Hendry, who finished as the runner-upon last year's PGA Tour of Australasia money list, continues to impress with his ongoing development as a player.
Hendry has status on the Japan Golf Tour in 2013 and has been one of the big improvers in Australasian golf in the past three years. Last year he won the New Zealand PGA Championship, a title he will defend in one month's time but it is his consistency that has become his hallmark, finishing 6th at the Talisker Masters and 7th at the Australian Open.
Hendry bogeyed his 3rd hole today and at that point was a massive seven shots behind Bransdon but between the 5th and 16th holes he would birdie nine times, including six in a row at one stage, and at 14 under he leads by one over Bransdon with a further three shots shot back to amateur Lucas Herbert.
"It's pretty tricky out there, I am obviously wrapped with my round given the conditions," said Hendry.
"Any time you can beat an Australian on Australia Day is the perfect case scenario I think for a Kiwi," joked Hendry.
"But leading doesn't really matter - there are still 18 holes to go. I shot 64 today so there is nothing to say someone couldn't do the same tomorrow, shoot up the leaderboard and go past everyone.
"It's funny I don't feel like I am in real control over the ball at the moment but it seems to be going pretty straight.
"I got on a really good run there through the middle of the round; hit a lot of good putts so more than anything putted really well today.
"It's obviously not too bad because it's going where I want it to go."
Bransdon fought back after consecutive bogeys in the middle of his round but a bogey at the last cost him a share of the 54 hole lead after having led through 18 and 36 holes.
16 year old Commonwealth Golf Club member, Herbert, was included in Golf Australia's National Squad this season and joins the host of high class teenagers on the Australian amateur scene at present. He pre-qualified for the event on Monday.
Other then Hendry's 64 the best round of the day came from the leading world ranked payer in the field, Kurt Barnes, whose round of 65 moved him into a share of 6th position.