Bennelong Asset Management, the Asia-focused hedge fund firm led by a group of former Macquarie Bank proprietary traders, has launched a new fund specifically designed to profit from market stress and tail risk events anticipated by the firm over the next few years.
The Bennelong Tempest Fund launched on 1 October with $35 million. Of this, $15 million is the firm’s own capital – which is expected to be increased to $25 million in the first quarter of next year.
The fund will invest globally in options across equities, currencies, commodities, fixed income and credit. CIO Paul Henry