Ex-Lehman trader to shut $120 mln global macro hedge fund
HONG KONG, June 4
HONG KONG, June 4 (Reuters) - Former Lehman Brothers trader Allan Bedwick is shutting his $120 million Asia-based global macro hedge fund after a two-and-a-half-year struggle to boost assets, fund documents obtained by Reuters showed.
Hong Kong-based Bedwick is Asia's latest hedge fund victim of the global economic woes as fears of a worsening euro zone debt crisis, and slowing growth make investors look for safety in large and well-established funds.
His Sequence Fundamental Macro Fund, which will be shut by end-June, gained 0.1 percent in the first three months of 2012 versus a 1.9 percent gain in the Eurekahedge global macro hedge fund index. The fund reported a 3.1 percent gain in 2011, outperforming a 1.2 percent drop in the index.
Bedwick declined to comment.
- Exclusive: Radar data suggests missing Malaysia plane deliberately flown way off course - sources
- Investigators focus on foul play behind missing plane: sources |
- CEOs of biggest Russian firms could be hit by sanctions: paper |
- Kremlin website hit by 'powerful' cyber attack
- Search for Malaysian plane may extend to Indian Ocean - U.S |