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 of investors. The closure of the fund came just a few months