Hedge fund veteran Rohan Hedley has closed his flagship
long-biased Hayberry Australia Equity Fund, returning capital
to investors in September. Hedley says he needed a break from
the market after 10 years with Hayberry and 13 years before
that with Bankers Trust. The difficult market conditions in
recent months made it a struggle for many fund managers to
raise new capital from investors.
"There is hardly any support for smaller managers," he says,
adding that the uncertainty has in general prompted a
flight-to-quality for all types...