Wednesday, 1 October 2014
Last updated 4 hours ago
May 20 2010 | 11:30am ET
A new Japanese hedge fund aims to take advantage of weakness in the country’s markets with a shorting-heavy strategy.
T&D Asset Management, an arm of Japanese insurer T&D Holdings, will launch its Japanese Equity Long & Short Fund on June 1, Bloomberg News reports. The strategy behind it turned in a 13.4% return in simulated trading last year—a figure T&D aims to repeat, with a targeted annual return of between 12% and 20%, with a short-heavy portfolio.
The new fund, nicknamed “Meigen,” will invest in the most liquid Japanese stocks, with between 50 and 70 positions in its short book and 40 to 60 long bets. No short will total more than 3% of its assets, and no long can make up more than 5%.
“For us, shorting is not a hedge, but more of a tool to create alpha, and we see plenty of opportunities now,” co-portfolio manager Kazuko Yuzaki told Bloomberg.
Meigen—which means to exorcise demons with a bow and arrow in Japanese—has been seeded with about ¥700 million by T&D Asset. Yuzaki and co- manager Susumu Tominaga hope to raise about ¥10 billion over the next two years; the fund has a capacity of ¥50 billion.
Both Yuzaki and Tominaga joined T&D Asset last year from Tokyo-based hedge fund advisory Yunzei Investment Research.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...