Lim's Guard Capital Management Poised To Break into $1B Club

Aug 13 2015 | 7:44pm ET

Leland Lim’s macro-oriented Guard Capital has reached approximately $893 million in assets under management and is poised to crest the $1 billion mark in the next few weeks.

The fund is just under one year old. It was launched by Lim, formerly head of Asia-Pacific macro trading for Goldman Sachs, and former Noble Group macro head Allan Bedwick last August with approximately $49 million in capital.  

The latest AUM figure comes from a July investor letter seen by numerous media outlets, including Bloomberg and Reuters. The staggering growth ranks Guard as the second-fastest growing Asian hedge fund that started from such a low base in the last ten years, according to industry data provider Eurekahedge. 

The asset growth comes despite Guard Capital’s decision in May to stop taking money from new investors after AUM reached $500 million. Growth since then has come from additional contributions from existing investors. 

Lim’s Hong Kong-based fund makes bets on global macroeconomic themes in highly liquid instruments like currencies and interest rates. The disparate directions of monetary policy in the U.S., Europe, China and emerging markets opens up opportunities for macro funds, which have outperformed their industry counterparts for much of the past few months, according to recent data from Hedge Fund Research.

Guard’s master fund returned 10% in 2014 and was up 9.8% through July of 2015, according to Bloomberg, betting right on a variety of currency and interest rate bets throughout Asia. 

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