Wednesday, 6 May 2015
Last updated 4 hours ago
Mar 5 2010 | 2:52am ET
The sun may be rising on hedge funds in the Land of the Rising Sun, according to hedge fund seeder Asia Alternative Asset Partners.
Investors have steered away from Japanese hedge funds for several years. Some are still wary of funds in the country, one of the hardest hit by the financial crisis, acknowledges Roger Pyrke, deputy CEO of Triple-A.
“While some investors don’t want to touch Japan after past disappointments, we’ve had a lot more investors saying this is the year of Japan,” Pyrke told the Reuters Private Equity and Hedge Funds Summit. “Many institutions are massively underweight Japan and think its time to get up to neutral weighting on the country.”
Triple-A certainly thinks the small inflows Japanese hedge funds have seen this year are only a taste of things to come. The firm has signed a marketing and distribution deal with Sparx Asset Management, the Tokyo-based firm that is Asia’s largest hedge fund manager, to sell its products outside of Japan.
“It’s a good time for us to be making deals,” Pyrke said. “The terms are much better than they were two years ago.”
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…