While three-fourths of all Asian hedge funds manage less than $100 million, a quiet, one-year old global macro fund appears set to join the hedge fund arena’s 1%.
According to Reuters, Hong Kong-based Guard Capital has amassed $893 million in assets since its launch, and is just a few weeks away from entering the billion-dollar hedge fund club. While undoubtedly impressive in itself, what makes it even more spectacular is that Guard began with just $49 million last August, and has closed itself to outside investors after reaching the $500 million mark this May.
Guard was founded by Leland Lim, Goldman Sachs’ former Asia ex-Japan macro trading co-head, and Allan Bedwick, the Noble Group’s former head of macro trading, and apparently, the duo have been doing really well.
The fund reportedly returned almost 21% for the year – a massive gain compared to the 4% average return EurekaHedge says its peers have been posting.
Photo: Philip Taylor