Bedlam AM to shut down as it liquidates fund range

Bedlam Asset Management has begun liquidating its fund range and winding down its business on concerns that it may be about to lose the bulk of its assets.

The company, which created a stir upon launch in 2001 with its forthright criticism of fund manager fees, pointed to the sudden departure of CIO Ian McCallum as a catalyst for the potential outflows. McCallum announced his departure last month for a role at Singapore's Fullerton Fund Management. This resulted in an automatic review both by large investors and by one consulting firm, whose clients account for over 40% of Bedlam’s AUM. "As a result of the change, that consultant revised the recommendation on Bedlam to ‘sell’," Bedlam said in a statement. "The result is that a cons...