Bennelong Long Short Equity Management

What Bennelong Long Short Equity Management does

Bennelong Long Short Equity Management (BLSEM) is a boutique Australian asset manager founded in 2002 as a joint venture with Bennelong Funds Management (BFM Group, privately owned by the Bangarra Group). The firm manages market-neutral and long/short equity strategies investing primarily in S&P/ASX 100 large-cap Australian shares, applying a bottom-up fundamental research process to generate excess returns through individual security selection. BLSEM's product suite comprises the Bennelong Market Neutral Fund (inception 22 October 2015), the Bennelong Long Short Equity Fund, and the previously offered Bennelong Alpha 200 Fund. The Market Neutral Fund is constructed around a portfolio of 50-70 securities across 25-35 correlated long/short paired positions, aiming for consistent absolute returns irrespective of market direction while limiting net market exposure. Investment leadership transitioned from founder Richard Fish (retired 1 July 2017 after 15 years) to Sam Shepherd, with the investment team holding equity stakes in the management company.

Revenue is generated through a recurring asset-based model: management fees of 1.75% per annum of Net Asset Value (excluding GST net of RITC) plus a 20% performance fee (subject to a high water mark) charged on increases in NAV. Distribution is carried out through financial advisers (the funds are only available via advisers), backed by a dedicated institutional distribution team covering different regions and segments across Australia and New Zealand. BLSEM maintains offices in Melbourne (headquarters), Sydney, Brisbane, and Perth, and has been recognised with the 2016 Australian Hedge Fund Award for Best Market Neutral Fund and finalist status in the Money Management Fund Manager of the Year Awards (Long/Short Equities) in 2020 and 2021. The firm operates as a privately held entity with no external institutional investors disclosed.

Name

Bennelong Long Short Equity Management

Legal name

Bennelong Long Short Equity Management

Website

https://blsem.com.au

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

1–10 employees

Short description

BLSEM is a boutique Australian asset manager founded in 2002 that runs market-neutral and long/short equity strategies in S&P/ASX 100 large-cap shares for institutional, fund-of-funds, and private investors via financial advisers across Australia and New Zealand.

Ownership category

akta.pro rank

Product category

Long/Short Equity Asset Management

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Market-Neutral Equity Long/Short (FSAHAAAD)

Keywords

• Long short equity
• Market neutral funds
• Absolute return investing
• Boutique asset management
• Australian equities

Headquarters

HQ city

Melbourne

HQ country

Australia

HQ region

Oceania

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Management Fees: Management fees charged at 1.75% p.a. (excluding GST net of RITC) of Net Asset Value. This is the primary recurring revenue stream from fund administration.
2. Performance Fees: 20% (plus applicable GST net of reduced input tax credits) of the increase in the Net Asset Value of the Fund, subject to a High Water Mark. Provides alignment of interests and upside participation.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

BLSEM is a boutique market-neutral asset manager that runs long/short equity funds investing primarily in S&P/ASX 100 large-cap Australian shares. The firm applies a bottom-up fundamental research process and constructs predominantly cash-neutral portfolios via correlated long and short paired positions (50–70 securities across 25–35 pairs) to deliver consistent absolute returns while limiting market exposure. Current flagship offerings are the Bennelong Market Neutral Fund and the Bennelong Long Short Equity Fund, distributed via financial advisers and institutional channels in Australia and New Zealand.

Product overview

Bennelong Long Short Equity Management (BLSEM) is a boutique, market neutral asset manager offering two primary funds: the Bennelong Market Neutral Fund (inception: 22 October 2015) and the Bennelong Long Short Equity Fund. Both funds employ long/short strategies investing primarily in S&P/ASX 100 large cap Australian shares, using bottom-up fundamental research to generate excess returns while maintaining market-neutral positioning through correlated long and short paired positions. The firm previously managed the Bennelong Alpha 200 Fund. The funds are distributed via financial advisers and are currently soft-closed.

Differentiator

Problem solved

Functional benefit

Products and services

• Bennelong Market Neutral Fund A market-neutral fund that aims to achieve consistent absolute returns regardless of market conditions from a portfolio of long and short large-cap Australian shares. The strategy limits market exposure by adopting a predominantly cash-neutral position through correlated long and short paired positions. Available to wholesale and retail investors via licensed financial advisers; minimum investment $25,000, with a 1.75% p.a. management fee and 20% performance fee subject to a High Water Mark.
• Bennelong Long Short Equity Fund A long/short equity fund investing in long and short large-capitalisation Australian shares (primarily S&P/ASX 100). Applies a bottom-up fundamental research process to identify key drivers of company profitability and generate excess returns for investors. Available to advised investors in Australia and New Zealand.
• Bennelong Alpha 200 Fund An absolute-return fund investing in Australian equities, launched in 2014 as part of BLSEM's expanded product offering. Previously managed by BLSEM.

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Bennelong Funds ManagementcoreStrategic or Co-development Partner · 1 January 2002Bennelong Funds Management is the parent company and joint venture partner that founded BLSEM in 2002. Bennelong provides administrative infrastructure, distribution support, and brand affiliation. BLSEM operates as a Bennelong boutique within the BFM Group, privately owned by the Bangarra Group.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Emerging players

• Wavestone Capital: Australian long/short equity boutique focusing on ASX-listed companies. Partial overlap with BLSEM in product and target market, at earlier stage of scale.
• Lennox Capital Partners: Sydney-based smaller boutique running concentrated long/short Australian equities. Overlaps with BLSEM in strategy and adviser distribution but at smaller scale and shorter track record.

Direct peers

• Antipodes Partners: Australian-founded long/short equity manager with significant ASX exposure, distributed through adviser and institutional channels. Comparable in offering market neutral and long/short Australian equity strategies to BLSEM.
• L1 Capital: Melbourne-based boutique running long/short Australian and global equities strategies. Direct competitor for adviser-distributed long/short capital in Australia.
• Regal Funds Management: Sydney-based alternative manager offering Australian long/short and market neutral equities strategies. Direct competitor in the same product category and adviser distribution channel as BLSEM.
• Ellerston Capital: Australian boutique alternative manager offering long/short and market neutral Australian equity strategies, including an ASX-focused vehicle. Overlaps with BLSEM in product, distribution channel and target clients.
• K2 Asset Management: Melbourne-based Australian long/short equity hedge fund manager running a market neutral product on ASX-listed equities. Closely comparable to BLSEM in strategy, mandate universe and target investor base.
• Plato Investment Management: Australian boutique running long-only and long/short Australian equity strategies with a research-intensive process. Competes with BLSEM for adviser and institutional capital in the Australian equity space.

Broad incumbents

• Magellan Asset Management: Large Australian-listed global equities manager with significant adviser distribution. Competes with BLSEM for Australian investor capital, albeit in long-only global strategies rather than market neutral.
• Pinnacle Investment Management: ASX-listed multi-boutique platform that owns several Australian long/short and alternatives managers. Comparable as a sponsor/distribution structure for boutique investment managers and a competitor for adviser-distributed capital.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/bennelong-long-short-equity-management

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bennelong Long Short Equity Management