Kardinia Capital is a Melbourne-based boutique fund manager, part of the Bennelong Funds Management multi-boutique group, specializing in a long/short Australian equities strategy. Led by portfolio manager Kristiaan Rehder (building on the fund's earlier track record established by founder Mark Burgess and Kate Howitt), Kardinia aims to deliver positive absolute returns across market cycles by actively varying net market exposure and taking short positions to hedge or profit from overvalued stocks. The strategy blends top-down macro views with bottom-up stock selection, seeking to protect capital during downturns while capturing upside during rallies. Kardinia's flagship fund has built a long track record as one of Australia's more established long/short vehicles.