It is difficult to determine what was worse for Brendan O’Connor, the newly minted CEO of Australian-based Regal Funds Management. The Atlantic Absolute Return fund posted a -2.30% loss in March while its Australian stock benchmark, the Australian S&P 200, was higher. Similarly, the Regal Australian Small Companies Fund was off -1.42% as its stock benchmark, the Small Ordinaries Index, posted a light gain. But perhaps most challenging was the larger Atlantic Absolute Return fund was profitable until the last few days of the reporting period, a letter to investors reviewed by ValueWalk shows, while the Small Companies fund appeared to be the victim of a short squeeze.
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