Wednesday, 20 August 2014
Last updated 2 hours ago
May 14 2010 | 1:16am ET
Asia’s largest hedge fund firm is back in the black. Sparx Group turned a ¥398 million profit in the year-ended March 31 following a program of painful cost cuts.
Tokyo-based Sparx lost ¥23.3 billion in the prior fiscal year, leading firm president Shuhei Abe to vow to return the firm to profitability last year. And he did just that, slashing costs by 42% and selling its stake in Cosmo Investment Management.
While Sparx’s revenues rose 7.6% during the year, the firm’s assets under management remained just a third of what they were four years ago, at ¥686 billion. Management fees dropped 38% and performance fees plummeted 65% year-on-year.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note