Asia is set to become a hotbed for hedge fund activity as two top traders from Goldman Sachs and Noble Group plan to open a new hedge fund.
Founders Allan Bedwick and Leland Lim have joined forces to take advantage of their Asian financial expertise. They were formerly the head of Asian macro trading for Noble Group and co-head of Asian Pacific non-Japan macro trading at Goldman Sachs respectively. Lim will handle investments, whilst Bedwick will orchestrate the firm’s operations.
The hedge fund will officially launch in the second or third quarter of the coming year, and it is thought that the current market will provide a healthy forum for its growth.
The Asian market is a particularly fertile area for investment at the moment, especially for hedge funds focusing on macro trends. Hedge funds based in the region returned approximately 16 percent in 2013, which was much more promising in comparison to other regions which returned under 10 percent. The net value coming into the region was approximately $11 billion in 2013, as stated in a report by experts from Eurekahedge.
Leland Lim and Allan Bedwick are both experienced in the area, and both have retired recently to begin this new endeavour. Both managers were established in Asia prior to their decision to collaborate.
Other hedge fund managers who have proved successful in the Asian market include Charlie Chan, formerly of Credit Suisse and founder of the macro fund Splendid Asia; and Morgan Sze, formerly of Goldman Sachs but now the founder of Azentus Capital.
For more information on the latest hedge fund news, click here.