term perspective, seeking to invest in businesses with sustainable, superior margins that can deliver returns on capital through the cycle, while shorting companies that demonstrate inflated accounts or hopes. This strategy aims to generate sustainable returns and significantly outperform during challenging market conditions. The firm's experienced team utilizes a wide range of traditional and non-traditional sources of ideas globally, including traditional media, government policy or regulatory changes, scientific and medical literature, industry and peer networks, and social media. Bronte Capital applies its unique database of individuals associated with financial misdemeanors to humanize the company, providing insights into its past. The team also looks for other red flags, such as cross-border listings, to overlay onto its opportunity set, further enhancing its investment process. Bronte Capital's investment products include a Cayman Islands fund, an Australian fund, and four U.S.-based institutional SMAs. The firm's client funds are invested in global securities, including stocks, bonds, options, and currencies. Short positions are consistently used to reduce portfolio volatility and obtain enhanced performance.

Investment Focus

• Accredited investors only
• Medium-term investment horizon (at least three years)