Ex-Lehman Global Macro Trader Shuts Hedge Fund

Jun 4 2012 | 2:58pm ET

Yet another Asian hedge fund is closing its doors, adding to evidence that this year may see as much attrition in the regional industry as last year.

The latest to call it quits is Allan Bedwick, the former Lehman Brothers global macro proprietary trading chief. He told investors in his Sequence Asset Management that he would return their money by the end of this month, Reuters reports.

Hong Kong-bases Sequence had about US$120 million in assets under management. The global macro vehicle was essentially flat in the first quarter after returning 3.1% last year.

Bedwick launched the Sequence Fundamental Macro Fund at OGI Capital Partners in Japan in 2009. He relocated to Hong Kong following the earthquake and tsunami last year.

Sequence is about the 40th hedge fund to close its doors in Asia this year. The region lost 140 hedge funds in 2011, putting this year on a pace for a slightly smaller contraction of about 100 funds.


In Depth

Q&A: Portfolio Advisors' Brian Murphy On The Advantages of A Private Markets Platform

Jan 2 2018 | 11:05am ET

Most private markets firms reference their platforms as a source of competitive...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: The Top Hedge Fund Industry Trends for 2018

Jan 2 2018 | 12:22pm ET

Each year, Don Steinbrugge’s Agecroft Partners compiles the insights gained...

 

FINalternatives Trending

From the current issue of