The chief executive of a successful New Zealand hedge fund made famous by its high-risk strategies has said that its investors would not “bat an eyelid” at the fact one of its portfolios fell almost 25% in June, as it starts marketing funds from a new London office.

36 South Investment Management, previously based in New Zealand but now headquartered in London, drew attention in January when it emerged that its Black Swan fund had made in excess of 200% in 2008, despite hedge funds suffering there worst year on record.