HONG KONG, June 4 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.