Wednesday, 1 April 2015
Last updated 3 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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…