The head of maco trading in Asia for Noble Group is leaving the company to start his own hedge fund firm.
Reuters reported that Allan Bedwick plans to launch a Hong Kong-based macro hedge fund in the second or third quarter of 2014. Bedwick will run the business at the new firm, while his partner will head investments.
While the details of Bedwich’s new fund was not disclosed, macro funds focus on major economic trends and events and bet anywhere they see value, including stocks, bonds, currencies, commodities and derivatives markets.
Separately, Bedwich closed a Japan-based hedge fund he launched in 2009 last year when he failed to attract capital as investors’ focus shifted to larger hedge funds.