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

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

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

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...